Molycorp -11.7%, Seeking Alpha blog says shares worth $1.60

|By:, SA News Editor

Molycorp (MCP) -11.7% pre-market after a negative Seeking Alpha blog claims MCP could run out of cash by Q1 2015 without a capital raise.

MCP needs to raise ~$260M in additional capital in order to sustain itself, according to blogger New York Shock Exchange, who values the company at $1.60/share vs. the current $2.57 price.