Molycorp (MCP) Peers Move Higher on $390M Molymet Investment (REE) (AVL)
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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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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).
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
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