Thompson Creek Metals Co., Inc. (TC) Reports Smaller-than-Expected Q1 Loss

Thompson Creek Metals Co., Inc. (NYSE: TC) reported Q1 EPS of ($0.02), $0.06 better than the analyst estimate of ($0.08). Revenue for the quarter came in at $161 million versus the consensus estimate of $161.23 million.

Jacques Perron, Chief Executive Officer of Thompson Creek, said, "During the first quarter of 2014, we continued to focus on execution and are pleased to report good progress at Mt. Milligan. As previously disclosed, we reached a significant milestone in February of this year when Mt. Milligan achieved commercial production. Our new Mt. Milligan leadership team focused on the optimization of the mine and mill, which resulted in improvements in concentrate production and cash costs. Payable copper production increased 52.1% from the previous quarter and by-product cash costs decreased 68.8%. Payable gold production increased 118.3% from the previous quarter, and co-product cash costs decreased 56.3%. We expect Mt. Milligan to ramp up to 75 to 80% of the designed mill throughput of 60,000 tonnes per day by the end of 2014 and continue to ramp up to 100% during 2015.”

For earnings history and earnings-related data on Thompson Creek Metals Co., Inc. (TC) click here.

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