Each one in plain English, with the numbers worked through for a shareholder.
27 May 2011substantial holder notice● Neutral
Resource Capital Fund IV L.P, Resource Capital Associates IV L.P, RCA IV GP L.L.C, Resource Capital Fund V L.P, Resource Capital Associates V L.P, RCF V GP Ltd reported a Molycorp, Inc. shareholding of 15,627,423 shares (18.60% of votes) in a periodic institutional filing.
Molycorp bought 80% of Silmet, an Estonian rare earth metal processor, from Silmet Grupp for $80 million paid in 1,593,419 newly issued Molycorp shares (a 90-day lock-up applies). It also bought a further 10.023% of Silmet from Treibacher for $9,020,700 in cash, taking its stake to about 90%. This is Molycorp's first acquisition in this record and issues new shares to the seller.
Resource Capital Fund IV L.P, Resource Capital Associates IV L.P, RCA IV GP L.L.C, Resource Capital Fund V L.P, Resource Capital Associates V L.P, RCF V GP Ltd reported a Molycorp, Inc. shareholding of 15,627,423 shares (19.00% of votes) in a periodic institutional filing.
Molycorp Minerals agreed with Quinn Process Equipment to buy additional mixers for $4,553,920 plus tax and freight, added to the December 2010 order for mixer and settler systems priced at $21,437,853. The filing ties the purchase to the ongoing modernization and expansion plan at Mountain Pass.
Resource Capital Fund IV L.P, Resource Capital Associates IV L.P, RCA IV GP L.L.C, Resource Capital Fund V L.P, Resource Capital Associates V L.P, RCF V GP Ltd reported a Molycorp, Inc. shareholding of 16,460,135 shares (20.00% of votes) in a periodic institutional filing.
BAMCO INC /NY/, Baron Capital Group, Inc, Baron Capital Management, Inc, Ronald Baron disclosed a new substantial Molycorp, Inc. shareholding (5.56% of votes).
Molycorp used proceeds from its August 2010 IPO to set up a cash collateral account backing the surety bonds for Mountain Pass closure and reclamation obligations. This replaced the letters of credit that nine early investors (including Resource Capital Funds IV and V and TNA Moly Group) had provided, so those letters were released on September 13, 2010 and the 5% annual return Molycorp Minerals owed them ended. No early termination penalties were incurred.
Resource Capital Fund IV L.P, Resource Capital Associates IV L.P, RCA IV GP L.L.C, Resource Capital Fund V L.P, Resource Capital Associates V L.P, RCA V GP Ltd disclosed a new substantial Molycorp, Inc. shareholding (26.73% of votes).