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Sarcastic Processor

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  • Molycorp Plummets After Oaktree Discloses 9.1% Stake: Will Shares Recover? [View article]
    That 9.1% stake, such as it were, had already been revealed a week earlier on September 11, complete with pricing and other details.

    Anyhow go look back at my comments on Molycorp as far back as early 2011, to see what I thought of it then. That was back when you were but a rare earth babe in the woods.
    Oct 1 01:55 PM | Likes Like |Link to Comment
  • Molycorp Plummets After Oaktree Discloses 9.1% Stake: Will Shares Recover? [View article]
    Ha ha, I knew you were going to dismiss it as irrelevant, and thought about mentioning that preemptively. It shows your lack of attention to detail and facts. That's not to say that the big picture is not important, but at least get facts correct, rather than playing fast and loose with them.

    Regardless, only 3/4 of the warrants are in the money, yet the stated percentage ownership and deemed beneficial ownership are based on all the warrants, including the 1/4 of them well out of the money at present.
    Oct 1 01:18 PM | Likes Like |Link to Comment
  • Molycorp Plummets After Oaktree Discloses 9.1% Stake: Will Shares Recover? [View article]
    You wrote "The company's shares outstanding increased from 244 million to 269 million. In effect, the strike price for Oaktree's warrants were so low that they were exercised immediately into additional shares."

    Did you actually read the 13G filed on September 18? There is no indication that Oaktree has actually exercised any warrants as of yet. On p. 2:

    "(2) All calculations of percentage ownership herein are based on a total of 269,250,948 shares of common stock of the Issuer, par value $0.001 per share (the “Common Stock”), outstanding, consisting of (i) 244,773,589 shares of Common Stock outstanding as of August 5, 2014, as disclosed in the Issuer’s Form 10-Q filed with the Securities and Exchange Commission on August 6, 2014, (ii) 18,358,019 warrants to purchase Common Stock held by the Reporting
    Persons (as defined below), entitling them to purchase an aggregate of 18,358,019 shares of Common Stock of the Issuer at an exercise price of $0.01 per share, subject to expiration on September 11, 2019 (the “Penny Warrants”) and (iii) 6,119,340 warrants to purchase Common Stock held by the Reporting
    Persons, entitling them to purchase an aggregate of 6,119,340 shares of Common Stock of the Issuer at an exercise price of $2.04 per share, subject to
    expiration on September 11, 2019 (the “Oaktree Warrants” and together with the Penny Warrants, the “Warrants”). In accordance with Rule 13d-3(d)(1). the
    Warrants are treated as exercised for the purpose of computing the deemed beneficial ownership percentage of the Reporting Persons."

    Note the key sentence "In accordance with Rule 13d-3(d)(1). the
    Warrants are treated as exercised for the purpose of computing the deemed beneficial ownership percentage of the Reporting Persons." The 13G is in essence just a pro forma report.
    Oct 1 08:46 AM | 1 Like Like |Link to Comment
  • Molycorp Placed On CreditWatch By S&P, Tests 52-Week Low [View article]
    Adamantium, maybe you should go work for Howard Marks at Oak Tree if you're so enamored of him.
    Sep 9 02:58 PM | 1 Like Like |Link to Comment
  • Molycorp: Sans Oaktree Financing, Q1 2015 Bankruptcy Likely [View article]
    Shock Exchange, what is the basis for your assertion that the legal settlement was in the amount of $13 million? Have you been able to divine that from SEC filings/financial statements?
    Aug 22 09:48 AM | Likes Like |Link to Comment
  • Molycorp - Everything Is Moving In The Right Direction For Long Investors [View article]
    I didn't think it was possible, but the new CEO, Geoff Bedford, one-upped former CEO Mark Smith.

    In Nov 2011, Smith bragged that Molycorp sold every kilogram it produced, even though much of the sales were internal, such as to Silmet, and eventually written off. But Bedford was not content to brag about every kilogram, indeed "every molecule we ship downstream from Mountain Pass is ultimately sold in a higher value form". Unlike Smith, Bedford didn't even leave a stray molecule behind.
    Aug 16 10:52 AM | Likes Like |Link to Comment
  • Molycorp cut to Sell at Euro Pacific, which cites falling rare earth prices [View news story]
    Don't be so quick to blame EuroPacific. Seeking Alpha my be due a fair bit of the blame.

    Benzinga wrote "Molycorp average sales prices decreased heavily from 974 tons at $10.3 per kg compared to 1,049 tons at $16.8 per kg in the company's second quarter of 2013." "from 974" should be "to 974". So if Seeking Alpha tried to summarize Benzinga, it botched it. I would reserve any criticism of EuroPacific until after reading what EuroPacific disseminated, not Benzinga's summary of it, or Seeking Alpha's summary of Benzinga's summary of the EuroPacific report.
    Aug 11 02:40 PM | Likes Like |Link to Comment
  • Molycorp's Convertible Notes Are Worth From 3 - 5 Cents On The Dollar [View article]
    That is just really sloppy ausheds. That Engineering and Mining Engineering article has an error (typo). The original Molymet investment in Molycorp was announced on Feb 1, 2012, as stated above by End Game, see the original press release on the Molycorp website http://bit.ly/1l3PXk4 .

    As to whether Molymet realized its investment would be used to partially fund the Neo Material Technologies acquisition, perhaps, but I don't think that's ever been publicly disclosed. Perhaps Jack Lifton was hinting in his comment above that Molymet approached Molycorp with the idea of acquiring Neo, and using an investment from Molymet to do so (at least partially fund).
    Jun 10 08:13 AM | Likes Like |Link to Comment
  • Molycorp's $560 Million Intangible Assets Are Worthless [View article]
    Yes, stockpiling rare earths by the Defense Department would be smart ... well, as smart as anything else the government does. Then what China cuts off the supply of rare earths to the U.S., the Defense Department can send its stockpiled rare earths to China for processing.
    May 31 12:17 PM | 3 Likes Like |Link to Comment
  • Molycorp's $560 Million Intangible Assets Are Worthless [View article]
    There already is a Ce bomb. It's blown up Molycorp.
    May 31 10:23 AM | 3 Likes Like |Link to Comment
  • The Molycorp Case Study And The Irresponsibility Of Capital Markets [View article]
    Don't forget the big patent expiration in July 2014. That's already hurting Neo's business, and competitors are about to flood in.
    May 14 10:31 PM | Likes Like |Link to Comment
  • Molycorp: Catching A Falling Knife? [View article]
    Have you ever heard of Molycorp China, excuse me, Molycorp "Canada", which is the former Neo Materials (operations mostly in China) which Molycorp bought 2 years ago? The whole wrap the company up in the American flag thing was one of former Molycorp CEO Mark Smith's brilliant marketing schemes, as evidenced by people liking you still repeating his nonsense almost a year and a half after he was fired. You may have noticed that a few of his promises and predictions have not come to pass.
    May 13 01:47 PM | Likes Like |Link to Comment
  • Molycorp: Catching A Falling Knife? [View article]
    Sorry, I must have missed the memo or press conference in which the US department of defense made it very clear Molycorp is here to stay. Can you please clue me in?

    Also, when the US department of defense made it very clear Molycorp is here to stay, did it make it very clear that the current common shareholders of Molycorp are here to stay, rather than debt holders becoming the new owners in the event of bankruptcy, or pieces being bought out of bankruptcy with current common shareholders getting nil?
    May 13 11:16 AM | Likes Like |Link to Comment
  • Molycorp: Catching A Falling Knife? [View article]
    When you say "in each case that the board turned the deal down", are you referring to the Molycorp Board of Directors turning the deal down, as opposed to the board of the acquiree? Can you tell us which companies Mark Smith negotiated to buy? Prices? Timeframe of attempted purchases?
    May 13 11:10 AM | Likes Like |Link to Comment
  • Molycorp: Catching A Falling Knife? [View article]
    Mountain view facility? Freudian slip? Mountain Pass isn't Mountain View and Molycorp ain't Google, even though I'm sure it wishes it were.
    May 12 08:30 PM | Likes Like |Link to Comment
COMMENTS STATS
204 Comments
258 Likes