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Thompson Creek Metals Company Inc. Message Board

  • richard.schulze52 richard.schulze52 Jan 24, 2013 6:39 PM Flag

    Molycorp dragging down the rare earth metals ETF (REMX)

    of which TC is a part of (5.6 %). Molycorp (5.35 % of REMX) is making a fast drop to the basement and dragging the other already battered molybdenum and rare earth mineral miners with it. As soon as MCP quits falling and the ETF levels out, TC could begin to climb again. I guess this is why Warren Buffet calls ETFs, the new weapons of mass destruction. I am holding, I don't think the dip for TC is going back to the lows of last year, but low enough to motivate buyers to sop up the excess shares left in the wake of the ETF sell-off. Hopefully, with Mount Milligan coming on line, TC may not be a very good fit for REMX and maybe the ETF managers will reduce the exposure of TC to REMX. Maybe GDX or GDXJ will add TC to their ETF and make them buy a few shares.

    Sentiment: Hold