"The gold price “rush” now occurring is another factor increasing the supply of molybdenum in the U.S. Past producing gold mines are being brought into operation, as fast as environmental permitting will allow throughout the U.S. west.

Many of them produced molybdenum as a by-product that was ignored when, as recently as six years ago it was worth only $3.50 per pound. Last June, 2005, molybdenum touched $50 per pound; it has since settled at about half of that, but I think that we will not see any further decreases as long as the economies of Asia and India are growing."

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