Home › Forums › Refining Community › Energy › US Risk Rare Earths Supply – Clean Energy(& Traditional) › RE: US MolyCorp Announce Rare Earth Rediscovery
Here is update on new breaking announcement by MCP of re-discovery/nearly forgotten 1950’s ore out-cropping (which as article states has geologist diving back into old archive files).
Molycorp is lone US hope against Virtual Monopoly/chokehold by China with 99% global supply for rare earths & many technical, clean & green energy applications.
Molycorp (MCP) shares have been near 10 month low recently suffering from over-hype & 500% increase and MCP insiders have been selling million $ worth shares in 2011 which have ranged from $26.02 to $79.16 last 52 weeks (200 day moving average was ~$54.57) ….. so obviously it is still multiples of 100’s % increased in value. MCP rose $1.8/share to $32.00 today with the DJ 400 point rally – but still down nearly 60% compared to May 2011 values.