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First Explorer at the "Ring of Fire" and presently drilling on the "BIG DADDY" Chromite/Pge's jv'd property...yet we were robbed

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Message: The Chinese factor

The Chinese factor

posted on Mar 07, 2010 05:19PM

I went out to the Mining Weekly ( http://www.miningweekly.com/ ) this afternoon to have a look at some of its stories. There's a story about the Chinese investing in molybdenum and a company called General Moly (GMO). The Chinese factor bounced GMO over 54% that day.

Here's a bit of the news story pertinent to the chromium found up at the ROF:

"China, the world's largest molybdenum producer, has seen a surge in demand for the stainless steel material in last five years, mainly due to its infrastructure development program. The country now is the biggest molybdenum consumer. 'It looks like a pretty smart transaction,' Scotia Capital analyst Lawrence Smith said by phone.

'In my view, demand is going to grow relatively high in the next decade and I am sure Hanlong is looking at this as a very long term investment,' the analyst said."

General Moly can be found at this link: http://www.generalmoly.com/ . Under recent news at this link, you will see some news about a shareholder rights plan. Sound familiar? When you're hot, you're hot!

I have no idea what's going to happen with SPQ at this point in time. Maybe the Chinese are interested; maybe not. However, I do know that SPQ is in the middle of some very exciting mineral exploration. And if the provincial government starts really talking about infrastructure, the Chinese and many other groups will start seriously getting involved. Five cents is cheap. So cheap. Cliffs knows it; the Chinese know it.

All IMHO.

Snug

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