Metal-Tech: Good golly - is Moly the way to big lolly?

I was surprised there wasn't more of an increase in the share price following the trading statement the other day, though it seems to be on the move again today.

I guess MTT is still seen as a pure commodity play on the price of Molybdenum. I don't have an issue with this as I see strong demand for Molybdenum over the next few years, and I don't see any major price weakness.

But I would have thought the market would give more recognition to its 'green' credentials namely its expertise in the production of high quality speciality metal oxides, powders, and chemicals from the recycling of waste and low grade raw materials including mining tailings, metal scrap, industrial sludge, and spent catalysts.

Admittedly, there is also the political risk, though I think there is little danger of it encountering problems with its Shim-Tech subsidiary in Mongolia like those in Uzbekistan. So with recent statements stressing strong demand and new customers and further production increases in 2007, never mind the company's entrepreneurial skills in adding unexpected new ventures (though still no news on the venture first mooted 12 months ago), and on a P/E of 7, I fully agree with the above that this looks extremely cheap. Added this morning.