TC TuanChe Ltd

NYSE: TC TSX: TCM, TCM.WT Frankfurt: A6R TORONTO, March 19 /PRNewswire-FirstCall/ -- - Record production of 26 million pounds Mo - Record revenues of $1.01 billion - Record cash flow from operations of $417.6 million - Record earning before special non-cash charges of $276.3 million Overview (all in U.S. dollars): - Mining operations continued to perform well in the fourth quarter of 2008 with total molybdenum production rising 20% to 7.8 million pounds from 6.5 million pounds in the third quarter. Production in all of 2008 was a record 26 million pounds, up 59% from 16.4 million pounds in 2007. - Cash flow generated by operating activities totaled $181.0 million in the fourth quarter, up 64% from $110.3 million in the third quarter. In 2008, cash flow generated by operating activities was a record $417.6 million, up 129% from $182.6 million in 2007. - Debt was reduced during the year to $17.3 million on December 31, 2008 from $237.4 million a year earlier, while cash balances grew to $258 million on December 31, 2008 from $113.7 million a year earlier. Cash balances as of February 28, 2009 totaled $255 million. - Due to the weak global economic conditions and the sharp decline in molybdenum prices, fourth-quarter 2008 earnings were negatively affected by a partial write-down of goodwill assets and other special non-cash charges amounting to $93.1 million, which was equivalent to $0.76 per common and diluted share in the quarter. Fourth-quarter net income before these special non-cash adjustments was $68.5 million or $0.56 per basic and diluted common share. However, the deduction of the special non-cash items resulted in a quarterly net loss of $24.6 million or $0.20 per basic and diluted common share, compared with net income in the 2008 third quarter of $100.6 million or $0.80 per basic and $0.74 per diluted common share. - In 2008, net income before special non-cash charges totaled a record $276.3 million or $2.31 per basic and $2.10 per diluted common share. After deduction of special non-cash charges, 2008 net income was $183.2 million or $1.53 per basic and $1.39 per diluted common share. In 2007, net income was $157.3 million or $1.43 per basic and $1.24 per diluted common share. - Average realized price on molybdenum sales was $21.72 per pound in the fourth quarter, down from $32.85 in the third quarter. For 2008, the average realized price was $30.04, up from $28.77 in 2007. The market price for molybdenum as of March 18, 2009 was in the range of $8.40 to $8.80 per pound. - In response to the decline in molybdenum prices, the Company had previously announced a revision of 2009 operating and capital expenditure plans aimed at conserving cash. The plans were based on expectations that molybdenum sales and production from the Company's own mines will be between 20 and 24 million this year. Capital expenditures were reduced to approximately $60 million in 2009. - As a result of the revised plans, the Company now estimates that its molybdenum production cash costs will range between $7.25 and $8.25 per pound produced in 2009. Cash costs in 2008 averaged $6.01 per pound produced in the fourth quarter and $7.54 per pound produced during the full year. Note: A conference call and webcast for analysts and investors is scheduled for Friday, March 20, 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 and twelve months ended December 31, 2008 prepared in accordance with Canadian generally accepted accounting principles. All dollar amounts are in U.S. dollars unless otherwise indicated. "Thompson Creek achieved strong operating performance in 2008 with total molybdenum production and sales volume exceeding guidance given earlier in the year," said Kevin Loughrey, Chairman and Chief Executive Officer. "Cash flow generated by operating activities rose by 129% to a record $417.6 million in 2008, which contributed to the Company's success in paying off bank debt and building substantial cash balances of $258 million by year-end. "As a result of last year's strong financial performance and our recent actions to conserve cash, Thompson Creek is well positioned to continue operating its mines during the economic downturn and to consider possible acquisitions that will benefit shareholders." For 2009, in order to conserve cash in a period of lower prices and reduced demand for molybdenum, the Company, as previously announced, has reduced planned production to match the expected level of molybdenum sales for the year and has significantly reduced capital expenditures. The Company is planning to produce 20 to 24 million pounds of molybdenum from its own mines this year at an average cash cost ranging between $7.25 and $8.25 per pound. Capital expenditures are expected to be $60 million. "Our molybdenum sales have kept pace with production so far in the first quarter of 2009 and this suggests that we are on the right track operationally at this time, but we intend to remain flexible and ready to adjust our production higher or lower if there are substantial changes in market conditions in the future," Mr. Loughrey stated. "While the short-term market outlook is uncertain and dependent to a large degree on how long our traditional steel customers will continue with inventory destocking and low production, we expect molybdenum demand to improve and prices to strengthen in the medium-term future as the world economy recovers from recession." Fourth-Quarter Financial Results The Company's revenues were $181.6 million in the fourth quarter, compared with $331.1 million in the third quarter of 2008, and $197.8 million in the fourth quarter of 2007. The reduction in revenues from the third quarter of 2008 was due to a decrease in the average realized price to $21.72 per pound from $32.85 per pound and in total sales volume to 8.1 million pounds from 9.9 million pounds. Sales of molybdenum from the Company's own mines were 6.6 million pounds in the fourth quarter, down from 6.9 million pounds in the third quarter, while sales of third-party molybdenum purchased, processed and resold were reduced to 1.6 million pounds in the fourth quarter from 3 million pounds in the third quarter. The year-over-year decline in revenues reflected a decrease in the average realized price, offset to a large degree by generally higher production volumes and sales from the company's mines in 2008 compared with 2007. Total sales in the fourth quarter of 2007 were 6.2 million pounds, comprised of sales from the Company's own mines of 3.2 million pounds and sales of third-party molybdenum of 3.1 million pounds. The average realized sale price for molybdenum products in the fourth quarter of 2007 was $31.08 per pound. After the deduction of operating, selling, marketing, depreciation, depletion and accretion costs, the Company generated income from mining and processing operations totaling $88.5 million the fourth quarter, down from $159 million in the third quarter of 2008 but up from $47.9 million in the fourth quarter of 2007. Net income before special non-cash charges in the fourth quarter of 2008 was $68.5 million or $0.56 per basic and diluted common share. After deduction of special non-cash charges, the Company recorded a net loss in the fourth quarter of 2008 of $24.6 million or $0.20 per basic and diluted common share, compared with net income of $100.6 million or $0.80 per basic and $0.74 per diluted common share in the third quarter of 2008 and $28.8 million or $0.25 per basic and $0.22 per diluted share in the fourth quarter of 2007. Special non-cash charges in the fourth quarter totaled $93.1 million or $0.76 per basic and diluted common share, comprising the write-down of goodwill assets of $68.2 million, a change in tax valuation allowances of $23.1 million (related to the realization of tax assets for alternative minimum tax and stock compensation) and an after-tax valuation allowance against the carrying value of finished goods inventories of $1.8 million. The per-share figures are based on a weighted-average number of shares outstanding of 122.6 million (basic) and 122.7 million (diluted) in the fourth quarter of 2008, compared with 125.0 million (basic) and 136.8 million (diluted) in the third quarter of 2008 and 113.3 million (basic) and 131.0 million (diluted) in the fourth quarter of 2007. At March 19, 2009, there were 122.3 million common shares, 24.5 million warrants and 8.9 million employee options outstanding. Cash flow from operating activities was $181.0 million in the fourth quarter, compared with $110.3 million in the third quarter of 2008 and $45.7 million in the fourth quarter of 2007. Cash balances were $258 million at December 31, 2008, compared with $151.7 million at September 30, 2008 and $113.7 million at December 31, 2007. Cash balances as of February 28, 2009 were $255 million. The Company's total debt on December 31, 2008 was $17.3 million in equipment loans. The Company's mines produced 7.8 million pounds of molybdenum in the fourth quarter, up from 6.5 million pounds in the third quarter of 2008 and 3.4 million pounds in the fourth quarter of 2007. The Thompson Creek Mine produced 4.8 million pounds in the fourth quarter, up from 4.3 million pounds in the third quarter and 2.0 million pounds in the fourth quarter of 2007. The Company's 75% share of the Endako Mine's production was 3.0 million in the fourth quarter, compared with 2.2 million pounds in the third quarter and 1.5 million pounds in the fourth quarter of 2007. The production amounts reflect molybdenum produced at the Thompson Creek and Endako mines but do not include molybdenum purchased from third parties, roasted and sold by the Company. The weighted-average cash costs were $6.01 per pound produced in the fourth quarter of 2008, compared with $7.33 per pound produced in the third quarter of 2008 and $13.58 per pound produced in the fourth quarter of 2007. The decline was primarily due to increased production as a result of higher ore grades, recoveries and throughput at the Company's mines. 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 fourth quarter were $6.30 per pound produced (including deferred stripping costs of $1.64 per pound produced), compared with $7.38 per pound produced (including deferred stripping costs of $1.79 per pound produced) in the third quarter of 2008 and $14.48 per pound produced (including deferred stripping costs of $4.57 per pound produced) in the fourth quarter of 2007. The Endako Mine's cash costs per pound produced were $5.54 per pound produced in the fourth quarter, compared with $7.23 per pound produced in the third quarter of 2008 and $12.39 per pound produced in the fourth quarter of 2007. There were no deferred stripping costs at Endako. 2008 Financial Results Thompson Creek's revenues were a record $1.01 billion in 2008, up 11% from $914.4 million a year earlier. The revenue gain reflected higher molybdenum sales volume and higher average realized sales prices in 2008. Total molybdenum sales rose to 33 million pounds from 31 million pounds. Molybdenum sold from the Company's mines in 2008 increased to 22.3 million pounds from 19.5 million pounds sold in 2007, while sales of third-party molybdenum purchased, processed and resold declined to 10.7 million pounds in 2008 from 11.5 million pounds a year earlier. The average realized sales price was $30.04 per pound in 2008, compared with $28.77 per pound in 2007. After the deduction of operating, selling, marketing, depreciation, depletion and accretion costs, the Company generated income from mining and processing operations totaling $430.2 million in 2008, up 43% from $301.0 million a year earlier. Net income before special non-cash charges in 2008 was $276.3 million or $2.31 per basic and $2.10 per diluted common share. After deduction of $93.1 million in special non-cash charges, the Company recorded net income of $183.2 million or $1.53 per basic and $1.39 per diluted common share in 2008, compared with net income of $157.3 million or $1.43 per basic and $1.24 per diluted common share in 2007. The per-share figures are based on a weighted-average number of shares outstanding of 119.5 million (basic) and 131.7 million (diluted) in 2008 versus 110.2 million (basic) and 126.6 million (diluted) in 2007. Net income and earnings from mining and processing operations in 2007 were negatively affected by the inclusion in operating expenses of a non-cash acquisition expense related to the inventory portion of the purchase price adjustment associated with the Company's purchase of Thompson Creek Metals Company USA in October 2006. This non-cash expense amounted to $29.6 million in the first quarter of 2007. Cash flow from operating activities was $417.6 million in 2008, compared with $182.6 million a year earlier. The increase in cash flow from operations was mainly due to the higher revenues and net income before special non-cash charges, together with working capital adjustments related to the collection of accounts receivable and the drawdown of product inventory. Capital expenditures totaled $114 million in 2008, comprised of $71 million of sustaining capital expenditures at the operating sites and $43 million of capital expenditures for the 75% share of the mill expansion at the Endako Mine. In 2007, capital expenditures were $14.6 million. The Company's mines produced 26 million pounds of molybdenum in 2008, up from 16.4 million pounds a year earlier. The Thompson Creek Mine produced 16.8 million pounds in the latest year, up from 9.3 million pounds in 2007, while the Company's 75% share of Endako Mine's production rose to 9.3 million pounds from 7.1 million pounds a year earlier. The weighted-average cash costs were $7.54 per pound produced in 2008, compared with $10.03 per pound produced in 2007. The decline was primarily due to increased production as a result of higher ore grades, recoveries and throughput at the Company's mines. The cash costs include production costs for the mining, milling, roasting and packaging of molybdenum oxide and HPM and deferred stripping costs (mining costs related to future planned production phases). At the Thompson Creek Mine, cash costs in 2008 were $7.75 per pound produced (including deferred stripping costs of $1.71 per pound produced), compared with $10.91 per pound produced (including deferred stripping costs of $3.69 per pound produced) in 2007. The Endako Mine's cash costs per pound produced were $7.15 per pound produced in 2008, compared with $8.89 per pound produced in the fourth quarter of 2007. There were no deferred stripping costs at Endako. On December 31, 2008, the Company had working capital of $356.3 million, including $258 million of cash balances, $55.0 million of receivables, no borrowings under its $35 million line of credit facility and $5.6 million as the current portion of equipment loans. Outlook Thompson Creek believes the long-term outlook for its business and the molybdenum market is positive. However, in order to conserve cash during the current economic uncertainty, the Company's 2009 plans have been modified to reduce molybdenum production, cost profile and capital expenditures. The Company believes that these actions will ensure that adequate working capital levels are maintained. The Company has reduced its planned level of molybdenum production for 2009 to match its expectations of sales volumes. As previously announced, the Company expects molybdenum production to be in the range of 20 to 24 million pounds this year, down from previous guidance of 31.5 to 34 million pounds. Production at the Thompson Creek Mine is expected to be 15 to 17 million pounds (down from previous guidance of 24.5 to 26 million pounds) and the Company's 75% share of the Endako Mine production is forecast at 5 to 7 million pounds (down from previous guidance of 7 to 8 million pounds). The planned production reductions include a reduction in mill operation at the Thompson Creek Mine to 70% capacity (10 days on, four days off schedule), which began in March, a reduction in the Endako Mine production capacity to 80% and a temporary summer suspension of operations for approximately one month at both the Thompson Creek and Endako mines. For 2009, total capital expenditures at the Company's operating sites are expected to be approximately $60 million, including estimated sustaining capital spending at both mines and the Langeloth Metallurgical Facility totaling $38 million and the Company's 75% share of the estimated mill expansion at the Endako Mine totaling $22 million. The Company previously had planned capital expenditures of approximately $300 million for 2009, including $149 million for its share of the mill expansion at the Endako Mine, $50 million for the Davidson Project and $101 million for sustaining capital expenditures at the operating sites. The Endako expansion project has been suspended until economic conditions improve. While the Company has also decided to delay the development decision for the Davidson Project, it is proceeding with environmental permitting. The Company estimates that its 2009 cash costs will be $7.25 to $8.25 per pound of molybdenum produced. The cash costs include production costs for the mining, milling, roasting and packaging of molybdenum oxide and HPM and deferred stripping costs (mining costs related to future planned production phases). The Thompson Creek Mine's cash costs are expected to be in the range of $7 to $8 per pound and include approximately $40 million (equivalent to $2.30 to $2.60 per pound produced) of stripping costs related to future planned production phases. The Company's previous 2009 cash cost guidance, which excluded such stripping costs, was $5 to $6 per pound produced at the Thompson Creek Mine. At the Endako Mine, cash costs are estimated at $8 to $9 per pound produced, which is unchanged from previous guidance and assumes a US$/C$ exchange rate of 1.20 (also unchanged from previous guidance). The revised 2009 Endako Mine operating plan does not anticipate any stripping costs. For 2009, the Company's sales of molybdenum produced from its own mines are expected to be 20 to 24 million pounds. In addition, sales of molybdenum purchased, processed and resold for 2009 are expected to be 3 to 4 million pounds. Operating cash flows for 2009, together with existing cash balances, a $35 million revolving credit facility and possible equipment financings, are expected to provide sufficient working capital for the Company to meet is anticipated cash requirements including capital spending, deferred stripping and working capital requirements. Based on current production plans, operating cash flows will be impacted by $20 to $24 million for every $1 per pound change in the average molybdenum price for 2009. The Company is positioned to react quickly to further changes in the molybdenum market in order to ensure adequate working capital levels are maintained. During 2007, mineral reserves were recalculated and increased at both operating mines using a long-term price of $10 per pound for molybdenum sales and updated costs. Other than 2008 production, there have been no further changes to reserves as of December 31, 2008. Analysis of 2008 development drilling activities will continue at both mines during 2009 to complete the update to the mineral reserve and resource estimates. Given the current economic environment, there are no planned drilling activities at either mine in 2009. Expenditures under an earn-in agreement on the Mount Emmons underground molybdenum project in Colorado are expected to be $5 to $7 million during 2009. 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 December 31, 2008, which will be filed with SEDAR (http://www.sedar.com/) and posted on the Company's website (http://www.thompsoncreekmetals.com/). Conference call and webcast Thompson Creek will hold a conference call for analysts and investors to discuss its 2008 financial results on Friday, March 20, 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 416-644-3415 or 1-800-732-9307 about five minutes prior to the start of the call. A live audio webcast of the conference call will be available at http://www.newswire.ca/ and http://www.thompsoncreekmetals.com/. An archived recording of the call will be available at 416-640-1917 or 1-877-289-8525 (Passcode 21296593 followed by the number sign) from 10:30 a.m. on March 20 to 11:59 p.m. on March 27. 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 800 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 http://www.thompsoncreekmetals.com/. Cautionary Note Regarding Forward-Looking Statements ---------------------------------------------------- This news release contains "forward-looking information" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation which may include, but is not limited to, statements with respect to the timing and amount of estimated future production. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Thompson Creek and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include those factors discussed in the section entitled "Risk Factors" in Thompson Creek's current annual information form which is available on SEDAR at http://www.sedar.com/ and is incorporated in its Annual Report on Form 40-F filed with the United States Securities and Exchange Commission which is available at http://www.sec.gov/. Although Thompson Creek has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Thompson Creek does not undertake to update any such forward-looking statements, except in accordance with applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements. Readers should refer to Thompson Creek's current annual information form which is available on SEDAR at http://www.sedar.com/ and is incorporated in its Annual Report on Form 40-F filed with the SEC which is available at http://www.sec.gov/ and subsequent continuous disclosure documents available at http://www.sedar.com/ and http://www.sec.gov/ for further information on mineral reserves and mineral resources, which is subject to the qualifications and notes set forth therein. Consolidated Balance Sheets December 31, (US dollars in millions) 2008 2007 Assets Current assets Cash and cash equivalents $ 258.0 $ 113.7 Accounts receivable 55.0 84.1 Product inventory 57.1 131.3 Material and supplies inventory 36.2 32.9 Prepaid expense and other current assets 6.3 4.6 Income and mining taxes recoverable 1.4 13.4 ----------- ----------- 414.0 380.0 Other assets 3.0 2.4 Restricted cash 14.2 10.0 Reclamation deposits 26.9 26.8 Property, plant and equipment 594.1 566.8 Goodwill 47.0 123.7 ----------- ----------- $ 1,099.2 $ 1,109.7 ----------- ----------- ----------- ----------- Liabilities Current liabilities Accounts payable and accrued liabilities $ 36.5 $ 60.4 Acquisition cost payable - 100.0 Income and mining taxes payable 7.5 - Current portion of long-term debt 5.6 67.2 Future income and mining taxes 8.1 6.4 ----------- ----------- 57.7 234.0 Long-term debt 11.7 170.2 Other liabilities 21.8 30.0 Asset retirement obligations 23.3 26.4 Future income and mining taxes 167.2 161.5 ----------- ----------- 281.7 622.1 ----------- ----------- Shareholders' Equity Common shares 484.1 268.1 Common share warrants 35.0 35.0 Contributed surplus 40.4 26.5 Retained earnings 304.3 129.8 Accumulated other comprehensive (loss) income (46.3) 28.2 ----------- ----------- 817.5 487.6 ----------- ----------- $ 1,099.2 $ 1,109.7 ----------- ----------- ----------- ----------- Consolidated Statements of Income Years Ended December, 31 (US dollars in millions) 2008 2007 Revenues Molybdenum sales $ 992.2 $ 891.1 Tolling and calcining 19.2 23.3 ----------- ----------- 1,011.4 914.4 ----------- ----------- Cost of sales Operating expenses 524.2 554.5 Selling and marketing 10.1 9.0 Depreciation, depletion and amortization 45.2 48.2 Accretion 1.7 1.7 ----------- ----------- 581.2 613.4 ----------- ----------- Income from mining and processing 430.2 301.0 Other (income) expenses Goodwill impairment 68.2 - General and administrative 24.4 15.9 Stock-based compensation 15.6 16.3 Exploration and development 7.9 4.6 (Gain) loss on foreign exchange (24.0) 4.3 Interest and finance fees 15.1 42.4 Interest income (2.4) (7.8) Other 2.1 (3.0) ----------- ----------- 106.9 72.7 ----------- ----------- Income before income and mining taxes 323.3 228.3 Income and mining taxes Current 112.7 103.1 Future 27.4 (32.1) ----------- ----------- 140.1 71.0 ----------- ----------- Net income $ 183.2 $ 157.3 ----------- ----------- ----------- ----------- Net income per share Basic $ 1.53 $ 1.43 ----------- ----------- ----------- ----------- Diluted $ 1.39 $ 1.24 ----------- ----------- ----------- ----------- Consolidated Statements of Cash Flows Years ended December 31, (US dollars in millions) 2008 2007 Operating Activities Net income $ 183.2 $ 157.3 Items not affecting cash: Goodwill impairment 68.2 - Depreciation, depletion and amortization 45.2 48.2 Accretion 1.7 1.7 Accretion of finance fees 5.4 7.8 Stock-based compensation 15.6 16.3 Future income and mining taxes (recoverable) 27.4 (32.1) Unrealized (gain) loss on derivative instruments (13.1) 4.8 Gain on sales contracts (2.3) - Change in non-cash working capital 86.3 (21.5) ----------- ----------- Cash generated by operating activities 417.6 182.6 ----------- ----------- Investing Activities Property, plant and equipment (101.3) (14.6) Deferred stripping costs (28.6) (34.2) Acquisition cost (100.0) - Restricted cash (4.2) (1.6) Reclamation deposit (1.0) (2.8) ----------- ----------- Cash used in investing activities (235.1) (53.2) ----------- ----------- Financing Activities Proceeds from issuance of common shares, net of issue costs 223.9 50.8 Repurchase of common shares (19.2) - Repayment of long-term debt (262.1) (168.2) Proceeds from issuance of long-term debt 36.5 - ----------- ----------- Cash used in financing activities (20.9) (117.4) ----------- ----------- Effect of exchange rate changes on cash (17.3) 3.7 ----------- ----------- Increase in cash and cash equivalents 144.3 15.6 Cash and cash equivalents, beginning of year 113.7 98.1 ----------- ----------- Cash and cash equivalents, end of year $ 258.0 $ 113.7 ----------- ----------- ----------- ----------- CONTACT: Wayne Cheveldayoff, Director of Investor Relations, Thompson Creek Metals Company Inc., Tel: (416) 860-1438, Toll free: 1-800-827-0992, ; Dan Symons, Renmark Financial Communications Inc., Tel.: (514) 939-3989, DATASOURCE: Thompson Creek Metals Company Inc. CONTACT: Wayne Cheveldayoff, Director of Investor Relations, Thompson Creek Metals Company Inc., Tel: (416) 860-1438, Toll free: 1-800-827-0992, ; Dan Symons, Renmark Financial Communications Inc., Tel.: (514) 939-3989,

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