New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 10, 2013
11:43 EDTSHZ, MCP, REE, AVLRare 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
Sign up for a free trial to see the rest of the stories you've been missing.
October 8, 2014
11:38 EDTAVLAvalon Rare Metals provides update on Nechalacho rare earth elements project
Avalon Rare Metals is pleased to report on recent progress at its 100% owned Nechalacho Rare Earth Elements Project located at Thor Lake in the Northwest Territories, Canada. Most of the technical work programs planned to optimize the 2013 Feasibility Study have been completed and an updated feasibility study is in preparation. Completion of this study awaits a decision on a location for the hydrometallurgical plant and revised cost estimates for this facility. The only significant technical work remaining is to carry out a pilot plant trial of the new hydrometallurgical process flowsheet to finalize engineering and plant design criteria. A bulk sample of Basal Zone material required for this work has been recovered and the trial will proceed once arrangements with a suitable facility are confirmed and the funding required is in place. Efforts to arrange Project financing and product off-take agreements continue along with Project implementation planning and permitting. Depressed commodity prices generally and reduced demand for rare earths in particular, have made accessing capital for large scale resource development projects like Nechalacho very challenging in recent months. However, the Company remains optimistic that rare earth demand will recover sufficiently in 2015 to attract Project financing and allow construction work to begin by next summer.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use