RE:RE:Potential buyerCabo - from Q3 report
At Thompson Creek Mine, molybdenum production for the third quarter of 2013 was 5.7 million pounds at a cash cost of $4.30 per pound produced, compared to 4.3 million pounds at a cash cost of $7.87 per pound produced for the third quarter of 2012. The improvement in production and cash cost was primarily the result of the planned mine pit sequencing, transitioning into Phase 7 of production in the first half of 2012 and the suspension of waste stripping activity associated with the next phase of production.
At Endako Mine, the Company's 75% share of molybdenum production for the third quarter of 2013 was 2.8 million pounds at a cash cost of $9.23 per pound produced, compared to 1.8 million pounds at a cash cost of $13.19 per pound produced for the third quarter of 2012. During the third quarter of 2013, the Company obtained higher ore grades and mill recoveries from Endako Mine, primarily as a result of mining fresh ore versus stockpiled material together with optimization work performed by the Endako operations team, which improved production and cash costs per pound produced for the quarter. The Company is currently processing both mined and stockpiled material. While operating results continue to improve at Endako Mine, management expects to continue optimizing production operating activities, undertake additional cost savings and evaluate other measures at Endako in response to molybdenum market conditions.