Molycorp Announces Share Amounts, Estimated Price Range for Initial Public Offering

GREENWOOD VILLAGE, Colo., Wednesday, July 14th 2010 [ME NewsWire]:

(BUSINESS WIRE)-- Molycorp, Inc., whose wholly owned subsidiary, Molycorp Minerals, LLC, is a U.S. rare earth producer and technology company, today announced that it filed an amendment to its registration statement on Form S-1 with the U.S. Securities and Exchange Commission (“SEC”) for a proposed underwritten initial public offering of its common stock. Molycorp proposes to sell 28,125,000 shares of common stock in the offering. Additionally, Molycorp will grant the underwriters an option to purchase up to 4,218,750 shares of common stock to cover over-allotments, if any. The estimated price range for the initial public offering is $15.00 to $17.00 per share.


Molycorp expects to use the net proceeds of the offering primarily for the modernization and expansion of its Mountain Pass, California rare earth mining and production facility.


Morgan Stanley & Co. Incorporated and J.P. Morgan Securities Inc. will act as joint book-running managers for the proposed offering. CIBC World Markets Corp., Credit Suisse Securities (USA) LLC, Stifel, Nicolaus & Company, Incorporated, Dahlman Rose & Company, LLC, Piper Jaffray & Co., Knight Capital Markets LLC, Houlihan, Lokey, Howard & Zukin Capital, Inc. and GMP Securities L.P. will act as co-managers for the proposed offering. The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the offering may be obtained from Morgan Stanley & Co. Incorporated, Attention: Prospectus Department, 180 Varick Street, New York, New York 10014 (1-866-718-1649, email address: prospectus@morganstanley.com); or from J.P. Morgan Securities, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717.


A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute a solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.


For media enquiries, please contact:

Molycorp, Inc.
Jim Sims,

303-503-6203