Thompson Creek was $14-15 in 2011. Since then it has dropped to one fifth its price. What is the reason? Watched this stock recommended as a great buy even at $7. Some people went as far as to put majority of their assets in this stock. What really happened?
At some point, you have to admit this stock is a great buy. Now is that time. If the company is not going BK, and TC is not, then there's a turn around story on the near horizon. Just because everyone lost their a$# over the last 2 years, has nothing to do with the current outlook and performance - especially since the entire portfolio of the company will change for the very first time - with the introduction of a major gold and copper asset.
People lose a ton of money on just about any stock and other people come in later and make huge gains.
So, everyone needs to put the past behind them, quit shorting a stock they have no business shorting, and try and make real money the traditional way. BUY BUY BUY. Quit the emotional negative mindset and quit putting good money after bad !!!!
Initially it was because of the announcement of needing more money to finance the completion of Mount Mulligan.. as a gold mine. And then another addition of financing found in the summer by the same company Royal Gold. Add those items and over the summer trouble was announced at their Endarko mine. What really has changed since then is not priced into the stock .. they announced that there is a lot more copper than perviously thought at the MM mine. There is no payoff on the copper, so the copper in a sense will be all profit in addition to the profitable portion of the gold. After today's conference call (Nov 9th), we can expect MM mine completion and production commencing Late 3rd to beginning 4th quarter 2013. The MM mine alone should more than increase their profit 5X over.