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Thompson Creek Metals Company Inc. Message Board

  • straightdope13 straightdope13 Jul 2, 2013 6:25 PM Flag

    Moly price continue to drop....

    Another headwind for TC. Assume Idaho mine will go into care and maintenance after current mining section is complete. Hopefully milling efficiency is improving at Endako. Milligan MUST startup smoothly.

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    • I'm fairly confident moly prices are at least 2 years away from any significant rebound. Idaho mine will be shut down. Ore is in the same bucket.

      • 1 Reply to foogie88
      • Idaho mine may be placed on care and maintenance for 1-2 yrs, beginning at the end of 2014, but the issues facing it are not insurmountable. It is a function of cash, time, and mgmt effort spent obtaining an EIS for mine plan associated with Phase 8.

        They also are building stockpile there in fairly healthy quantities, so as to mitigate disruption during any shutdown period.

        The mine produces concentrate that goes into 30 million lbs. of moly annually, and it's removal from the market will effect price in the North American market, at a minimum.

        The wildcard is Bingham Canyon's Kmoly division. They are in the finishing phase of commissioning their new moly autoclave, and this was to take their overall moly production at Bingham Canyon up to 30-50mm lbs, beginning this year. Their pit slide problem will set these plans back a year or two, however. We really don't want Kmoly filling the void left in the wake of a TC mine shutdown, so hopefully moly demand continues to grow with worldwide economic growth, in general, allowing both outfits to benefit.

        Sentiment: Strong Buy

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