After Thursday’s market close, Thompson Creek Metals, the molybdenum producer, declared a net loss for the fourth quarter, resulting from a partial write-down of goodwill assets and other special non-cash charges. For full story, click here
Thompson Creek Metals Company Inc., one of the world’s largest publicly traded, pure molybdenum producers, has scheduled a conference call for analysts and investors to discuss its 2008 financial results on Friday, March 20, 2009 at 8:30 a.m. (Eastern). For full story, click here
Thompson Creek Metals Co., the operator of molybdenum mines in North America, said it would like to make an all-stock acquisition to increase output and the company is in no hurry because asset prices may continue to decline. For more information, click here
When economic growth resumes, there will be a critical shortage of strategic metals. The rapid collapse in metal’s prices has forced many miners to mothball operations; when demand for these metals resumes, there will be a lag time for production online. This means that as quickly as prices collapsed, we can expect an upswing with more impetus.
Thompson Creek Metals Co Inc reported that it is reducing mill capacity by 30 percent and will temporarily idle two mines this year due to poor market conditions. For full story, click here
Thompson Creek announced huge cut in its 2009 production forecast Tuesday of as much as 41%. The company plans to produce 20 to 24 million pounds of Molybdenum, down from the prior guidance of 31.5 to 34 million pounds. Chief executive Kevin Loughrey said: This is a unique time, because we’re not getting a confident [...]
After moly held its position over months of poor market sentiment, the metal has been hit hard. Just over a few weeks, the market price of molybdenum oxide has fallen by a whopping 30%.
The future of Molybdenum demand gained some extra security with the likelihood of new applications in the short term. Even as other metal prices eased off in recent weeks and months, molybdenum has held its highs, in part because of its wide gamut of uses.
Adanac Molybdenum Corp. reported that it has awarded the fabrication of the Ruby Creek Project to Supreme Steel Ltd. of Edmonton, at a total cost of approximately $26 million. For more information, click here
Thompson Creek’s molybdenum production rose 10.7% to 6.2 million pounds in the second quarter from 5.6 million pounds in the first quarter – for a total of 11.8 million pounds in the first half of 2008. For more information, click here
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