Thursday, December 13, 2012

Investopedia: Molycorp Facing Even More Uncertainty, And At The Wrong Time

Wall Street hates uncertainty, but rare earth miner Molycorp (NYSE:MCP) is providing exactly that right now, and along multiple lines. There were already sufficient worries in the market about the future of rare earth oxide (REO) prices and whether years of elevated prices had permanently destroyed demand, and the announcement of an investigation by the Securities And Exchange Commission (SEC) didn't help. Now the company has to deal with the unexpected resignation of its CEO at a time when it also likely needs to arrange additional financing.

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