Mr. Market liked Molycorp's earnings: After Hours: 9.10 UP 0.42 (4.84%).Molycorp increased revenues but reported a loss because rare earth prices have dropped so much since last year. Competitor Lynas has finally gotten permission to run their Indonesian plant which should add supply and reduce prices. Meanwhile China is curbing production in order to (stabilize?) boost prices. Molycorp says prices and demand are stabilizing. To me it sounds like an uncertain market. MOLYCORP REPORTS THIRD QUARTER 2012 RESULTS Press Release: Molycorp, Inc. – 20 minutes agoHIGHLIGHTS:- Molycorp continues to ramp up Project Phoenix operations at its Mountain Pass, California, facility, and it remains on schedule to achieve a Phase 1 operational rate of 19,050 metric tons (mt) per year in the fourth quarter of 2012. To date, 80% of Project Phoenix facilities are at Phase 1 or greater than Phase 1 operational capabilities. - The Company reported revenue of $205.6 million in the third quarter of 2012, a 49% year-over-year increase and a 97% increase over the previous quarter. It also generated positive operating cash flow in Q3 of $17.2 million. - The Company sold 4,391 mt of product across its business segments in the third quarter of 2012, including: 2,768 mt of rare earth oxide equivalent products at an average sales price of $43.45 per kilogram (kg); 1,527 mt of bonded magnet powders and alloys at an average sales price of $48.98 per kg; and 96 mt of rare metals at an average sales price of $269.22 per kg. - The Company reported a net loss of $0.19 per share, and a loss of $0.05 on an adjusted non-GAAP earnings per share basis, taking into account operational expansion items, out-of-ordinary business expenses, and certain non-cash items. http://finance.yahoo.com/news/molycorp-reports-third-quarter...Denny Schlesinger
http://stockcharts.com/freecharts/gallery.html?MCPsoon to be a screaming buy......???The really bad news....- The Company reported a net loss of $0.19 per share, and a loss of $0.05 on an adjusted non-GAAP earnings per share basis, There will be a profit turn around for MCP and other companies as the US, China and EU come out of their rotten stick'n down turns......late next year or so.....Dave
Oof. just when i was thinking of buying a bit more. http://www.reuters.com/article/2012/11/09/molycorp-sec-idusl...
Holy cow, just what I needed!Denny Schlesinger
Holy cow, just what I needed!To drive the price down so you could bur more?You have the hiccups and needed a scare?
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