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Molycorp (MCP) +1.8% AH after surging 16% during regular trading, as other rare earth (REMX)...

Molycorp (MCP) +1.8% AH after surging 16% during regular trading, as other rare earth (REMX) names also rose today: REE +11.7%, AVL +15.2%. A Euro Pacific analyst ties the move to reports from China that say the price increase in rare earth relates to a government campaign to shut down unlicensed mines in China's Ganzhau; funds may be buying a basket of related companies. (earlier)
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Comments (4)
  • Michael Bryant
    , contributor
    Comments (5584) | Send Message
     
    (MCP) is trading below its IPO price. http://yhoo.it/10ztTtn;c=
    10 Jul 2013, 10:36 PM Reply Like
  • sinclaire
    , contributor
    Comments (3) | Send Message
     
    Retired banker. Masters Degree. Looking to increase growth of retirement income.
    11 Jul 2013, 12:10 AM Reply Like
  • Sky_Junky
    , contributor
    Comments (5) | Send Message
     
    The patent related to the XSORBX water treatment products could also be a contributing factor.

     

    U.S. Patents Awarded to Inventors in Nevada (July 9) Molycorp
    *** Molycorp Minerals Assigned Patent ALEXANDRIA, Va., July 9 -- Molycorp Minerals, Greenwood Village, Colo., has been assigned a patent (8,475,658) developed by Richard Donald Witham, Las Vegas, Edward Bayer McNew, Las Vegas, and John Leslie Burba III, Charlotte, N.C., for a "water purification device for arsenic removal." The abstract of the patent published by the U.S. Patent and Trademark Office states: "Arsenic is removed from water and other aqueous feeds by (1) treating the feed with a compound containing cerium in the +4 oxidation state, preferably cerium dioxide, to oxidize arsenic in the +3 oxidation state to arsenic in the +5 oxidation state and (2) removing the arsenic in the +5 oxidation state from the aqueous phase, normally by contacting the treated feed with alumina or other precipitating agent containing cations in the +3 oxidation state."
    11 Jul 2013, 08:46 AM Reply Like
  • Jason Burack
    , contributor
    Comments (1758) | Send Message
     
    MCP deserves to trade below it's IPO price. It's balance sheet is a disaster. Cash flows are not improving much yet. I bought the stock at IPO and rode it up to 80. I don't own it right now but I like the progress the new CEO and management team is making at Mountain Pass.
    11 Jul 2013, 03:38 PM Reply Like
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