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3 years ago
Molycorp loss widens in second quarter, gets financing
August 6, 2014 / 8:30 PM / 3 years ago

Molycorp loss widens in second quarter, gets financing

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Aug 6 (Reuters) - Molycorp Inc on Wednesday reported a bigger net loss in the second quarter as sales volumes fell.

The rare earths producer also said it has secured a commitment for $400 million in financing from Oaktree Capital Management.

Molycorp said its net loss attributable to shareholders widened to $84.0 million, or a diluted loss of 37 cents a share, in the three months to end-June. That compared with a loss of $71.2 million, or 44 cents a share, a year earlier. The company's number of shares in issue increased during the year. (Reporting by Allison Martell; Editing by Leslie Adler)

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