Thompson Creek Metals Records Q3 Net Income of $13.8 Million

Thompson Creek Metals Company Inc. (TSX:TCM,NYSE:TC) announced its financial results for the three and nine months ended September 30, 2013, commenting that during Q3, its net income came to $13.8 million, up from a net loss of $48.2 million in the year-ago quarter, while its consolidated revenue came to $90.8 million, up 21 percent from the same period in 2012.

Other financial highlights include:

• Operating income was $4.5 million, compared to an operating loss of $37.2 million.
• Cash flow from operations was $19.5 million, compared to $3.3 million.
• Non-GAAP adjusted net loss was $7.6 million, or $0.04 per diluted share, compared to a non-GAAP adjusted net loss of $18.4 million, or $0.12 per diluted share.

Operational highlights include:

• Mt. Milligan commenced the start-up phase in September with initial production of 1,801 tons of copper-gold-silver concentrate.
• Molybdenum production from the mines increased 39% to 8.5 million pounds, compared to 6.1 million pounds.
• Average cash costs of molybdenum produced decreased 37% to $5.93 per pound, compared to $9.46 per pound.
• Total sales of molybdenum increased 47% to 8.3 million pounds, compared to 5.6 million pounds.

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