December 10, 2010 9:14 AM | 1 min read |
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Molycorp, Inc. (NYSE: MCP) is up almost 3% in pre-market trading after the rare Earth miner and Japanese investment firm Sumitomo Corporation
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
a $130 million equity and debt agreement this morning.Sumitomo will buy $100 million of Molycorp shares and provide Molycorp $30 million in debt financing at a low interest rate.“We are very pleased to have entered into the Memorandum of Understanding with Sumitomo,” said Mark Smith, Molycorp's CEO. "This financing will help to ensure that Molycorp will deploy its entire mine-to-magnets manufacturing supply chain on time and on budget."“The Memorandum of Understanding underscores our high level of confidence in Molycorp's ability to execute its ‘mine-to-magnets' business strategy and to provide competitive and stable sources of high-quality rare earth products for many years to come,” said Rei Ito, General Manager of Sumitomo's Inorganic Chemicals & Industrial Minerals Department. Shares of Molycorp are up 89 cents to $31.68, a gain of 2.9%.
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