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Stock Market & Financial Investment News

News Breaks
January 10, 2013
11:43 EDTAVL, SHZ, REE, MCPRare earth miners fall after Molycorp revenue, cash flow guidance
Shares of "rare earth" mining company Molycorp (MCP) are sharply lower after the company forecast lower than expected 2013 revenue and cash flow, citing the combination of the ramp-up schedule for its Mountain Pass project and the current rare earth pricing environment. The company also noted it will not complete Phase 2 construction at Mountain Pass until until market demand, product pricing, capital availability, and financial returns justify additional increases in production beyond Phase 1. J.P. Morgan added to the negative sentiment by lowering its price target on the shares to $5 from $8 while maintaining an Underweight rating. In late morning trade, Molycorp slid nearly 22% to $8.44. Other rare earth miners have seen their shares slip as well, with China Shen Zhou Mining (SHZ) down over 3%, Rare Element Resources (REE) falling nearly 4% and Avalon Rare Metals shedding about 6%.
News For SHZ;MCP;REE;AVL From The Last 14 Days
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May 19, 2015
16:52 EDTREERare Element Chief Administrative Officer to resign May 31
In a regulatory filing, Rare Element reported that on May 15, Kelli Kast-Brown notified the company of her resignation from her position as VP, general counsel, and Chief Administrative Officer, effective as of May 31, after which time she will transition to a part-time advisory and consulting role.
May 11, 2015
15:27 EDTMCPMolycorp drops 28% to 50c after Bloomberg reports on possible bankruptcy loan
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15:25 EDTMCPMolycorp in talks for DIP loan from creditors, Bloomberg reports
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