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wax (94.38)

The Companies of Moly B

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May 03, 2009 – Comments (2) | RELATED TICKERS: FCX , HMY , TC

It covers 11 companies, contains 41 pages, and took me more than 150 hours to research, type, edit, compile, and post. It has misspelled words, run on sentences, and words that take practice to pronounce.

I was a paid a commission by an acquaintance to produce the report, and when I consider the hours I spent fulfilling the obligations of that commission, I ended up earning a wee bit more than minimum wage.

But in the end, the client was happy, I earned a few extra bux and can now share my efforts.

The report contains some information about the Molybdenum industry as well as 11 companies I picked that are in the Molybdenum business, though in most cases, not exclusively.

Wax

The Companies of Moly B - A Wax Ink Raw Value Report

2 Comments – Post Your Own

#1) On May 03, 2009 at 1:35 PM, UltraContrarian (99.81) wrote:

So to summarize you like the companies in roughly this order:

1. Rio Tinto

2. Freeport McMoRan

3. Yamana Gold

4. Thompson Creek

5. Teck Cominco

6. Taseko

7. US Energy Corp

8. Harmony

9. Northern Dynasty

10. General Moly

11. Augusta Resources

 

I would have liked more info on the market for molybdenum itself.  Is it traded on the CME?  Why has it fallen so much? How much has demand fallen by?  Etc.

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#2) On May 03, 2009 at 7:40 PM, wax (94.38) wrote:

UC;

The order of the companies is unimportant to me really, I'm really not enamoured with any of them. However, if I were going to pick just one based on what I know about the companies today, it would be Teck Cominco.

Granted the company has, what to me, are management issues. It isn't that management has made bad decisions, it's that they haven't made decisions in the spirit of true entrepreneurs.

Certainly there are metrics that can be used to help quantify management, but in the end, a fair evalutation of management is only qualifiable and not really quantifiable.

So for me, it comes down to the entrepernurial spirit of management.

As I said, I think Teck management has missed the ball. But look at the size of the company. Look at the "other" business interests the company has, coal and oil sands to name a couple, and finally look at the amount of free cash flow the company generates.

Now if management will just take the time to realize what they have, and start developing a long-term growth strategy, the company would like much more like a sound investment.

As to more information on Molybdenum, the client was interested in the companies, not the material, so I gave just a small bit of background.

Wax

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