Articles Tagged "california"

Molycorp Takes a Hit Following Q1 Results Release

The company incurred a net loss of $102 million, or $0.42 per share, for Q1. Meanwhile, it's facing delisting from the NYSE and is concerned about repaying convertible notes maturing in June. Overall, if Molycorp is "unable to execute [its] business plan and restructure [its] debt, [it] may not be able to continue."

Molycorp Gains 77 Percent on Siemens Supply Deal

Shares of Molycorp jumped Wednesday on news that the company has secured a 10-year rare earths supply deal with Siemens. Under the terms of the agreement, Molycorp will supply rare earth materials to Shin-Etsu Chemical, which will produce rare earth magnets for Siemens to use in its high-efficiency, direct-drive wind turbines.