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Enter Symbol
or Name
USA
CA



Thompson Creek Metals Company Inc
Symbol TCM
Shares Issued 171,518,813
Close 2014-04-09 C$ 2.67
Market Cap C$ 457,955,231
Recent Sedar Documents

Thompson produces 14.2 mmlb Cu at Mount Milligan in Q1

2014-04-09 18:32 ET - News Release

Ms. Pamela Solly reports

THOMPSON CREEK METALS COMPANY ANNOUNCES FIRST QUARTER 2014 OPERATING RESULTS AND PROVIDES UPDATE ON OPERATIONS

Thompson Creek Metals Company Inc. has released production results for the three months ended March 31, 2014, for its three operating mines: Mount Milligan, Thompson Creek and Endako. Total concentrate production for Mount Milligan for the quarter ended March 31, 2014, was 22,200 dry metric tonnes, which contained 14.2 million pounds of payable copper and 39,200 ounces of payable gold. Molybdenum production for the first quarter of 2014 was 7.9 million pounds.

                         PRODUCTION AND SALES RESULTS   
 
                                                Q1 2014            Q4 2013
                                        Production   Sales Production   Sales
Copper and gold
Mount Milligan mine
Payable copper (million lb)                   14.2    10.8       10.4     2.8
Payable gold (000s oz)                        39.2    23.9       20.4     5.5
Molybdenum (1)
Thompson Creek mine
Molybdenum (million lb)                        5.7     5.9        4.8     6.7
Endako mine (75% share)
Molybdenum (million lb)                        2.2     2.7        2.4     2.5
Total molybdenum (million lb)                  7.9     8.6        7.2     9.2

(1) Molybdenum production pounds reflected are molybdenum oxide and HPM from
the company's mines.

Operations update

Mount Milligan mine

The company began the commissioning and start-up phase of Mount Milligan in the fourth quarter of 2013, and Mount Milligan mine reached commercial production, defined as operation of the mill at 60-per-cent design capacity mill throughput for 30 days, as of Feb. 18, 2014. The ramp-up at Mount Milligan continues to progress with mine pit grades as expected, metal recoveries in the mill currently above expectations and mill throughput steadily improving. The company continues to expect that mill throughput will achieve 75 per cent to 85 per cent of design capacity by the end of 2014. During the first quarter of 2014, the company made three shipments of copper and gold concentrate under its sales agreements and received provisional payments for two of those shipments. The timing of the gold and copper concentrate shipments and related provisional payments from Mount Milligan are based on the structure of the company's sales agreements.

Thompson Creek mine

At Thompson Creek mine, molybdenum production for the first quarter of 2014 was better than expected primarily due to higher ore grades and mill recoveries. Typical spring runoff water conditions in late March, which are expected to continue during the second quarter, have impacted mining at the bottom of the pit, where ore grades are higher. Continued efforts to trench water away from the active dig faces have allowed mining at the bottom of the pit to continue, and stockpiled ore has been used to supplement feed to the mill.

Endako mine

At Endako mine, molybdenum production for the first quarter of 2014 was lower than expected. Although the mill is optimized to achieve design mill recoveries and better than designed mill throughputs, operational challenges in maintaining a consistent feed from the mine to the mill, tailings operational issues and lower than expected ore grades during the first quarter adversely impacted production results.

We seek Safe Harbor.

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