November 22, 2007
Adanac Molybdenum Corporation
Head Office:
Ste 200, 2055 - 152nd St
Surrey BC V4A 4N7
Tel: 604-531-9639
Fax: 604-531-9634
Email: info@adanacmoly.com
Website: www.adanacmoly.com
Key Personnel: Larry W. Reaugh, Executive Chairman; Michael MacLeod, President & CEO; Ed Lee, Executive Vice President
Nature of Ownership: Public
Volume: $270,000,000
Areas of Expertise: Mining
Corporate Profile: New pressures in molybdenum supply and demand have risen to the forefront this millennium where usage of the metal is entering a new era. Asia is finally experiencing an industrial revolution that will strain existing resources for the next several decades. Currently the abundance of existing molybdenum deposits will easily fill increased demand, but are years away from obtaining production. Adanac’s belief is that the 20,000 tonne per day open pit Ruby Creek mine will be the first major primary molybdenum mine to be brought into production and will enjoy the highest prices resulting in rapid payback of investment. Recognizing the moly trend in late 2003 the company implemented its plan to produce their Ruby Creek Molybdenum Deposit by early 2008. Currently the company has an 18 month lead over similar projects.
Major Projects: Ruby Creek, BC; B&C Springs, Nevada; Pine Nut, Nevada; Cucomungo, Nevada.
—updated November, 2007
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