Molybdenum prices have been steadily increasing for the past 18 months with current spot price of moly now trading at US$40.82 / lb 

https://www.dailymetalprice.com/metalprices.php

Monthly contracts for moly currently are

1 month contracts  - US$36.49/lb

2-15 month contracts - US$37.36/lb

https://www.lme.com/en/Metals/EV/LME-Molybdenum-Platts#Trading+day+summary

The Ruby Creek molybdenum deposit which was formerly operated by Adanac Molybdenum Corp is now owned by Stuhini Exploration (STU.v) 

One of the two co-founders of Stuhini Exploration (STU.v) bought the Ruby Creek project in 2016 and it was vended into Stuhini in 2019. There is one more option payment to be made by December 2023 and Stuhini will then own 100% of the entire project.

Management of Stuhini Exploration have stated publicly in the past year that they would like to split the moly deposit off from the rest of the Ruby Creek exploration properties and create a stand alone company for the molybdenum deposit and another new SpinCo with the remaining Ruby Creek land package and the rest of the company's other exploration projects located in Western Canada and Arizona. 

Stuhini Exploration has approx 38.4 million shares outstanding and roughly 5.3 million warrants exercisable at $0.60 and $0.35 with expiry dates of Aug 2024 and January 2025. 

Stuhini Exploration currently has more than enough money to advance the final option payment of 1,750,000 shares and $640,000 cash to complete the December 2023 option.  Once Stuhini owns the Ruby Creek project outright, it can begin the process of splitting the molybdenum project out from the rest of the company, and potentially bring in a strategic investor to further advance the molybdenum project to development and exploitation. 

Stuhini hired Mine Development Associates to do an updated mineral resource estimate which was completed in early 2022 .  

https://static1.squarespace.com/static/5a5e6f708a02c7259a0a2606/t/62674984b45ca03bd1346557/1650936231139/43-101_Ruby_Creek_Resource_v21.pdf

Using a cut-off grade of 0.020% Mo, the measured and indicated resource is 369,398,000 tonnes at 0.053% Mo for 432,991,000 lbs, and an inferred resource of 41,946,000 tonnes at 0.043% Mo for another 43,650,000 lbs. The reported ~477 million lbs moly resource is pit constrained .

A recent acquisition occurred in October 2022 which provides a price point for in ground valuation.

Zijin Mining, one of China's larger mining company's purchased the world's largest pure molybdenum deposit, Shapinggou, in October 2022. Details here:

https://www1.hkexnews.hk/listedco/listconews/sehk/2022/1023/2022102300035.pdf

The Zijin Mining acquisition price price works out to approx US$0.16/lb, or C$0.215/lb in the ground. The Shapinggou moly despoit will be an undergound operation whereas Ruby Creek would be a less expensive open pit mining operation.

Using the Zijin Mining acquisition price of C$0.215 / lb paid for Shapinggou, would see an equivalent value of Ruby Creek selling for C$102,500,000 (477 million lbs X$0.215/lb)

Stuhini has a partially diluted share structure of 43.7 million shares if all warrants were exercised. 

If Ruby Creek were to be bought out for the same valuation as Shapinggou the price would be equivalent to $102,500,000 / 43.7 million shares = $2.34 / share

Stuhini currently trades at $0.50 

I applied to get a new hub running for Stuhini more than three weeks ago. Hopefully Agoracom.com will get the new hub up and running soon.