Attended this conference over the weekend. In general... the supply/demand curve is out of whack for all metals. Demand is out stripping supply in each metal. Moly came up several times in presenter talks... outlining all the uses and increasing applications of Mo. Mo is seen as a sleeper and due for a correction this year. It was all good... the mega cycle is expected to continue for 20 years of which we are 7 years into it.

On the flip side, of course, is the US implosion. Don't see an end of this anytime soon. A number of presenters presented a convincing argument that the BRIC contries will more than make up for any US drop in consupmtion. In fact... western countries are already a small % of consupmtion with China leading the pack with HUGE consumption, including 50% of the worlds cement (incredible).

Looking forward to reports from TTQ from Germany.

Stronger and longer after this weekend.

m.z.