08:46:55 EDT Tue 23 Apr 2024
Enter Symbol
or Name
USA
CA



Thompson Creek Metals Company Inc
Symbol TCM
Shares Issued 222,782,042
Close 2016-09-28 C$ 0.72
Market Cap C$ 160,403,070
Recent Sedar Documents

Post says Thompson Creek holders ponder Centerra offer

2016-09-29 09:35 ET - In the News

Also In the News (C-CG) Centerra Gold Inc

The Financial Post reports in its Thursday edition that in three weeks, Thompson Creek Metals shareholders will give their opinion on Centerra Gold's takeover. The Post's Barry Critchley, writing in Off the Record, says that Centerra raised $195-million via an offering of $7.35 instalment receipts, the proceeds of which will be used to help repay two maturing TCM debt issues. TCM's debt holders will be made whole in the transaction, which was announced in July and will wrap next month, but TCM's equity holders may not be so lucky. They will end up with a minority share of Centerra, whose main asset is the Kumtor mine in Kyrgyzstan. A review of Centerra's latest MD&A indicates that things are far from perfect. In all, five pages of that 44-page document released in late July were devoted to matters in the Asian republic. Readers learn about a notice of arbitration involving environmental claims; how the gold mine is under an interim order not to pay dividends and of how the mine is not allowed to pay any cash to Centerra; and about plans "seeking to unwind" a $200-million (U.S.) intercorporate dividend paid to Centerra in late 2013. In addition, some mine staff and managers are not allowed to leave the country.

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