MTT is an intriguing company. There's definitely been buying interest to support the price despite the big slippage in the moly price. I've just come across this which makes me even more wary of jumping back in (from Miningnews.net) - moly down to $2 perhaps?!
"Rio talks down moly
Wednesday, December 07, 2005
Michael Quinn
IT MAY merely have been a case of talking up its own book and scaring off the opposition, but potential molybdenum producers still wouldn't have enjoyed what Rio Tinto management had to say about the metal's prospects in an analyst briefing this week.
Molybdenum is used as an addition to steel, irons and non-ferrous alloys.
According to UBS Investment Research, Rio's CEO of copper and exploration, Tom Albanese thinks a more "stable" molybdenum price is $US2-4 per pound – someway south of the current price of around $US30/lb.
Chinese supply issues have been the "major" driver behind the price ascent, with safety and illegal mining problems reportedly seeing an entire "district" in the quasi-communist country closed down while the issues are worked through."
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