Barry Schwartz
Moly Mines Ltd.
MOL-OTC
BUY
Dec 07, 2010
Moly is used to strength steel. He doesn’t tend to buy junior producers, but this one may be different. A good one to own. If you want to play moly, buy Thomson Creek Minerals.
New fund on molybdenum raised a large amount of money and have been buying molybdenum companies. This has helped push the stock up. Pretty shallow market. Not comfortable with this.
Announced a higher molybdenum reserve. Stock took a big jump and he would wait to see what happens. Feels the price of molybdenum is going to go up. Expect production will commence in 2008 or 2009. Prefers Thompson Creek (TCM-T), which is less risky.
One of the commodities that right this minute he is very bullish on. Supply and demand are very tight. Moly prices have not gone up. He owns TCM. Thinks we are right on the cusp of a significant move.
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