Molycorp Inc (NYSE:MCP) Decreases Value of Its Net Assets

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Las Vegas, NV -- (SBWIRE) -- 01/15/2013 -- Molycorp Inc (NYSE:MCP) is down 0.74 percent today at $8.72. The company has been targeted as prime acquisition opportunity after a drop in its net assets value. The company claims to have biggest rare earth ore deposits at western hemisphere that have been extended by 36 percent in California. This would approximately expand the company’s reserve to 18.4 million short tons of rare earth mineral.

Molycorp Inc also warned that there is reduction in revenue expectations in 2013 due to reduction in prices of rare earth minerals. Moreover, increased production cost at Rare earth manufacturing complex California has resulted into lower profitability.

Ono the other hand, analysts foresee that the company would report Revenue around $954 million for the year 2013.

To find out what OTCMAGIC projects for Molycorp Inc, for both short term and long term please click here: MCP

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