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Author: captainccs Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 71950  
Subject: Molycorp (MCP) pounded, like everything else Date: 11/7/2012 11:23 AM
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Molycorp made a new 52 week and all time low today. Earnings out tomorrow. Pentagon needs heavy rare earths for weapons:

Pentagon Challenges Chinese Monopoly on Rare Earths: Commodities
By Lydia Mulvany | Bloomberg – 3 hours ago

The Pentagon and Toyota Motor Corp. are trying to crack China's global monopoly on mining the most valuable rare earths used in unmanned military drones and electric-car motors.

The U.S. Department of Defense and Asia's biggest carmaker are working with Canada's Ucore Rare Metals Inc. (UCU) and Matamec Explorations Inc. (MAT), which are developing North American mines that would boost supplies of so-called heavy rare earths. Those are the less-abundant members of a group of 17 chemically similar elements critical to make a host of products from wind turbines to high-performance magnets for cars and weapons.


http://finance.yahoo.com/news/pentagon-challenges-chinese-mo...

Denny Schlesinger
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