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Molycorp, Inc. Message Board

  • hutgies hutgies Nov 28, 2012 3:50 PM Flag

    not encouraging

    this company is not encouraging, I am very disappointed with management. Every Q they're coming out with new twisted stories to kick the can down the road. ramping, ramping ramping and ramping.

    On their new PowerPoint slide Nov 28, 2012 for JP Morgan conference. Slide# 11, Low cost advantage will not realize until sometime 2014. At the end of Q3 2012, cash on hand is 436 Millions, and Capex for Q4 is estimated to be somewhere in the 180 Millions range.

    In the next Q or 2, company is very likely to raise additional capital again to further dilute existing shareholders.

    Year to date, share is down 60+%, this is very depressing. No matter how management twisted, share price tell it all. I will get out when break-even.

    PS: I believe in rare earth resources in the western hemisphere, but this is just horrible.

    Sentiment: Hold

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    • Low cost advantage will not realize until sometime 2014.
      But the costs should drop continuously based on the completion of facilities and operational optimization. Yes it is disappointing not to have an imminent low cost projection but the situation is not so bleak as you lament. It is 1 month until 2013. During 2013 costs should fall and production capacity should increase. After full scale production, there should be continued cost drops.

      I take a long term view. And the long term picture is that this is a very solid stock to own.

 
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