Molycorp (MCP) Posts Q1 adj.-Loss of 28c/Share

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Go back to Molycorp (MCP) Posts Q1 adj.-Loss of 28c/Share

Molycorp (NYSE: MCP) Reports First Quarter 2015 Financial Results

May 7, 2015 7:01 AM EDT

HIGHLIGHTS:

The Company reported higher production volumes in the first quarter of 2015 at its Mountain Pass, California rare earth facility of 1,479 metric tons ("mt") of rare earth oxide ("REO") equivalent. This was an 11% increase over the fourth quarter 2014 production of 1,328 mt.    The Company reported first quarter 2015 product sales volume of 3,436 mt on a consolidated basis, a 9% increase over the fourth quarter of 2014. The Company achieved an average selling price ("ASP") of $30.97 per kilogram in the first quarter of 2015, versus an ASP of $36.91 in the preceding quarter, a 16% decline.     Net revenues for the quarter were $106 million, an... More