Opinions
Peter Grandich
Adanac Moly Corp.
AUA-X
DON'T BUY
Jun 26, 2006
Not a big fan of molybdenum. Has seen its highs when it went from $2 to $35. Would only consider buying on some very sustained weakness.
$1.050
Stock price when the opinion was issued
metal mines
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DON'T BUY
Doesn't really follow this. Low grade molybdenum deposit in B.C. It’s large and economics look good for the price of moly. Concerned with the price as it went up tenfold. The metal is a small market which makes it very volatile. Also concerned they may have to use diesel generators for power which will be expensive.
metal mines
COMMENT
Decent deposit. Believes molybdenum market is moving broadly lower in the next 12 to 18 months. Very easy to increase supplies by putting recovery circuits on the back of copper smelters and copper mines so there is less need for primary moly and building mines requires a lot of credit. Will probably be a moly buyer in 2010 when it will be very cheap.
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