Denver, CO - Thompson Creek Metals Company Inc. (the "Company" or "Thompson Creek"), a growing, diversified North American mining company, today announced financial results for the three months ended March 31, 2013, prepared in accordance with United States generally accepted accounting principles ("US GAAP"). All dollar amounts are in United States ("US") dollars unless otherwise indicated. References to C$ refer to Canadian dollars. First Quarter 2013 Highlights (compared to the same period in 2012, unless noted) Operational: - Molybdenum production increased 74% to 7.7 million pounds, from 4.4 million pounds
- Average cash costs of molybdenum produced decreased 54% to $5.91 per pound, compared to $12.95 per pound
- Total sales of molybdenum increased 18.5% to 8.8 million pounds, compared to 7.4 million pounds
Financial: - Operating income was $17.0 million, a $33.5 million improvement from an operating loss of $16.5 million in the prior year, despite lower revenue
- Consolidated revenue was $108.7 million, compared to $113.6 million
- Cash flow from operations was $15.3 million, compared to $3.1 million
- Net income totaled $0.9 million, or nil per diluted share, compared to $1.1 million, or $0.01 per diluted share
Mt. Milligan: - Another safety milestone was reached at Mt. Milligan with approximately 4.0 million work hours without a lost time incident
- Advanced construction progress at Mt. Milligan to overall completion of approximately 89%
- Maintained construction schedule with anticipated commissioning and start-up in August of 2013
- Approximately 95% of capital expenditures spent or contractually committed since inception of the Mt. Milligan project
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