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Molycorp (MCP) +5.3% AH after announcing the start-up of operations at its Project Phoenix...

  • Monday, August 27, 2012, 4:27 PM ET
    Molycorp (MCP) +5.3% AH after announcing the start-up of operations at its Project Phoenix facilities at Mountain Pass, Calif., which will produce heavy rare earth concentrate to be processed into high-purity, custom-engineered heavy rare earth products. An on-site combined heat and power plant will begin feeding power and steam this week to the facilities.
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This news story has 11 comments:

  •  
    Bumping up against 10...startup of MP is a good sign, but cash from (other) operations and funding to sustain the business until the mine produces still remain lingering questions.
    27 Aug 2012, 04:30 PM Reply Like
  •  
    $LYSCF: ASX news release: Rare earth processing plant (LAMP) 100% complete with Phase I construxn & commissioning:

    http://bit.ly/QPwkNL
    28 Aug 2012, 03:55 PM Reply Like
  •  
    Some good size insider buys last week in the stock offering at $10.
    http://bit.ly/SJZRwR

    The new cash should help.
    27 Aug 2012, 04:37 PM Reply Like
  •  
    Note there were insider buys around $20...not always a sign the stock will go up. The management is on probation in my view, given their miscommunication with investors.
    27 Aug 2012, 04:47 PM Reply Like
  •  
    I bought MCP twice at $60 and $12.74 per share. Yet there is no certainty whether the $10 price is a bottom. Did you guys buy more shares at $10, or did you sell all shares before that?
    27 Aug 2012, 04:50 PM Reply Like
  •  
    I owned some from the mid 20's and was stopped out in the 19's. I sold some Oct $9 puts today thinking I would not mind owning in the low 8's but not ready to buy at $9.50.(posted on my website) I know insiders bought at $20 as well as $10 but some of those recent buys are huge. I agree with WhiteHawk some about management, but they appear to be decent value here. Nice to see the start-up of MountainPass.
    27 Aug 2012, 05:05 PM Reply Like
  •  
    Retired physicist: I traded MCP last year with both options and stock
    and made a reasonable profit. Now I have re-entered for a longer term at 12 to 10. I believe from a techno-economics view that the rare
    earths must eventually rise. I also believe that industrial and military interests in the U.S. will not let MCP fail. For those trading short term,
    the issue is most difficult to assess.
    27 Aug 2012, 06:00 PM Reply Like
  •  
    I agree with the need of the US to protect this industry, it's self-preservation 101 in my book. MCP is the US leader thus far and should get the most attention. I'm not talking bail out money or tax payer subsidies, I'm talking raw materials contracts for US industries specifically those who have been afforded government contracts for military, space, or infrastructure building and servicing.
    28 Aug 2012, 10:02 AM Reply Like
  •  
    I am a greenhorn. I enjoyed and appreciated while reading comments by experienced investors. Nice to join the family of Seeking Alhpa.
    27 Aug 2012, 06:13 PM Reply Like
  •  
    I bought at 20, sold at 17, and now I am loading up at 9.75. Will be holding this one for the long haul. Things look so bad for MCP, but its extremely unlikely this commodity company will not survive. And if it survives, it will flourish. I predict MCP will be trading in the mid 20s with twenty-four months.
    27 Aug 2012, 06:25 PM Reply Like
  •  
    I'm holding for the long haul.
    27 Aug 2012, 09:39 PM Reply Like
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