Sprott Molybdenum Participation Corporation
| Sprott Molybdenum Participation Corporation | |
| Public company | |
| Traded as | TSX: MLY (trading ceased) |
| ISIN | 🆔 |
| Industry | Financial services |
| Founded 📆 | 2007 |
| Founder 👔 | |
| Headquarters 🏙️ | Toronto, Canada |
Area served 🗺️ | |
Key people | Eric Sprott |
| Products 📟 | Hedge fund |
| Members | |
Number of employees | |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
Sprott Molybdenum Participation Corporation was a dedicated commodity hedge fund created in April 2007[1] by Canadian investor Eric Sprott to invest in molybdenum assets. The primary investment objective of the corporation was to achieve capital appreciation by investing in securities of private and public companies that explore for, mine, and process molybdenum.[2] The fund was listed on Toronto Stock Exchange under the ticker MLY.
Investments[edit]
The fund purchased shares of both molybdenum miners and the physical metal. Substantial investments were made into shares of Blue Pearl Mining, arguably the world's largest publicly traded, pure play molybdenum producer.[3]
From April 2007, when Sprott raised C$200 million ($167.9 million) to January 2009, prices for molybdenum fell by 57 percent, and the fund's value plunged 76 percent.[4] As a result, the fund had to liquidate itself and distribute residual assets to shareholders.[5]
See also[edit]
Rare materials as investments[edit]
- Diamonds as an investment
- Palladium as an investment
- Platinum as an investment
- Silver as an investment
- Gold as an investment
- Uranium as an investment
References[edit]
External links[edit]
- Official website — closed
- IPO for Sprott Molybdenum gets $36M lift
- Welcome To The Sprott Molybdenum Participation Corp HUB On AGORACOM
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