Winnepeg Free Press reported that an increased reserve estimate by Thompson Creek Metals Company (TSE:TCM) will extend the life of its British Columbia molybdenum mine.
Articles Tagged "TSE:TCM"
Winnipeg Free Press reported that profits for Thompson Creek (TSE:TCM) were down despite higher revenues for the company in Q2 2011.
Ken MacDonald Vice President of Business Strategy and CFO Erdene Resource Development discussed the factors controlling the current molybdenum market.
Thompson Creek Metals Company Inc. (NYSE:TC,TSE:TCM) announced the date and time for its first quarter 2011 financial results conference call.
The Continental Divide region is arguably the world’s most important moly producing deposits. At full production, these deposits could have a serious impact on world molybdenum supply.
Many molybdenum firms benefited from higher prices for moly in 2010 as well as massive investments from moly hungry China. Backed by growing steel demand from the urbanization of China, moly prices rose from the abysmal $8 lows in 2008 up to $18 per pound in April 2010, prices have since settled to around $16 per pound.
Bloomberg.com reports that Thompson Creek Metals rose the most in 17 months after report China to curb molybdenum production.
As the use of molybdenum becomes diversified because of its use in solar panels, the price correlation between Silver and Moly is closing. The diversification of the uses for moly is beneficial as the price is not dependent solely on steel consumption.
Thompson Creek Metals and General Moly released first quarter results. While the price of molybdenum has been steadily increasing the two companies have posted a loss for the quarter. However, long term outlook for the two remain strong based on increased production and rising prices. They may be a bargain for investors looking to capitalize on long term molybdenum forecasts.
One of the world's largest publicly traded, pure molybdenum producers, Thompson Creek TSE: TCM, today announced changes to its 2009 estimates for molybdenum sales, molybdenum production and cash production costs.