From recent financial, Carmi indicated and inferred moly needs Molybdenum prices around $25. Actual Moly price just gained a little to $12.50, not even close. I feel that until Moly firms at $20, we're in for a wait-and-see holding time.

From website:

"The Kettle River (Carmi) project is Hi Ho Silver’s flagship property. A molybdenum property with many positive qualities as well as Hi Ho Silver’s recently completed NI 43-101 compliant resource calculation, Hi Ho Silver currently owns 51%, and has the option to acquire 100% of the property. Located approximately 30km east of Penticton, BC and 8km north of the mining town of Beaverdell, the Carmi project has a very distinct past.

Molybdenum mineralization was discovered in 1960 by Kennco Explorations (Western) Limited during the course of geochemical exploration in the Beaverdell area. Between 1961 and 1990 a number of exploration companies conducted major programs in efforts to define the grade and size of the deposit. This work resulted in the definition and publication of a potential open pittable “drill indicated” molybdenum resource for each mineralized zone. The E Zone was estimated to contain 17 million tonnes (18.7 million tons) grading 0.063% molybdenum (0.105% MoS2) and the Lake Zone, about 750 metres west of the E Zone, was estimated to contain 3.7 million tonnes (4.1 million tons) grading 0.066% molybdenum (0.110% MoS2). A higher grade body of molybdenite mineralization was intersected in drill intercepts of molybdenite mineralized breccias occurring as sheets or panels beneath the Lake Zone. This potential underground mining target was estimated to contain 4.5 million tonnes (5 million tons) grading approximately 0.2% molybdenum (0.33% MoS2).

The NI 43-101 compliant resource estimate commissioned by Hi Ho Silver in 2008 returned the following values based on a 0.026%Mo cut-off grade;
Classification Tonnes Mo (%) Mo (million lbs.)
Indicated 12,906,000 0.058 16.5
Inferred 27,385,000 0.056 33.5

Property Benefits:
• Located in mining friendly British Columbia, Canada
• Town of Beaverdell provides materials and skilled labour
• Temperate climate allows for year round exploration activities
• Easily accessible, open pit location has been previously logged
• The Carmi property is expandable in all depths and directions ..."

When this was first published Moly price exceeded $30.

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