I guess Eric believes enough in his moly picks to buy back some shares, (ttm is in the moly fund). It is rediculous as not only does his corp hold shares of moly companies it also holds physical moly which hit 40 bucks. Yesterdays close was $3.20 and the NAV is $5.12. Those with lots of cash willing to take risk in these markets eventually come out rich.

Sprott Molybdenum Participation Corporation Announces Normal Course Issuer Bid

TORONTO, Aug. 12, 2008 (Canada NewsWire via COMTEX News Network) --

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(TSX: MLY, MLY.WT) - Sprott Molybdenum Participation Corporation (the "Corporation") announces a normal course issuer bid. The Corporation intends to purchase, through the facilities of the Toronto Stock Exchange ("TSX"), up to 2,340,391 common shares of the Corporation ("Shares") representing approximately 10% of the unrestricted public float. The unrestricted public float of the Corporation as of August 5, 2008 was 23,403,912 Shares. The Corporation may purchase up to 806,214 Shares in any 30 day period which is 2% of the 40,310,712 issued and outstanding Shares as at August 5, 2008.

The Shares may be purchased for cancellation commencing on August 14, 2008 through to August 13, 2009 through the facilities of the TSX and may be purchased when the net asset value per Share exceeds its trading price. A Notice of Intention to Make a Normal Course Issuer Bid has been accepted by the TSX effective as of August 12, 2008.

The purpose of the normal course issuer bid is to provide the Corporation with a mechanism to decrease the potential spread between the net asset value per Share and the market price of the Shares. For the period August 14, 2007 to August 5, 2008, 4,177,600 Shares were purchased by the Corporation under its normal course issuer bid at a weighted average trading price of $4.56 per Share (excluding commission charges).

BBOB