Sprott Molybdenum Participation Corporation was a dedicaded commodity hedge fund created in April 2007 by prominent 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. The fund was listed on Toronto Stock Exchange under the ticker MLY.
Video Sprott Molybdenum Participation Corporation
Investments
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.
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. As a result, the fund had to liquidate itself and distribute residual assets to shareholders.
Maps Sprott Molybdenum Participation Corporation
See also
- Gold exchange-traded fund
- Minor metals
- Uranium Participation Corporation
Rare materials as investments
- Diamonds as an investment
- Palladium as an investment
- Platinum as an investment
- Silver as an investment
- Gold as an investment
- Uranium as an investment
- Lithium as an investment
References
External links
- Official website -- closed
- IPO for Sprott Molybdenum gets $36M lift
- Welcome To The Sprott Molybdenum Participation Corp HUB On AGORACOM
Source of the article : Wikipedia
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