Molycorp marks $2 million operating loss for May; revenue increases

By Caroline Salls

Pittsburgh, June 30 – Molycorp, Inc. posted a $2 million operating loss for May on $13.33 million in total revenue, according to its monthly operating report filed Thursday with the Securities and Exchange Commission.

In comparison, Molycorp reported a $9.06 million operating loss for April on $12.25 million in total revenue.

The company also had $44.28 million in cash and cash equivalents as of May 31, down from $53.19 million at the end of April.

Molycorp is a Greenwood Village, Colo., producer of materials from rare earth minerals that filed for bankruptcy on June 25, 2015 in the U.S. Bankruptcy Court for the District of Delaware. The Chapter 11 case number is 15-11357.

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