DJ Thompson Creek Says Well Positioned For Acquisitions

Fri. May 08, 2009; Posted: 03:47 AM

LONDON, May 08, 2009 (Dow Jones Commodities News via Comtex) -- TC | Quote | Chart | News | PowerRating -- Thompson Creek Metals Co. Inc. (TCM.T) is well placed to consider acquisitions, the Canada-listed molybdenum producer said late Thursday.

"Given our strong cash position and recent actions to reduce production and conserve cash, Thompson Creek is well positioned...to consider possible acquisitions that will benefit shareholders," Chief Executive Officer Kevin Loughrey said.

The company told Dow Jones Newswires in March that it was actively looking at a number of possibilities, including molybdenum, molybdenum-copper assets, and opportunities in other base metals. Loughrey declined to comment further at the time.

Loughrey also said in March that the company would consider using its shares as currency to make an acquisition, if a deal were to add to earnings, but did not give a timeframe.

Analyst David Cotterell of BMO Capital Markets said the company is looking at assets in North America and South America, as well as Asia.

Thompson Creek owns an 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.

-By Michele Maatouk, Dow Jones Newswires; 44-207-842-9447; michele.maatouk@dowjones.com

(END) Dow Jones Newswires

05-08-09 0347ET

For full details on Thompson Creek Metals Company Inc. (TC) click here. Thompson Creek Metals Company Inc. (TC) has Short Term PowerRatings of 5. Details on Thompson Creek Metals Company Inc. (TC) Short Term PowerRatings is available at This Link.

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