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Press release from Business Wire

The Law Firm of Levi & Korsinsky Notifies Investors with Losses on Their Investment in Molycorp, Inc. of Class Action Lawsuit and the Deadline of April 3, 2012 to Seek a Lead Plaintiff Position

Monday, February 06, 2012

The Law Firm of Levi & Korsinsky Notifies Investors with Losses on Their Investment in Molycorp, Inc. of Class Action Lawsuit and the Deadline of April 3, 2012 to Seek a Lead Plaintiff Position13:00 EST Monday, February 06, 2012 NEW YORK (Business Wire) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the District of Colorado on behalf of investors who purchased Molycorp, Inc. (“Molycorp” or the “Company”) (NYSE: MCP) stock between March 9, 2011 and November 10, 2011 (the “Class Period”). For more information, click here: http://zlk.9nl.com/molycorp-mcp. There is no cost or obligation to you. The Complaint alleges that defendants misrepresented and/or failed to disclose materially adverse facts about the Company's “Mountain Pass” mining operations. Specifically, defendants misrepresented and/or failed to disclose the following adverse facts during the Class Period: (a) Molycorp's development and expansion of the Mountain Pass mine was not progressing on schedule and would not allow the Company to reach rare earth oxide production rates at the end of calendar 2012 and 2013; and (b) end users had been reducing demand for the Company's products as prices for rare earth elements increased. As a result of the aforementioned Molycorp stock traded at artificially inflated prices throughout the Class Period. On November 10, 2011, the Company reported disappointing third quarter 2011 revenues and earnings results below analysts' estimates and announced a reduction in Mountain Pass production guidance for the fourth quarter of 2011. The Company's stock price fell, dropping from $38.70 per share on November 10, 2011 to $33.45 per share on November 11, 2011, or 13.6%, on heavy trading volume. If you suffered a loss in Molycorp you have until April 3, 2012to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (877) 363-5972, or visit http://www.zlk.com/molycorp-mcp.html. Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT:Levi & Korsinsky, LLPJoseph Levi, Esq.Eduard Korsinsky, Esq.30 Broad Street - 15th FloorNew York, NY 10004Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171www.zlk.com Levi & Korsinsky, LLPJoseph E. Levi, Esq.(877) 363-5972jlevi@zlk.comhttp://www.zlk.com/molycorp-mcp.html