Molycorp Stock Halted 1/24/11 - News Pending......
Shares of Molycorp (MCP) have just been haltet today, January 24, 2011. This is a T-1 halt which means news pending
Update - 10:19am EST
Molycorp (MCP) was halted to notify current investors that certain IPO holders will be selling up to $500 million in stock. Molycorp will not be selling any stock nor getting any of the proceeds.
This is not dilution - The selling stockholders named in this prospectus are offering shares of our common stock. We are not selling any shares of our common stock in this offering. We will not receive any proceeds from the sale of common stock by the selling stockholders.
http://www.sec.gov/Archives/edgar/data/1489137/000095012311004672/d78447sv1.htm
Update #2 - 10:34am EST
More News - Molycorp Announces Approval of Phase 2 Expansion at Mountain Pass, a Proposed Mandatory Convertible Preferred Offering by the Company and Proposed Secondary Offering of Common Stock - Still No Dilution Yet
http://phx.corporate-ir.net/phoenix.zhtml?c=236277&p=irol-newsArticle&ID=1519052&highlight=