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Stock Market & Financial Investment News

News Breaks
January 23, 2013
08:00 EDTMCPMolycorp sees 2013 cash shortfall of $250M before proposed offering
In a regulatory filing, Molycorp (MCP) updated investors with respect to its current operations and capital needs, including with respect to its Mountain Pass, California rare earth mine and processing facility. In November 2012, the company disclosed the aggregate cost of Project Phoenix Phase 1 and Project Phoenix Phase 2 was estimated to be approximately $1.25B and expected $90M of other capital expenditures at Mountain Pass, for total capital expenditures at Mountain Pass of $1.34B. The company currently estimate that Project Phoenix will cost an additional $80M to complete. As a result, expected capital expenditures for Project Phoenix and other capital projects at our Molycorp Mountain Pass facility total approximately $1.42B. Molycorp added, "During the fourth quarter of 2012, our revenue and cash flow from operations were significantly less than originally expected...Estimated sales volumes for our four reportable segments, Resources; Chemicals and Oxides; Magnetic Materials and Alloys; and Rare Metals, totaled approximately 3,200-3,400 mt as compared to our prior estimate of approximately 6,100 mt...Given the combination of ramping up toward our initial planned run rate of 19,050 mt per year at our Molycorp Mountain Pass facility and the current pricing environment of REEs, we are anticipating significantly lower than expected revenue and cash flow for the first half of 2013 and have therefore determined that we need to raise additional financing to ensure we have adequate funding for our needs. Based on our current estimated revenue and cash flow, we presently anticipate that we will have a cash shortfall for 2013 of approximately $250 million without giving effect to our proposed common stock offering and convertible notes offering or any revolving credit facility or equipment financing."
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September 18, 2014
18:25 EDTMCPOn The Fly: After Hours Movers
HIGHER: Concur (CNQR), up 19.5% after SAP (SAP) announced that it will acquire the company for $129 per share... Navidea Biopharmaceuticals (NAVB), up 9.8% after confirming FDA orphan designation for Lymphoseek... Molycorp (MCP), up 6.1% after Oaktree Capital reported a 9.1% passive stake in the company... JetBlue (JBLU), up 4.6% following CEO transition announcement... Wendy's (WEN), up 2.15% after Trian reported a 24.39% stake in the company... Sears Holdings (SHLD), up 2.6% after Fairholme Capital reported a 24% stake in the company... AMD (AMD), up 1% after announcing that it expanded an IP partnership with Synopsys (SNPS). DOWN AFTER EARNINGS: Red Hat (RHT), down 3%... Oracle (ORCL), down 2.4% following first quarter earnings miss and CEO transition... Tibco Software (TIBX), down 5.5%. ALSO LOWER: Quest Resource (QRHC), down 13.4% after filing an automatic common stock and warrant shelf... Eagle Rock (EROC), down 4.5% after filing to sell 53.34M common units for limited partners... Chatham Lodging (CLDT), down 3.3% after filing to sell 5M shares of common stock... Glu Mobile (GLUU), down 2.3% after filing to sell 9.98M shares of common stock for holders... Blackstone Mortgage (BXMT), down 1.6% after filing to sell 8M shares of common stock.
16:08 EDTMCPOaktree Capital reports 9.1% passive stake in Molycorp
September 11, 2014
18:35 EDTMCPOn The Fly: After Hours Movers
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17:00 EDTMCPMolycorp announces closing of $400M financing arrangement
Molycorp, Inc. announced the successful close of its previously announced $400M financing arrangement with certain investment vehicles affiliated with Oaktree Capital Management, L.P. Under the arrangement, Oaktree will provide Molycorp and certain of the company's subsidiaries with up to $400M in secured financing through credit facilities and the sale and leaseback of certain equipment at the company's Mountain Pass facility. $250M of the financings has now been funded, with the remaining $150M available until April 30, 2016 if Molycorp achieves consolidated adjusted EBITDA of not less than $20.0M per quarter for two consecutive fiscal quarters, and production volume at its Mountain Pass facility of at least 4,000 metric tons per quarter for two consecutive fiscal quarters.
September 5, 2014
16:01 EDTMCPOptions Update; September 5, 2014
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12:42 EDTMCPStocks with increasing options volume
Stocks with increasing options volume: VALE MCP KORS WAG GM PCLN

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