More recently, MLY has gone under $1.00. Reasons: Molybdenum prices had held well when other commodities (like lead, zinc) had dropped considerably but recently, Moly prices are well under $20 and many of the Juniors that the fund holds are almost worthless, considering the acquired price. The NAV is still higher than the actual share price and even with recent drops, would remain so.
We may see further drop before any recuperation but $1.00, imo, does not seem to be too risky. Due diligence required as this is not a recommendation to buy,