I don't understand the rational behind accusing Wu of stealing. The guy sells moly for $30m cash plus 20m shares of restricted xing shares. Am I wrong? He basically conserved the cash in xing as well as increased his stake in xing. Isn't that a good thing? To have the guy at the top have the most at stake in regards to the company? If xing shares fall, he stands to lose as much as any of us. So in a way he has more at stake in xing than anyone else. Why would he want to hurt the value of xing shares. Second, 110m for reserves of 30,985 ton of
molybdenum metal (this doesn't account for the other 40% of the mine not yet explored). Just the proven reserves are worth around $620m at $10/lb (I think this is the approximate market rate). Second, the price of molybdenum has a lot of upward potential IMO. I think Wu has been strategic in his vision of xing's future. I think this company is well undervalued. In terms of when the market will acknowledge it, I have no idea.