Molycorp (MCP) Peers Move Higher on $390M Molymet Investment (REE) (AVL)

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Molycorp (MCP) Peers Move Higher on $390M Molymet Investment (REE) (AVL)

posted on Feb 01, 2012 08:42AM

http://www.streetinsider.com/Insiders+Blog/Molycorp+%28MCP%29+Peers+Move+Higher+on+%24390M+Molymet+Investment+%28REE%29+%28AVL%29/7125615.html

Molycorp, Inc. (NYSE: MCP) peer moving following reports of an investment by Molibdenos y Metales S.A. (Molymet) to the tune of $390 million in exchange for 12.5 million shares of Molycorp.

The basic calculation indicates an investment of $31.2 per share by Molymet, a slight increase from yesterday's close of $30.98.

Molycorp is up about 6 percent early. Also moving higher are Avalon Rare Metals (AMEX: AVL), and Rare Element Resources (AMEX: REE).

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