Thompson Creek Reports Higher Gold and Copper Output for Q1

Thompson Creek Metals Company Inc. (TSX:TCM,OTCQX:TCPTF) announced its production and sales results for the first quarter of 2016, commenting that total concentrate production from its Mount Milligan mine clocked in at 40,100 dry tonnes, including 19.1 million pounds of payable copper and 53,300 ounces of payable gold.
As quoted in the press release:

During the three months ended March 31, 2016, the Company completed three shipments of copper and gold concentrate.
During the first quarter of 2016, daily mill throughput at Mount Milligan averaged 58,099 tonnes, compared to 39,569 tonnes for the first quarter of 2015. Mill availability was 96.6%, compared to 87.3% for the same period in 2015.

Jacques Perron, president and CEO of Thompson Creek, commented:

Operationally, Mount Milligan had a very good quarter compared to one year ago. The modifications and enhancements that were made in 2015 to remedy operational challenges experienced during the first quarter of last year proved successful, and as a result, daily mill throughput increased 47%, and copper and gold payable production increased 24% and 16%, respectively, compared to the first quarter of 2015. Copper and gold recoveries for the first quarter of 2016 were in line with our expectations and lower compared to the first quarter of 2015, primarily as a result of changes in the operational conditions resulting from increased throughput. Gold recoveries were further impacted as a result of lower gold grades compared to the first quarter of last year. During 2015, our primary focus at Mount Milligan was to increase daily mill throughput, and thanks to the hard work of our team, we achieved this objective. For 2016, we will continue to optimize the mine and mill operations to increase recoveries, and we are confident that we will achieve this objective, as well.
Activities in connection with the construction of the permanent secondary crushing circuit are going well and remain on schedule, and, as previously disclosed, we expect to complete construction and commissioning by the end of this year.

Click here to read the full Thompson Creek Metals Company Inc. (TSX:TCM,OTCQX:TCPTF) press release.