Topic: How To Invest

Hi Pat: Just wondering what your opinion is on Thompson Creek.

Article Excerpt

Thompson Creek Metals Co. Inc., $2.67, symbol TCM on Toronto (Shares outstanding: 168.1 million; Market cap: $448.8 million, www.thompsoncreekmetals.com), is a molybdenum producer with mining, milling, roasting and marketing operations in Canada and the U.S. The company’s operations include the Thompson Creek mine in Idaho, a roasting facility in Langeloth, Pennsylvania, and 75% of the Endako mine and roaster in B.C. Molybdenum is either mined directly or recovered as a by-product of copper mining. The metal strengthens and prevents rust in alloys and high-temperature steels. In October 2010, Thompson Creek completed its friendly takeover of Terrane Metals Corp., which owns the Mount Milligan copper/gold project in central B.C. Mount Milligan’s reserves should support a mine that will produce 81 million pounds of copper and 200,000 ounces of gold annually over its 22-year life. Start-up is forecast for 2013. Thompson Creek paid $693.4 million for Terrane, including $420 million in cash and 24.3 million common shares. Goldcorp (symbol G on Toronto) owned 52.4% of Terrane…