Quadra, An Update

As stated in previous posts, Quadra is going to have big earnings for 2007. Quadra made a hedge on the wrong side and it cost them $144 million in derivative losses.
But Quadra is moving forward. They recently entered purchase agreement for a large molydenum property with good grades of molybdenum. The graph shows the size of the Malmbjerg deposit relative to other deposits.

The tables below show the actual break down of the Malmbjerg deposit. The deposit as a whole has an average of 2.6 lbs of molydenum per ton. Using a 0.2% MoS2 cut off it averages 3.2 lbs/ton for over 300 million pounds of molybdenum.


Malmbjerg Deposit - Measured Mineral Resources

Cut-off (% MoS2)	Tonnage (tonnes)	Grade (% MoS2)	Million lbs Molybdenum	Avg # lbs moly/ton	cut-off # lbs moly/ton
0.28	6,900,000	0.311	28.3	4.11	3.70
0.26	11,700,000	0.293	45.3	3.87	3.43
0.24	21,700,000	0.273	78.2	3.60	3.17
0.22	30,500,000	0.261	105.1	3.45	2.90
0.20	37,300,000	0.252	124.1	3.33	2.64
0.15	48,800,000	0.234	150.7	3.09	1.98
0.12	52,900,000	0.226	157.8	2.98	1.58

Malmbjerg Deposit - Indicated Mineral Resources

Cut-off (% MoS2)	Tonnage (tonnes)	Grade (% MoS2)	Million lbs Molybdenum	Avg # lbs moly/ton	cut-off # lbs moly/ton
0.28	6,400,000	0.301	25.4	3.97	3.70
0.26	13,100,000	0.285	49.3	3.76	3.43
0.24	23,600,000	0.269	83.8	3.55	3.17
0.22	39,100,000	0.253	130.6	3.34	2.90
0.20	60,600,000	0.238	190.4	3.14	2.64
0.15	124,300,000	0.206	338.0	2.72	1.98
0.12	163,900,000	0.188	406.7	2.48	1.58

Malmbjerg Deposit - Measured and Indicated Mineral Resources>

Cut-off (% MoS2)	Tonnage (tonnes)	Grade (% MoS2)	Million lbs Molybdenum	Avg # lbs moly/ton	cut-off # lbs moly/ton
0.28	13,300,000	0.306	53.7	4.04	3.70
0.26	24,800,000	0.289	94.6	3.81	3.43
0.24	45,300,000	0.271	162.0	3.58	3.17
0.22	69,500,000	0.257	235.8	3.39	2.90
0.20	97,900,000	0.243	314.0	3.21	2.64
0.15	173,100,000	0.214	489.0	2.82	1.98
0.12	216,800,000	0.198	566.6	2.61	1.58