Bewertungsthread Thompson Creek Metals (alte Blue Pearl Mining) ( Seite 147)

Thompson Creek announces first-quarter 2009 financial results

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NYSE: TC
TSX: TCM, TCM.WT
Frankfurt: A6R


TORONTO, May 7 /PRNewswire-FirstCall/ -


Overview (all in U.S. dollars):
- Molybdenum production in the first quarter of 2009 was 6.1 million
pounds, up from 5.6 million pounds in the same period a year earlier.
The first-quarter production level was in line with current
production plans for the year.
- Weighted-average cash costs were reduced to $5.93 per pound produced
in the first quarter from $8.29 per pound a year earlier.
- 2009 guidance for cash costs has been revised to $6.25 to $7.25 per
pound from previous guidance of $7.25 to $8.25 per pound. Production
and sales guidance remains unchanged at 20 to 24 million pounds for
the year.
- Operating cash flows were $44.7 million in the first quarter,
compared with $63.4 million a year earlier.
- Total debt was reduced to $16.9 million on March 31, 2009 from
$17.3 million on December 31, 2008. Total cash, cash equivalents and
short-term investments at March 31, 2009 were $260.6 million,
compared with $258 million on December 31, 2008.
- First-quarter net income was $11.2 million or $0.09 per basic and
diluted common share, compared with $46.8 million or $0.41 per basic
and $0.37 per diluted common share in the first quarter of 2008.
- The decline in net income was due primarily to a 69% reduction in the
average realized price on molybdenum and upgraded product sales to
$10.14 per pound in the first quarter from $32.69 per pound a year
earlier, which resulted in a year-over-year decrease in revenues to
$78.9 million from $254.8 million.

Note: A conference call and webcast for analysts and investors is
scheduled for Friday, May 8, 2009 at 8:30 a.m. Eastern.


Thompson Creek Metals Company Inc. ("the Company"), one of the world's largest publicly traded, pure molybdenum producers, today announced financial results for the three months ended March 31, 2009 prepared in accordance with Canadian generally accepted accounting principles. All dollar amounts are in U.S. dollars unless otherwise indicated.

"Thompson Creek's mine production during the first quarter of 2009 was consistent with our current plans to produce 20 to 24 million pounds of molybdenum in 2009," said Kevin Loughrey, Chairman and Chief Executive Officer.

"However, the reduction in molybdenum production costs exceeded expectations and as a result we have lowered our 2009 estimated range for cash production costs to $6.25 to $7.25 per pound from previous guidance of $7.25 to $8.25 per pound.

"While overall the molybdenum market continues to experience weaker conditions than it did for most of last year, we are encouraged by the upturn in price in the past two weeks and we continue to expect a sustained recovery in molybdenum demand and prices in the medium-term future as the world economy recovers from recession," Mr. Loughrey stated.

"Given our strong cash position and recent actions to reduce production and conserve cash, Thompson Creek is well positioned not only to weather additional market weakness should it occur but also to raise production again relatively quickly when demand recovers and to consider possible acquisitions that will benefit shareholders."


First-Quarter Financial Results


The Company's revenues declined by 69% to $78.9 million in the first quarter of 2009 from $254.8 million a year earlier primarily due to a 69% decline in the average realized price for molybdenum and upgraded products to $10.14 per pound from $32.69 per pound. Sales volume was slightly lower at 7.5 million pounds in the latest quarter versus 7.7 million pounds a year earlier.

After the deduction of operating, selling, marketing, depreciation, depletion and accretion costs, the Company generated income from mining and processing operations totaling $12 million the first quarter, down from $77.3 million a year earlier.

Net income was $11.2 million or $0.09 per basic and diluted common share, compared with $46.8 million or $0.41 per basic and $0.37 per diluted share in the first quarter of 2008.

The per-share figures are based on a weighted-average number of shares outstanding of 122.3 million (basic and diluted) in the first quarter of 2009, compared with 113.5 million (basic) and 127.7 million (diluted) in the first quarter of 2008. At May 6, 2009, there were 122.5 million common shares, 24.5 million warrants and 8.5 million employee options outstanding.

First-quarter cash flow from operating activities was $44.7 million, compared with $63.4 million a year earlier.

Capital expenditures totaled $18.7 million in the first quarter of 2009, comprised of $14.9 million of sustaining capital expenditures and $3.8 million for the Company's 75% share of capital expenditures for the Endako mill expansion.

Cash, cash equivalents and short-term investments were $260.6 million at March 31, 2009, compared with $258 million at December 31, 2008.

The Company's total debt (primarily equipment loans) on March 31, 2009 was $16.9 million, down from $17.3 million on December 31, 2008.


Selected Consolidated Operations Information


(Unaudited)
Three months ended
March 31,
---------------------------
2009 2008
------------- -------------
Operations

Molybdenum production from mines (000's lb)(1) 6,057 5,589

Cash cost ($/lb produced)(2) $ 5.93 $ 8.29

Molybdenum sold (000's lb) from:
Thompson Creek Mine and Endako Mine
production 6,549 4,082

Product purchased, processed and resold 898 3,572
------------- -------------

7,447 7,654
------------- -------------

Average realized price ($/lb) $ 10.14 $ 32.69

(1) Mined production pounds are molybdenum oxide and high performance
molybdenum disulfide ("HPM") from the Corporation's share of the
production from the mines; excludes molybdenum processed from
purchased product.

(2) Weighted-average of Thompson Creek Mine and Endako Mine cash costs
(mining, milling, roasting and packaging) for molybdenum oxide and
HPM produced in the period, including all stripping costs. Cash cost
excludes: the effect of purchase price adjustments, the effects of
changes in inventory, and depreciation, depletion, amortization and
accretion. The cash cost for Thompson Creek, which only produces
sulfide on site, includes an estimated molybdenum loss and an
allocation of roasting and packaging costs from the Langeloth
facility.


The Company's mines produced 6.1 million pounds of molybdenum in the first quarter, up from 5.6 million pounds in the first quarter of 2008. The Thompson Creek Mine produced 4.4 million pounds, up from 3.6 million pounds a year earlier, while the Company's 75% share of the Endako Mine's production was 1.7 million, compared with 2 million pounds a year earlier.

The weighted-average cash costs were $5.93 per pound produced in the first quarter of 2009, compared with $8.29 per pound produced a year earlier. The decline was primarily due to increased production as a result of higher ore grades and recoveries at the Thompson Creek Mine together with lower mining and milling costs from both of the Company's mines in the latest quarter compared to the 2008 quarter. The cash costs include production costs for the mining, milling, roasting and packaging of molybdenum oxide and high-performance molybdenum disulfide (HPM) and deferred stripping costs (mining costs related to future planned production phases).

At the Thompson Creek Mine, cash costs in the first quarter were $5.83 per pound produced (including deferred stripping costs of $1.67 per pound produced), compared with $8.76 per pound produced (including deferred stripping costs of $0.77 per pound produced) a year earlier. The Endako Mine's cash costs were $6.17 per pound produced, compared with $7.41 per pound produced a year earlier. There were no deferred stripping costs at Endako.


Outlook


Molybdenum prices declined gradually during the first quarter of 2009, falling in 11 of the first 13 weeks of the year. The monthly Platts Metals Week published molybdenum oxide price averaged $8.94 per pound during the quarter. For the month of April 2009, this published price declined further to an average $7.90 per pound. The published Platts Metals Week price on April 30, 2009 was a range of $8.30 to $8.80 per pound.

Based on market trends experienced in the January to April period, the Company expects its average realized price to be lower in the second quarter than in the first quarter of 2009. Additionally, the Company's sales volumes are expected to be less during the 2009 second quarter as the Company continues its efforts to match production with the anticipated level of sales.

For 2009, previous guidance for molybdenum production levels of 20 to 24 million pounds remains unchanged. Expected production from the Thompson Creek Mine is 15 to 17 million pounds (unchanged from previous guidance), and the Company's 75% share of Endako Mine's expected production is 5 to 7 million pounds (unchanged from previous guidance).

Given the lower cash cost per pound produced for the 2009 first quarter, the anticipated average cash cost per pound produced in 2009 has been revised to an estimated $6.25 to $7.25 per pound (compared to previous guidance of $7.25 to $8.25 per pound), with the Thompson Creek Mine expected to be approximately $6.00 to $7.00 per pound (compared to previous guidance of $7.00 to $8.00 per pound) and the Endako Mine at an estimated cash cost of $7.00 to $8.00 per pound (compared to previous guidance of $8.00 to $9.00 per pound). This assumes a US$/Cdn$ exchange rate of 1.20 for the last nine months of 2009.

The revised 2009 Thompson Creek Mine cash cost per pound produced includes approximately $30 million of stripping costs, amounting to $1.75 to $2.00 per pound produced (compared to previous guidance of $40 million of stripping costs or $2.30 to $2.60 per pound produced) related to future planned production phases. The 2009 Endako Mine operating plan has minimal stripping costs.

The decline in the expected cash cost per pound produced was primarily due to the result of favorable foreign exchange rates in the first quarter of 2009 (converting Cdn$ costs to US$ costs) and lower mining and milling costs, including lower grinding media, consumables and electrical power costs together with lower equipment maintenance costs.

For 2009, the Company's share of estimated sustaining capital expenditures at both mines and the Langeloth Metallurgical Facility is expected to be $38 million and its 75% share of the estimated Endako mill expansion capital expenditures is expected to be $22 million.

Due to the slowing demand for molybdenum and sharp decline in molybdenum prices in the 2008 fourth quarter, the Endako mill expansion project was postponed until economic conditions improve. Through March 31, 2009, the Company's 75% share of Endako expansion capital expenditures was $47.1 million. The Company's remaining commitment for capital spending on this project while it is postponed is $18.2 million in the last nine months of 2009 and $18 million in 2010.

The Company's 2009 sales of molybdenum produced from its own mines are expected to be 20 to 24 million pounds, with additional sales of molybdenum purchased, processed and resold in 2009 expected to be 3 to 4 million pounds.

The Company believes the long-term outlook for its business is positive. The Company is positioned to react quickly to further changes in the molybdenum market in order to ensure that working capital levels are maintained. Operating cash flows will be impacted by approximately $20 to $24 million for every $1.00 per pound change in the molybdenum price.

Additional information on the Company's financial position is available in Thompson Creek's Financial Statements and Management's Discussion and Analysis for the period ended March 31, 2009, which will be filed with SEDAR (www.sedar.com) and posted on the Company's website (www.thompsoncreekmetals.com).


Conference call and webcast


Thompson Creek will hold a conference call for analysts and investors to discuss its first-quarter 2009 financial results on Friday, May 8, 2009 at 8:30 a.m. (Eastern). Kevin Loughrey, Chairman and Chief Executive Officer, and Pamela Saxton, Chief Financial Officer, will be available to answer questions during the call.

To participate in the call, please dial 416-644-3421 or 1-800-595-8550 about five minutes prior to the start of the call. A live audio webcast of the conference call will be available at www.newswire.ca and www.thompsoncreekmetals.com.

An archived recording of the call will be available at 416-640-1917 or 1-877-289-8525 (Passcode 21303485 followed by the number sign) from 10:30 a.m. on May 8 to 11:59 p.m. on May 15. An archived recording of the webcast will also be available at Thompson Creek's website.


About Thompson Creek Metals Company Inc.


Thompson Creek Metals Company Inc. is one of the largest publicly traded, pure molybdenum producers in the world. The Company owns the Thompson Creek open-pit molybdenum mine and mill in Idaho, a metallurgical roasting facility in Langeloth, Pennsylvania and a 75% share of the Endako open-pit mine, mill and roasting facility in northern British Columbia. Thompson Creek has two high-grade underground molybdenum deposits, the Davidson Deposit near Smithers, B.C., and the Mount Emmons Deposit near Crested Butte, Colorado. The Company is continuing to pursue permitting of the Davidson Project and is evaluating the Mount Emmons Deposit. The Company has approximately 750 employees. Its principal executive office is in Denver, Colorado, and it has other executive offices in Toronto, Ontario and Vancouver, British Columbia. More information is available at www.thompsoncreekmetals.com.

Fri Jun 5, 2009
Thompson Creek Announces Resignation Of Chief Operating Officer

Thompson Creek Metals Company Inc. ("the Company"), one of the world's largest publicly traded, pure molybdenum producers, today announced that in conjunction with the closing of the Company's Vancouver office, Ken Collison, Chief Operating Officer, has chosen not to relocate to Denver and will be resigning from his position with the Company later this year following the appointment of a successor.

"I would like to express my appreciation to Ken for his contributions to the operation of Thompson Creek Metals Company and for his continuing assistance as we look for his successor," said Kevin Loughrey, Chairman and Chief Executive Officer. "Ken has agreed to continue with the Company for a transition period after a new Chief Operating Officer is appointed and he may subsequently stay on longer in a consulting role to help with certain projects."


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Thompson Creek: A Molybdenum Stock to Strengthen Your Portfolio

Quelle: http://seekingalpha.com/article/141793-thompson-creek-a-moly…

Schöne Sonntagslektüre

Mon Jun 8, 2009
Thompson Creek Announces Changes To 2009 Operating Plans

Thompson Creek Metals Company Inc. ("Company"), one of the world's largest publicly traded, pure molybdenum producers, today announced changes to its 2009 estimates for molybdenum sales, molybdenum production and cash production costs.

"In response to the recent improvements in the molybdenum market, the Company is making operational adjustments at its mines that will result in molybdenum production and sales in 2009 being approximately 10% higher than previously announced estimates," said Kevin Loughrey, Chairman and Chief Executive Officer.

"These operational adjustments include the shortening of the planned shutdown period this summer to two weeks from one month for the milling operations at the Thompson Creek and Endako mines.

"We will continue for the time being with the other main production adjustment we announced in February 2009, namely the reduction in the Thompson Creek mill operation to 70% of capacity (a 10 days on, four days off schedule). However, we will be monitoring market conditions and we intend to remain flexible and ready to adjust our production again in the future."

The Company now expects production and sales of molybdenum from its own mines will be in a range of 22 to 26 million pounds in 2009, up from previous guidance of 20 to 24 million pounds.

Molybdenum production at the Thompson Creek Mine is expected to be 16 to 18 million pounds (compared to previous guidance of 15 to 17 million pounds) and the Company's 75% share of production at the Endako Mine is now estimated at 6 to 8 million pounds (compared to previous guidance of 5 to 7 million pounds).

The Company's 2009 cash production costs are currently estimated in the range of $5.75 to $7.00 per pound of molybdenum produced, down from a previously estimated range of $6.25 to $7.25 per pound, with costs at the Thompson Creek Mine expected to be approximately $5.50 to $6.50 per pound (compared to previous guidance of $6.00 to $7.00 per pound) and costs at the Endako Mine expected to be approximately $6.50 to $7.50 per pound (compared to previous guidance of $7.00 to $8.00 per pound). This assumes a US$/Cdn$ exchange rate of 1.15 (compared to previous guidance of 1.20).

The revised 2009 Thompson Creek Mine cash production costs include approximately $30 million of stripping costs related to future planned production phases, amounting to $1.65 to $1.90 per pound produced (compared to previous guidance of $1.75 to $2.00 per pound produced). The 2009 Endako Mine operating plan has minimal stripping costs. All costs estimates are in U.S. dollars.

Mr. Loughrey is scheduled to make a presentation at 11 a.m. Eastern on Tuesday, June 9, 2009, to investors attending RBC Capital Markets' 2009 Global Mining and Materials Conference in Toronto. A webcast of the presentation will be available at www.thompsoncreekmetals.com and also at http://www.wsw.com/webcast/rbc109/tcm.to/.


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Tue Jun 23, 2009
Thompson Creek Announces Completion Of Stock Option Cancellation Program

Thompson Creek Metals Company Inc. ("Company"), one of the world's largest publicly traded, pure molybdenum producers, today announced that it has completed a voluntary stock option cancellation program offered to all holders of stock options with an exercise price of C$16.19 per share and above.

Under the terms of the program, options to acquire an aggregate of 2,414,500 million common shares were voluntarily surrendered for cancellation by 55 holders effective June 22, 2009.

The Company's existing stock option plan currently allows for a maximum of approximately 8.6 million outstanding options. Following this cancellation, there are a total of 6,055,166 options outstanding with exercise prices ranging from C$0.60 to C$23.93.

The cancellation of options provides the Company with the flexibility to issue stock options in the future. The Company regards the flexibility to issue new options as an important element in attracting and retaining highly qualified employees and directors.

A non-cash compensation charge of approximately US$2.8 million will be recorded in the quarter ending June 30, 2009, representing the remaining unamortized, stock-based compensation cost for the cancelled options as of June 22, 2009. As a result, the current quarterly charge related to these options will be eliminated, representing approximately US$0.9 million for the quarter ending September 30, 2009, and US$0.8 million, $0.7 million, $0.3 million, and $0.1 million for the subsequent four quarters, respectively.
...
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Thu Aug 6, 2009
Q2 2009 Management's Discussion and Analysis
File: http://www.thompsoncreekmetals.com/i/pdf/2009_Q2_MDA.pdf
119 KB, approx. 23 seconds at 56.6Kbps

http://www.thompsoncreekmetals.com/s/FinancialsAndReports.as…

Thu Aug 6, 2009
Q2 2009 Financial Statements
File: http://www.thompsoncreekmetals.com/i/pdf/2009_Q2_FS.pdf
100 KB, approx. 20 seconds at 56.6Kbps

http://www.thompsoncreekmetals.com/s/FinancialsAndReports.as…

Thu Aug 6, 2009
Thompson Creek Announces Second-Quarter 2009 Financial Results And Resumption Of Endako Expansion Project

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Overview (all in U.S. dollars):

- Molybdenum production rose by 9.8% to 6.7 million pounds in the second quarter of 2009 from 6.1 million pounds in the first quarter.
- Weighted-average cash costs in the second quarter were reduced by 12.1% to $5.21 per pound produced from $5.93 per pound in the first quarter.
- 2009 guidance remains unchanged for molybdenum production and sales at 22 to 26 million pounds and for cash costs at $5.75 to $7.00 per pound.
- Total cash, cash equivalents and short-term investments at June 30, 2009 were $262 million, compared with $260.6 million on March 31, 2009. Total debt was reduced to $15.6 million on June 30, 2009 from $16.9 million on March 31, 2009.
- Average realized price on molybdenum and upgraded product sales declined to $9.41 per pound in the second quarter from $10.14 per pound in the first quarter, although due to recent developments in the molybdenum market, the Company expects its average realized price to be higher in the second half of 2009.
- Income from mining and processing operations rose to $15.3 million in the second quarter from $12 million in the first quarter. However, due primarily to a foreign exchange loss, the Company recorded a net loss in the second quarter of $0.4 million or $0.00 per basic and diluted common share, compared with net income of $11.2 million or $0.09 per basic and diluted share in the first quarter of 2009.
- The Board of Directors has approved the resumption of the Endako mill expansion project. As a result, the Company's estimate of 2009 total capital expenditures has been revised upward to $80 million from previous guidance of $60 million.

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