Thompson Creek loses $11.1-million (U.S.) in Q3 2014"Net loss for the third quarter of 2014 was $11.1-million, or five cents per diluted share, compared with net income of $13.8-million, or six cents per diluted share, for the third quarter of 2013. The third quarter of 2014 and 2013 included non-cash foreign exchange losses of $60.3-million and foreign exchange gains of $24.2-million, respectively, primarily on intercompany notes."
The company's molybdenum operations contributed $124.3-million to total revenue in the third quarter, primarily as a result of a higher average realized sales price of $13.94 per pound, up 35.3 per cent from $10.30 per pound in the third quarter of 2013. At TC mine, mining of phase 7 ore was completed in August and the company expects to process stockpiled ore through the remainder of this year. Thereafter, the mine will be placed on care and maintenance. However, while in care and maintenance, the company intends to conduct limited stripping operations for the next phase of mining. "This limited stripping plan will enable us to maintain the optionality of the mine with a reduced work force, while continuing to evaluate viable alternatives for the next stage of mining."
Q4 - lower moly prices, TC milling stockpiled ore (likely lower grade)