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Stock Market & Financial Investment News

News Breaks
January 10, 2013
11:43 EDTMCP, AVL, SHZ, REERare 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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November 10, 2014
07:32 EDTREERare Element reports Q3 EPS (8c) vs. (15c) last year
For accounting purposes, the company is classified as an exploration stage company and, as such, does not have production-related revenues at this time. As of September 30, the company had cash and cash equivalents of $12.9M, compared with $16.1M at June 30. The net cash used of $3.2M during the quarter was spent primarily on permitting, engineering and economic evaluation work to support the Preliminary Feasibility Study, trench work and general corporate expenses.

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