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Opinions Jim Huang
Mercator Minerals Ltd.ML.TOCOMMENTOct 02, 2009
Acquiring Stingray (SRY-T) but didn't make a lot of sense to him because it diluted molybdenum exposure. Likes moly in the medium term but short-term he is a little bit cautious because it had a big run. Long-term he expects the use of moly to expand.
Jim HuangUnknown
$2.74
Stock price when the opinion was issued
metal mines
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HOLD
Copper molybdenum producer in northwest Arizona. Also, acquired a couple of other assets in Mexico. Their problem had been getting financing for their Mexican mines and the market punished them for making the acquisitions. You are at the mercy of copper/molybdenum prices which he feels have bottomed.
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Copper project and now Moly. Have a Mexican project. Have new CEO and had to revise guidance. Had difficulty getting financing and there were concerns about them running out of money and stopping Mexican project. He would watch it closely. Moly market is weak and not showing any signs of recovery.
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BUY ON WEAKNESS
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Molybdenum and copper. All the metals stocks had corrections but this was beaten up because it had financial issues. These have now been resolved. Expect it will be acquired in the next 2 or 3 years.
Veronika HirschOwned
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