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GOLDEN HOPE MINES (TSXV:GNH) Confirms High Grade Intersection of 64.1 g/t Au (Gold) over 1m Read More

The screen metallic analysis returned 82 g/t Au for an average grade of 93.5 g/t Au.
Two additional fire assays on the original pulp done prior to the screen metallic analyses returned 0.22 g/t Au and 0.12 g/t Au for an average fire assay grade of 0.41 g/t Au. The weighted average of all the fire assays and screen metallic assays from this 1-metre section in hole BD2011-184 is 64.1 g/t Au.

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CONTINENTAL ENERGY Geothermal Energy Project Receives US$ 11.5 Million Grant Read More * Client

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Message: Massive supply destruction in mining

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Re: Massive supply destruction in mining

in response to Massive supply destruction in mining by 2b

posted on Nov 24, 08 04:46AM

Here's a pretty interesting article from the guys at Thompson Creek. Perhaps not the most bi partisan point of view but none the less I tend to agree with them.

Thompson Creek CEO says moly prices near bottom, will rebound in 2009

Written by Dorothy Kosich

Monday, 10 November 2008

As molybdenum prices dropped by one-third in only a few weeks, Thompson Creek Metals President and CEO Kevin Loughrey recently told analysts "we have some reason to believe that we are near the bottom right now."

"Our sense of the world is that moly demand will come back really quickly when the financing mechanisms of the world capital markets loosen up somewhat," he reassured the analysts.

Nevertheless, Loughrey noted that the financial crisis has caused "a diminution of molybdenum demand. And that demand reduction, in turn, has caused a dramatic reduction in prices unlike anything I think any of us have seen in the moly business in a long time." Moly prices have dropped from their average $30 per pound price, which had held for some time, to only $12/lb as of Friday.

However, Loughrey blamed the price drop primarily on the inability to get financing for projects that consume steel, rather than the speculative investing that has spelled doom for other metals.

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