Molycorp sees negative cash flow in Q3, shares -13.8%

Molycorp (MCP) -13.8% premarket after disclosing it expects to generate significantly lower than expected revenue and cash flow, and plans to raise additional financing to ensure adequate funding for capital needs, debt service and other working capital needs.

MCP says its cash cushion has dwindled to a level below what it considers sufficient to ensure no substantial concern about the ability to finance.

MCP also says it will be unable to sell a substantial portion of the cerium production from its main mine, Mountain Pass in California, in 2014.

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Comments (4)
    , contributor
    Comments (1149) | Send Message
    just bought back into these )()*%&^* company... Dang bad luck and worse management. Not only that misleading management when they say the clore alk plant is a major additive to business@?!?!?!
    15 Oct 2013, 09:07 AM Reply Like
  • wacky47
    , contributor
    Comment (1) | Send Message
    Bagged again by Seeking Alpha!
    15 Oct 2013, 12:19 PM Reply Like
  • msoucy66
    , contributor
    Comments (2) | Send Message
    Things were looking promising for this company. I wonder what went so badly, and so abruptly. This should be a winning business especially with the latest news from China. Molycorp needs to get its ducks in a row in order to capitalize on the rare-earth markets. Its getting frustrating listening to their retoric. Its really time to deliver.
    16 Oct 2013, 12:03 PM Reply Like
  • NC-Investor75
    , contributor
    Comments (10) | Send Message
    Molycorp is a Strong buy here at this level IMHO. I did not think it would be below $6, but the offering put the stock on sale. Buy & hold IMHO Good luck to all
    16 Oct 2013, 04:31 PM Reply Like
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