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What is Molybdenum?

Molybdenum is a silvery-white metal that is ductile and highly resistant to corrosion. The mineral is used as an alloying metal to steel and cast iron to improve corrosion resistance, strength and weldability. It's most popular use are in steel making, oil exploration, drilling and production due to its anti-corrosion benefits. The metal is also used to make lighter and stronger steel and superalloys that have been in high demand in the aerospace and automotive sector.

It is estimated 60 percent of global molybdenum supply comes as a byproduct of copper smelting. The remaining production comes from primary Molybdenum mines like the Max Mine and Mill.

China is the world's largest producer and consumer of minor metals and is the largest molybdenum producer generating 227,000 metric tons in 2018 and accounting for 40 percent of the world’s supply. As the largest consumer and producer of molybdenum, the country essentially sets the global market direction and has a big effect on supply and demand for this mineral. The government has recently been tightening up its mining standards in an effort to meet more stringent environmental regulations and this is expected to cause supply disruptions as mines are upgraded or closed. This is causing shortages in the metal and it’s price has been on the rise over the last 12 months.

  • Atomic number (number of protons in the nucleus): 42
  • Atomic symbol (on the periodic table of the elements): Mo
  • Atomic weight (average mass of the atom): 95.96
  • Density: 10.2 grams per cubic centimeter
  • Phase at room temperature: Solid
  • Melting point: 4,753 degrees Fahrenheit (2,623 degrees Celsius)
  • Boiling point: 8,382 degrees F (4,639 degrees C)
  • Number of isotopes (atoms of the same element with a different number of neutrons): 24 whose half-lives are known with mass numbers from 86 to 110.
  • Most common isotopes: Mo-98 (24.1 percent); Mo-96 (16.7 percent); Mo-95 (15.9 percent); Mo-92 (14.8 percent); Mo-97 (9.6 percent); Mo-100 (9.6 percent); Mo-94 (9.2 percent).

What is Molybdenum Used For?


  • Structural steel
  • Stainless steel
  • Missiles
  • Drills
  • Saws
  • Jet engines
  • Power-generation turbines
  • Automotive parts
    • Cylinder heads
    • Motor blocks
    • Exhaust manifolds
    • Mufflers
  • Milling and crushing equipment


  • Petroleum refineries
  • Polymer production
  • Plastic production


  • Two-stroke engine oil
  • Bicycle coaster brake oil
  • Bullets
  • Ski waxes
  • Ball bearings


  • Used in Paints and Dyes
    • Inhibits corrosion
    • Stabilizes color
  • Rubber
  • Plastic
  • Ceramics
  • Textiles


  • Essential component of Nitrogenase
    • Makes nitrogen from the air available to plants
  • Sodium molybdate
    • A fertilizer for plants such as cauliflower and beans used to increase crop yields

Molybdenum Market Overview

Molybdenum was the best price performer among the common metals in 2018 and is forecasted to fall into deficit supply Q3 2019 through to 2022, according to data from the CPM Group.

With increased industrial activity in China and an expansion of the energy sector, all leading indicators suggest there is going to be a resurgence in Canadian Moly production.

Globally, Canada ranks eighth in Molybdenum production with the latest data from 2017 showing production of 3,000 metric tons, an increase of 10% YOY.

Molybdenum prices have risen over 62% in the past year, reaching a 52 week high of 12.46 USD/lb in April 2019.

Max Mine and Mill Project

The Max property covers more than 5,200 hectares near the community of Trout Lake in southeastern British Columbia and includes the Max mill as well as the underground workings of the Max molybdenum project. The Max molybdenum project was explored by Newmont Exploration Canada Inc. in the late 1970s and early 1980s, including development of an underground access adit, rock dump and roads. FortyTwo reportedly began mine development work and commercial production in 2008. The mine production was suspended in September, 2010, due to an underground pillar collapse and was put into care and maintenance in late 2011 due to continued low molybdenum prices.

The Max molybdenum project mill is the suggested site for processing the gold-copper-silver-mineralized material from the Willa deposit, as described in the Willa preliminary economic assessment technical report. The Max mill is located 142 kilometres from the Willa deposit by road. Ash et al. (2016) noted that, as of late 2015, the Max mill had BCMEM permits in good standing, but they might need amending and/or extending if material is going to be shipped from the Willa property and if new tailings are to be produced.

MAX Mine and Mill Map

Project Development Plans

Cameo Industries is going to be undertaking strategic corporate initiatives to move the project to production. The company has engaged accomplished mining experts to undertake an extensive review and analysis of the Max Mine and Mill.

  • Exhaustive inventory and asset review
  • 2019 replacement cost report
  • Review of modern economics in relation to past production
  • Analysis of strategic financing sources

Re-launching the Max Mine and Mill will be major growth catalyst for Cameo Industries and will provide significant shareholder value.

Acquisition Overview

On March 6, 2019 the company completed the acquisition of the Max Mine and Mill for combination of $203,982 in cash considerations, 5 million common shares and a grant of 50% net profit interest. The net profit grant is active only after Cameo Industries has recouped its capital investment and pre-production cost.

The project was first explored by Newmont Exploration Canada Inc. in the late 1970s and early 1980s, including development of an underground access adit, rock dump and roads. The Max Mine and Mill was in full operation from 2005 until 2011. In it's latest year of operation the mine produced close to 400,000 pounds of molybdenum. Mine production was suspended due to an underground pillar collapse in 2010 and the mine was put into care and maintenance due to depressed mineral prices.


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