Last time Resource Investing News checked in with Molycorp (NYSE:MCP), its share price was up an impressive 77 percent. The company had just signed a 10-year rare earths supply deal with Siemens (FRA:SIE), and investors had reacted well to the news. Unfortunately, Thursday was a markedly different story for the US-based company, whose share price was down 12.49 percent, at $0.586, by the end of the day. The drop was spurred by the release of its financial and operating results for the first quarter of 2015. Though the report includes some positive results — Molycorp's rare earths facility in Mountain Pass, California produced 1,479 metric tons (MT) of rare earth oxide during the quarter, up 11 percent from Q4 2014, while product sales rose 9 percent over 2014′s fourth quarter — they weren't enough to offset a slew of negative numbers. For instance, the company incurred a net loss of $102 million, or $0.42 per share, for Q1. While its net loss on an adjusted non-GAAP basis was lower, at $0.28 per share, that amount "does not reflect charges for impairment of inventory at Mountain Pass, out-of-ordinary business expenses, and certain other non-cash items." Molycorp also reported a fairly substantial decline in average selling price during 2015′s first quarter — it came in at $30.97 per kilogram, down 16 percent from $36.91 in the fourth quarter of 2014. With sales of 3,436 MT of product in Q1 2015, the company recorded a gross loss of $25 million. Meanwhile, Molycorp said it was hit by negative cash flows from operating activities of $73 million during Q1, with cash and cash equivalents sitting at $134 million at the end of the period. Capital expenditures for the quarter came to $6 million on a cash basis.