Dear shareholders,

In an effort to keep you up to date on all pertinent information regarding the resource sector and more specifically Molybdenum, please see the attached article titled; CPM says global molybdenum supply deficits will grow in 2009 and 2010.

"These higher production costs-combined with robust demand in the energy industry, narrow inventory levels, and expectations that molybdenum supplies will not exceed demand on a sustained basis are expected to boost the floor prices of molybdenum," according to a news release issued by CPM Wednesday.

Please click here to view the article in its entirety.

Regards,

AGORACOM Investor Relations

CPM says global molybdenum supply deficits will grow in 2009 and 2010

In its latest molybdenum market study, CPM says tight credit market s and other developments have caused molybdenum’s forward supply curve to shift over the past year.

Author: Dorothy Kosich
Posted: Thursday , 10 Jul 2008

RENO, NV - Commodities research firm CPM Group says financing for molybdenum mining projects "has become an uphill battle for some of the new primary and by-product producers."

Meanwhile, the delays in bring new primary moly or copper/moly mining projects on line have exacerbated the moly supply deficits forecast for 2009 and 2010, according to CPM's study, The Sustainability of Recent Molybdenum Prices, 2008.