From: pstad60 | 12/21/2022 9:49:03 AM | | | | Eric Sprott Announces Holdings in Stuhini Exploration Ltd.
Toronto, Ontario--(Newsfile Corp. - December 21, 2022) - Eric Sprott announces that, on December 20, 2022, he acquired ownership of 434,783 Units of Stuhini Exploration Ltd., through a private placement, at $0.23 per unit for aggregate consideration of $100,000.09. Each unit consists of one common share (Share) and one-half of one Share purchase warrant (Warrant), with each whole Warrant entitling the holder to acquire one Share at $0.35 for 24 months from the date of issuance.
As a result of the acquisition, Mr. Sprott now owns and controls 3,234,783 Shares and 217,391 Warrants, representing approximately 9.3% of the outstanding Shares on a non-diluted basis, and approximately 9.9% on a partially diluted basis assuming exercise of the Warrants. Prior to the acquisition, Mr. Sprott owned and controlled 2,800,000 Shares or approximately 9.1% on a non-diluted basis.
The acquisition, combined with prior treasury Shares issuances by Stuhini Exploration, resulted in an ownership decrease, on a partially diluted basis, of approximately 2.7% since the last filing of an Early Warning Report and brings total holdings to under 10% on a partially diluted basis. As a result, Mr. Sprott and 2176423 Ontario Ltd. (a corporation he beneficially owns) ceased to be insiders of Stuhini Exploration.
The securities are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
Stuhini Exploration Ltd., is located at 105-1245 West Broadway, Vancouver, BC V6H 1G7. A copy of the early warning report with respect to the foregoing will appear on the company's profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com and may also be obtained by calling Mr. Sprott's office at (416) 945-3294 (2176423 Ontario Ltd., 200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).
Source: newsfilecorp.com
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From: pstad60 | 12/30/2022 7:09:55 PM | | | | Stuhini Exploration Completes Third Anniversary Option Commitment on Ruby Creek Project
VANCOUVER, BC, Dec. 30, 2022 /CNW/ - Stuhini Exploration Ltd. ("Stuhini" or the "Company") (TSXV: STU) is pleased to announce that pursuant to the Option Agreement dated July 29, 2019, as amended (the "Agreement") with Global Drilling Solutions Inc. ("Global Drilling") pursuant to which the Company has the option to acquire 100% of the Ruby Creek Property (the "Property" or the "Project") in northwestern British Columbia, Canada, the Company has elected to renew its option on the Property (the "Option") pursuant to the terms of the Agreement.
Pursuant to the Agreement, Stuhini is entitled to earn a 100% interest in the Property by issuing up to 7,300,000 common shares of the Company ("Common Shares") and making cash payments of up to $1,060,000 over a four-year term (see news releases dated July 30, 2019 and November 20, 2019). Following shareholder and TSX Venture Exchange approval of the Agreement, the Company issued 800,000 Common Shares to Global Drilling on December 30, 2019, and on unanimous approval of the board of directors of the Company (the "Board"), exercised both its first anniversary option commitment on December 30, 2020, which involved the issuance of 1,250,000 Common Shares to Global Drilling, and its second anniversary option commitment on December 29, 2021, which involved the issuance of 1,750,000 Common Shares to Global Drilling and the issuance of a promissory note to Global Drilling in the amount of $120,000, which note was subsequently fully paid, including interest thereon on September 20, 2022.
Based on what the Board considers to be a favourable resource estimate (see news release dated March 15, 2022) and geological results (see news releases dated January 12, February 22 and October 17, 2022), as well as current molybdenum futures prices (LME Platts 2 months and out of $29.75 on December 29th, 2022), the Board unanimously voted in favour of proceeding with the third anniversary option commitment (the "Third Option Payment"). The Third Option Payment consisted of the issuance of 1,750,000 Common Shares and a $300,000 cash payment to Global Drilling.
There are no work commitments required as part of the Agreement. The final fourth anniversary option commitment under the Agreement consists of, at the Company's election should it wish to exercise the Option, the issuance of 1,750,000 Common Shares and a cash payment of $640,000 on or before December 31, 2023.
Mr. Dave O'Brien, President and Chief Executive Officer of Stuhini stated: "The notable uptick in the LME Platts Molybdenum futures prices over the past month has enhanced the economic potential of the Ruby Creek Molybdenum deposit. We have now completed 4 of 5 payments associated with the option agreement by issuing the vendor 5.5 million common shares and paying cash consideration of $420,000. With only one payment remaining, we are close to our goal, which is 100% ownership of the Ruby Creek Tenures subject to a 1% NSR."
Global Drilling is beneficially owned by Barry Hanslit, a co-founder of the Company and the vendor of the Property. Immediately prior to the Third Option Payment, Mr. Hanslit beneficially owned or controlled 5,050,000 Common Shares representing approximately 14.6 % of the outstanding Common Shares on an undiluted basis. After the Third Option Payment, Mr. Hanslit beneficially owned or controlled 6,800,000 Common Shares, representing approximately 18.7% of the outstanding Common Shares on an undiluted basis as at the date of issuance, representing an increase in holdings of approximately 4.1%.
Mr. Hanslit has advised the Company that the Common Shares were acquired for investment purposes. Mr. Hanslit has a long-term view of the investment and may acquire additional securities of the Company including on the open market or through private acquisitions or sell securities of the Company including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other factors that Mr. Hanslit considers relevant from time to time.
A copy of the applicable early warning report will be filed on behalf of Mr. Hanslit on the Company's profile on SEDAR and may also be obtained by contacting Mr. Hanslit at (604) 639-2278, 8621 Forest Ridge Drive, Whistler, BC V8E 0G1.
Ruby Creek Project: The 28,631-hectare Ruby Creek Project is road accessible and located 14 kilometres (km) east of Atlin, British Columbia. There are 48 different documented mineral occurrences on the Property, of which 16 are gold-related, with 7 significant gold placer creeks. The Property also hosts the Ruby Creek Molybdenum deposit, which has an intact Mines Act (British Columbia) permit. Stuhini has an Option to acquire 100% of the Ruby Creek Project subject to a 1% Net Smelter Royalty.
About Stuhini Exploration Ltd.
Stuhini is a mineral exploration company focused on the exploration and development of precious and base metals properties in western Canada and south-western USA. The Company's portfolio of exploration properties includes: its flagship, the Ruby Creek Property located approximately 14 km east of Atlin, BC; the Que Project located approximately 70 km north of Johnson's Crossing in the Yukon; the South Thompson Project located approximately 35 km northwest of Grand Rapids, Manitoba; the Big Ledge Property located approximately 57 km south of Revelstoke, British Columbia; and its new portfolio of properties in south-east Arizona.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
David O'Brien, President & Chief Executive Officer, Telephone: (604) 835-4019, Email: dobrien@stuhini.com
Source: newswire.ca
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From: pstad60 | 1/3/2023 10:32:44 AM | | | | Insider participation in 1st tranche of private placement
Good to see CEO Dave O'Brien adding another 225,000 shares to his investment in Stuhini Exploration.
His total direct and indirect holdings are now 2,417,500 shares, 80,000 warrants exercisable @ $0.60, 112,500 warrants exercisable @ $0.35, 245,000 options at various exercise prices
He has participated in every financing of this company since its inception in May 2019.
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Date ..............................Issuer .......................................Insider ........................Transaction..................... Amount............New Balance |
Recent filings | Filed 2023-01-03 02:41
Tx date 2022-12-20 | $STU Stuhini Exploration Ltd. | O'Brien, David Bruce 5 - Senior Officer of Issuer Direct Ownership
| Common Shares 11 - Acquisition or disposition carried out privately | $51,750 +225,000 vol $0.23 each | 2,027,500 |
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From: pstad60 | 1/5/2023 1:28:31 PM | | | | Excellent source of information regarding the molybdenum market :
imoa.info
Be sure to check out the International Molybdenum Association website's Media Centre for blogs, news updates, yearly reviews and videos on moly.
Current molybdenum prices are at 15 year highs :
1 Month contract @ US$32.25 / lb 2 through 15 month contracts posted at @ US$31.65
lme.com
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Stuhini released an updated mineral resource estimate in early 2022 :
stuhini.com
Operating costs were estimated to be - Mo price used for the resource pit was US$15/lb Mo.
- Estimated operating costs used in the MRE (in US$) were $2.00/tonne for mining, $1.00/tonne for G&A, $5.00/tonne for processing and a roasting charge of $1.77/kilogram (“kg”) of Mo. Metallurgical recoveries of 92% were utilized in the determination of cut-off grades for the open-pit resource. - The resource is reported at a cutoff of 0.02% Mo. Cut-off calculations were based on metallurgical recoveries, operating costs for mining and processing, and metal prices described above.
The average resource grade of .00053% is approximately 1.16 pound of moly per tonne.
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For comparison:
Greenland Resources issued a Feasibility Study for their Malmbjerg moly desposit in Greenland in February 2022 .
greenlandresources.ca
CAPEX estimates for the Malmbjerge moly deposit starts on page 37 of the above referenced Feasibility Study.
Average moly price used US$18.00 / lb
Life of Mine operating costs estimated at US$12.42 / tonne
CAPEX for mill, tailings and processing facilities is estimated at US$820 million with additional sustaining CAPEX costs of US$218 million .... for a total of $1.038 Billion
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Assuming that the remoteness of the Malmbjerg moly deposit would be a little more expensive from a CAPEX and operational viewpoints due to the shipping costs and lack of any infrastructure in the area of the proposed operations.
On the other hand, Ruby Creek is road accessible, and an air strip is already located in the nearby town of Atlin. Hook up to the power grid would require maybe 10 -15 km of power lines run from the established electric supply.
At present moly prices and exchange rate, the in ground value of the pit constrained resource estimate for the Ruby Creek moly deposit :
US$31.65 X $1.355 exchange rate X 477 million lb = C$20,456,502,750
Any moly price over US$25.00 / lb makes the Ruby Creek moly deposit exceptionally economic.
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From: pstad60 | 1/13/2023 10:19:39 PM | | | | Stuhini Exploration Ltd. Closes Second Tranche of Private Placement
VANCOUVER, BC, Jan. 13, 2023 /CNW/ - Stuhini Exploration Ltd. (the "Company" or "Stuhini") (TSXV: STU) (OTCPK: STXPF) is pleased to announce that it has closed the second tranche of its non-brokered private placement (the "Private Placement") previously announced on December 6, 2022 and upsized on December 15, 2022 for gross proceeds of the second tranche to the Company of $474,218. The total aggregate gross proceeds raised under the first and second tranches of the Private Placement is $1,380,000.
Under the second tranche of the Private Placement, the Company has issued a total of 2,061,817 units of the Company ("Units") at a price of $0.23 per Unit. Each Unit consists of one common share (each a "Common Share") of the Company and one half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant is exercisable into one Common Share at a price of $0.35 per Common Share until January 13, 2025.
The net proceeds of the Private Placement will be used: (i) to fund the Company's exploration programs, including its four newly acquired mineral properties in south east Arizona; (ii) to fund the $300,000 cash option payment due December 31, 2022 (paid) under the option agreement pursuant to which the Company was granted a right to acquire a 100% interest in its Ruby Creek Property; and (iii) for general, corporate and administrative expenses.
In connection with the closing of the second tranche of the Private Placement, the Company paid finders' fees in cash totaling $9,225.76 to Canaccord Genuity Corp., PI Financial Corp. and Red Cloud Securities Inc. (collectively, the "Finders"), representing 8% of the gross proceeds from the sale of Units placed by the Finders, and issued to the Finders a total of 40,112 non-transferable finder's warrants ("Finder's Warrants"), representing 8% of the Units placed by such Finders. Each Finder's Warrant entitles the holder thereof to acquire one Common Share at a price of $0.35 per Common Share until January 13, 2025.
An insider of the Company purchased or acquired direction and control over a total of 87,000 Units under the second tranche of the Private Placement. Such participation is considered to be a "related party transaction" within the meaning of TSX Venture Exchange ("TSXV") Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61–101") adopted in the Policy. The Company has relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61–101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61–101 in respect of related party participation in the first tranche of the Private Placement as neither the fair market value (as determined under MI 61–101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves related parties, exceeds 25% of the Company's market capitalization (as determined under MI 61–101).
All securities issued pursuant to the second tranche of the Private Placement are subject to a hold period of four months and one day expiring on May 14, 2023. The Private Placement is subject to final approval of the TSXV.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Stuhini Exploration Ltd.
Stuhini is a mineral exploration company focused on the exploration and development of precious and base metals properties in western Canada and southwestern USA. The Company's portfolio of exploration properties includes: its flagship, the Ruby Creek Property located approximately 20 km east of Atlin, British Columbia; the Que Project located approximately 70 km north of Johnson's Crossing in the Yukon; the South Thompson Project located approximately 35 km northwest of Grand Rapids, Manitoba; the Big Ledge Property located approximately 57 km south of Revelstoke, British Columbia; and its new portfolio of 4 properties in southeast Arizona.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. Such forward–looking statements concern, without limitation, the intended use of proceeds of the Private Placement. Such forward–looking statements or information are based on a number of assumptions, any of which may prove to be incorrect. Assumptions have been made regarding, among other things: conditions in general economic and financial markets; timing and amount of capital expenditures; favorable weather conditions including but not limited to snow, rainfall and forest fires, and effects of regulation by governmental agencies. The actual results could differ materially from those anticipated in these forward–looking statements as a result of risk factors including, but not limited to: the availability of funds; the timing and content of work programs; results of exploration activities of mineral properties; the interpretation of drilling results and other geological data; and general market and industry conditions. Forward–looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Stuhini Exploration Ltd.
For further information:
David O'Brien, President & Chief Executive Officer, Stuhini Exploration Ltd., Email: dobrien@stuhini.com, Phone: (604) 835-4019, Web: www.stuhini.com
Source : newswire.ca
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From: pstad60 | 1/15/2023 11:15:01 AM | | | | MoS2 grade conversion to Mo grade
Have recently come across an interesting fact regarding companies that have reported their moly deposit in MoS2 (molybdenite) as opposed to molybdenum (Mo).
Stuhini has reported their molybdenum resource in molybdenum ( Mo ) Belwo are a couple of examples of companies reporting in molybdenite (MoS2)
In Greenland Resources March 2022 Feasibility Study has reported their Malmbjerge moly deposit in MoS2.
greenlandresources.ca
See Table 1.3 Sensitivity of the MRE to Cut-off Grade (Base Case Highlighted) on Page 1-9
The same reporting method of using molybdenite occurs in the CuMo Project’s May 2020 Preliminary Economic Analysis which is owned by American CuMo Mining. cumoco.com There is a conversion factor in the American CuMo PEA that is referred to for obtaining the equivalent value of molybdenum (Mo) instead of molybdenite (MoS2)
See 10.6 Metal Equivalent Calculations on Page 62, and also refer to the notes under the tables on Page 61. “ ….Note: The convention for the CuMo project has been to measure percent elemental molybdenum (%Mo) in assays and to calculate %MoS2 by multiplying %Mo by 1.6681 …. “ “….Note: that since the convention on the CuMo project has been to work with %MoS2 for resource estimation, in the foregoing equivalency formulae, %MoS2 is converted back to %Mo by dividing by 1.6681. %Mo is then converted to %MoO3 by multiplying by 1.5. Also, the %MoS2 Equiv values would be 1.6681 times greater than %Mo Equiv…..” Seeing that Greenland Resources share price has also been rising significantly over the past few months, let’s use the Greenland Resources mineral resource estimate for their Malmbjerge Project for comparison to Ruby Creek applying the conversion factor:
Greenland Resources trading at $1.18 currently sports a market cap of C$122 million, Stuhini's market cap at $0.48 share price is about $18.5 million. Greenland Resources uses a 0.08 MoS2 cut off grade which is equivalent to (0.08 / 1.6681 = 0.048% Mo)
Greenland Reasources average grade of 0.18% MoS2 / 1.6681 = 0.11% Mo average grade Conversely:
Stuhini’s Ruby Creek cut off grade of 0.02% X 1.6681 is equivalent to 0.0333% MoS2 cut off
Stuhini’s Ruby Creek 0.053% average grade is equivalent to 0.053 X 1.6681 = 0.0884% MoS2
A more apples to apples comparison after the conversion factor sees Malmbjerg with a 0.11% average Mo grade with a 0.048% Mo cut off grade, compared to Ruby Creeks reported 0.053% average Mo grade with a 0.02% cut off.
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If we refer to Stuhini’s Mineral Resource Estimate chart and look at the cut off grades of 0.045% and 0.050%, the average Mo grade would be 0.072 to 0.077 and there would be somewhere on the upper side between 272,762 lbs to 304,656 lbs of moly in comparison to Greenland’s reported 661 million lbs using a 0.08 % MoS2 cut off grade.
Malmbjerg, after the conversion factor, is a little more than twice the grade and size in resource than Ruby Creek, with roughly 55% more tonneage at this level compared to Ruby Creek.
Recall that some of the best drill results by the previous operator at Ruby Creek, Adanac Moly, reported some very high grade results from their final drilling that remain outside the pit constrained resource reported by Stuhini in the 2022 updated Mineral Resource Estimate . For example, Hole AD-417 reported 0.23% moly over the final 45 meters.
Chart of Ruby Creek Mineral Resource Estimate.

However, due to Malmbjerge's remoteness, I would suspect that the road accessible Ruby Creek moly deposit will be less expensive from both CAPEX and operations in comparison.
Greenland Resource (MOLY) issued a Feasibility Study on their Malmbjerge pure moly deposit in Greenland back in early 2022. That study provided a US$820 million price tag for a processing plant and tailings infrastructure with an additional US$218 million sustaining capex cost for a total of US$1.038 Billion.
In their Feasibility Study there are a few infrastructure expenses that shouldn't be required for any mill development at Stuhini's Ruby Creek project.
No airport strip to construct for a mine support at Ruby Creek, ....there is already an airfield in Atlin B.C .... whereas Malmbjerge is 33 km from the nearest airstip and 185 km from the nearest town. "The nearest sources of logistical support are in Iceland, and currently supplies must either be shipped or flown to Mestersvig and then airlifted by helicopter to the site." (Page 1-4)
Malmbjerge will require a 26 km RopeCon Conveyor system to trransport ore from the mine site to the mill. Malmbjerge will also require a port site facillity to be constructed for transportation of supplies, container storage, etc, and a road access construction will also be required. The Ruby Creek moly desposit has easy road access from the town of Atlin 14 km away and Atlin is about 90 km south of the TransAlaskan Hiway which runs through southern Yukon. The hiway south to Atlin is paved. Whitehorse, Yukon is about a 1 hour 45 minute drive from Atlin B.C . The Ruby Creek deposit is also 275 km by road from the sea port of Skgaway, Alaska.
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Based on the above data, Stuhini's market cap should be at least 1/2 of Greenland Resources currently at $122 million...... roughly $61 million ..... equating to a share price of $1.58 for Stuhini .
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Just a little more informations ....
Another somewhat apples to apples comparison of a molybdenum resource is the Kitsault deposit also in northwestern B.C held by New Moly Corp, who will most likely be listing some time in 2023. The overall grade is measured in Mo but it also has a silver component. Kitsault is already reported in molybdenum grades, as opposed to molybdenite
paidpromotionalmessages.ca “….. The report assumed an average annual production of 23.4 million pounds of molybdenum for a 16 year mine life at an operating cost of $4.76/lb, with the first five years averaging 29.6 million pounds per year.
The feasibility study also indicated a boost to the project's mineral resources, now estimated to contain Measured and Indicated resources totaling 298.8 million tonnes grading 0.072% molybdenum and 4.20 g/t Ag containing 472.5 million pounds of Mo and 40.3 million ounces of Ag, at a cut-off of 0.021%.
This represents a 9.7% increase of contained molybdenum and an 18% increase of contained silver over the company's prior estimate for measured plus indicated mineral resources, Avanti said.
In addition, the Inferred category now totals 157.1 million tonnes grading 0.050% Mo and 3.65 g/t Ag containing 172.2 million pounds of molybdenum and 18.4 million ounces of silver, an increase of 330% of contained molybdenum and 360% of contained silver from the pre-feasibility study results.
The Kitsault property, which is located about 140 km north of Prince Rupert, includes three known molybdenum deposits: Kitsault, Bell Moly, and Roundy Creek….. “
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From: pstad60 | 1/19/2023 10:21:10 AM | | | | Molybdenum price in Europe hits record high
Staff Writer | January 18, 2023 | 11:48 am Intelligence Markets Europe Copper Molybdenum

Moly market is red hot right now. Stock Image.
. The copper market took a breather on Wednesday after eight straight days of gains, but not before touching a fresh six month high of $4.39 a pound ($9,680 a tonne) in early trade, bringing its gains YTD to 12%.
 Copper stocks shot out of the gate in 2023 on optimism over a post-covid recovery in China, which consumes more than half the world’s copper.
Copper producers’ margins are also buoyed by a surge in the price of molybdenum, often produced as a byproduct of porphyry copper mines. Global moly production of 300,000 tonnes per year is primarily destined for the steel industry.
Argus reports that European prices for moly are now at the highest levels since the company launched its in-warehouse Rotterdam assessment in 2019 as supply from China slows. China produces over 40% of the world’s moly. Chinese ferro-molybdenum hit 15-year highs recently.
“There is zero availability on the ground and some people actually flew some material from China,” a trader in Europe told Argus.
“Global molybdenum consumption is expected to continue increasing over the next decade as demand for molybdenum-containing steels grows. But production has been squeezed by lower molybdenum content in mined ores seams and a lack of new molybdenum projects to meet demand,” according to Argus analysis.
China’s grip on the market is unlikely to relax any time soon. Zijin Mining (SHA:601899, HKG:2899), which at around 500,000 tonnes per annum is the world’s ninth-largest copper producer, last year acquired the world’s largest primary molybdenum-only mine with annual output of 27,200 tonnes per year.
In Canada, Stuhini Exploration (TSX-V: STU) is advancing the Ruby Creek molybdenum project in the far north of British Columbia. According to the company’s March 2022 resource estimates Ruby Creek contains just over 196,000 tonnes of moly alongside the property’s gold and silver ore.
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Source: mining.com
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From: pstad60 | 1/19/2023 10:36:04 AM | | | | EU Mo metal hits fresh highs on supply constraints
Published date: 11 January 2023
European prices for molybdenum ingot have climbed to their highest level since Argus launched the assessment in 2019, as firm demand in China compounds existing supply tightness.
Argus' assessment for minimum 99.8pc molybdenum ingot jumped to $75-80/kg in-warehouse Rotterdam yesterday, up from $65-70/kg late last week.
"For moly ingot, the supply of raw materials is too tight; demand in China is very strong, and it was especially firm in December," a Chinese supplier said. "Consumers in Europe need material and [for them] to find these price levels after the Christmas break is a concern."
"One of the biggest producers of moly oxide is not signing long-term for converters with Asia, they want to secure material with Europe and the US, and so they ask for a premium in Asia, " the supplier said. "Asian buyers do not want to pay a premium, so they didn't sign. That is why the spot market is so tight."
While there are some stocks of molybdenum oxide and ferro-molybdenum in Europe — as these are more liquid markets that garner more interest from traders — inventories of moly ingot in European warehouses remain critically low. The supply shortage emerged in 2022 with downstream consumers reporting less material available from China.
"There is zero availability on the ground and some people actually flew some material from China," a trader in Europe said.
Some traders tested the water this week and were offered material within a range of $78-80.50/t for February shipment but there was still some resistance to higher offers.
"I am not going to take a position when prices are at an all-time high," the trader said.
Other sources are awaiting material that is on the water and en route already, and they are avoiding taking any risks compounding shipping delays or reneges, they told Argus.
Both traders and end-consumers are also monitoring developments in the molybdenum complex looking for price direction. After severe increases, prices for oxide and FeMo softened yesterday in Europe.
European molybdenum oxide prices dropped to $31-31.60/lb duty unpaid Rotterdam from the 5 January assessment of $32.20-32.40/lb following lower prices in South Korea and lower bids from buyers. However, availability in Europe remains tight despite slower buying interest at higher levels.
Ferro-molybdenum prices fell to $71.15-72/kg duty paid Rotterdam, down from the 5 January assessment of $73-74.50/kg in response to some profit taking from traders.
Meanwhile, Chinese ferro-molybdenum prices are expected to take a pause in the coming week after hitting a 15-year high because of softening buying interest from steel mills and a slowdown in logistics services ahead of the 21-27 January lunar new year holiday.
But market participants noted that strong Chinese demand and a narrow spread between oxide and the alloy in Europe could curb any falls in the near term.
Global molybdenum consumption is expected to continue increasing over the next decade as demand for molybdenum-containing steels grows. But production has been squeezed by lower molybdenum content in mined ores seams and a lack of new molybdenum projects to meet demand.
By Cristina Belda
Source: argusmedia.com
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From: pstad60 | 1/26/2023 9:19:22 PM | | | | Molybdenum Prices Strengthening Again
Futures contract prices have rebounded to 15 year highs after pulling back to US$29.50/lb earlier last week.
lme.com
Current 1 month contract : US$31.66 / lb 2 to 15 month contracts : US$32.94/ lb
Back over C$20 billion in ground value for Stuhini's Ruby Creek pit constrained 477 million lb pure moly resource. If Stuhini sold the deposit for only 1% of the inground value it would be over $200 million,. If all warrants were fully exercised, there would be approx 43.8 million Stuhini shares outstanding, equating to C$4.56 per share in value at current moly price.
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From: pstad60 | 1/31/2023 11:53:23 AM | | | | Stuhini Exploration about more than just molybdenum
With the Ruby Creek moly deposit being their flagship asset, keep an eye on the molybdenum futures contract prices continuing to move higher.
lme.com
Current 1 month contract : US$31.93 / lb
2 to 15 month contracts : US$33.67/ lb
US$33.67 X 477 million lbs = US$16,060,590,000 in ground value or US$33.67 X $1.34 exchange rate X 477 million lbs = C$21,521,190,600
At the current moly quote, just over C$215 billion in ground value for Stuhini's Ruby Creek "pit constrained" 477 million lb moly resource
If Stuhini sold the deposit for only 1% of the inground value it would be roughly $215 million.
If all warrants were fully exercised there would be approx 43.8 million Stuhini shares outstanding ..... roughly C$4.90 per share in value at current moly price.
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If this were a gold deposit it would be equivalent to 8.3 million oz of gold: US$16,060,590,000 / US$1920 / oz = 8,364,900 oz au deposit
If this were a silver deposit, it would be equivalent to almost 680 million oz of silver. US$16,060,590,000 / US$23.65 / oz = 679,094,714 oz silver
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Stuhini Exploration is absurdly under priced for the underlying asset value of its known molybdenum resource. The moly deposit is in all likelihood much larger.
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When Adanac Molybdenum Corp controlled this property, they had a market cap in excess of C$300 million when moly prices were last at these levels in 2007-08. . By comparison Stuhini's market cap is only C$18 million. .
The Ruby Creek moly deposit is very advanced. Adanac Moly Corp produced a Feasibility Study in 2007, and subsequently obtained an $800 million credit facility to begin development of a processing plant at Ruby Creek, just prior to the credit crisis in 2009. Moly prices collapsed, placing Adanac into creditor protection and eventual bankruptcy. One of the co-founders of Stuhini picked up the Ruby Creek Project and vended the property into Stuhini in 2019.
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Stuhini is not just a moly play, The Ruby Creek Project also hosts prospects for gold and silver as well. The company also has another gold prospect, the Que project in southern Yukon, a zinc play at their Big Ledge Project near Revelstoke B.C, a nickel prospect in the South Thompson Nickel Belt of Manitoba, and some recently added gold, copper/gold prospects in Arizona.
The company has previously reported some extrememly high grade silver and gold samples at other locations on their Ruby Creek project.
STUHINI EXPANDS ADERA ZONE TARGET AND SAMPLES UP TO 5681 G/T AG AT RUBY CREEK ADERA CORRIDOR
stuhini.com
STUHINI EXPLORATION DISCOVERS NEW HIGH-GRADE SILVER MINERALIZATION, SAMPLING UP TO 456 OZ/TONNE (14,179 G/T) SILVER
stuhini.com
STUHINI IDENTIFIES GOLD TARGET AREAS AT RUBY CREEK AND SAMPLES UP TO 121 G/T GOLD
stuhini.com
STUHINI IDENTIFIES NATIVE GOLD WITH COPPER, SILVER AND TUNGSTEN IN BOTH HISTORICAL DRILLING AND CURRENT SURFACE SAMPLING WITHIN THE SURPRISE LAKE BATHOLITH, ATLIN, BC, CANADA
stuhini.com
STUHINI IDENTIFIES HIGH-GRADE SILVER MINERALIZATION AT SILVER SURPRISE AND DAYBREAK, SAMPLING UP TO 16,030 G/T SILVER
stuhini.com
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CEO Dave O'Brien has mentioned in a couple of interviews in 2022 that he would like to spin off the molybdenum project into a separate entity and form a new exploration company with the remaining highly prospective areas of Ruby Creek, and their other projects.
Stuhini Exploration (STU) - Focus on World Class Molybdenum Project
youtube.com
Talk about splittng the company up begins around the 6 minute mark until 12 minutes .
Stuhini Exploration (STU) - Technical Analysis & Due Diligence
youtube.com
Discussion of spinning off the moly deposit off from the rest of the exploration assets occurs in a couple of places, first mention is around the 2:45 mark, the more in-depth discussion of a plan of arrangement / spin off / strategic partnership begins around the 44 minute mark.
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GLTA ! |
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