U.S. Molybdenum miner Thompson Creek Metals has reported consolidated revenues for Q1 2015 of US$123.0 million, compared to US$161.0 million in Q1 of 2014.
Molybdenum sales for Q1 of 2015 were US$42.8 million, compared to US$102.9 million in Q1 2014.
Molybdenum sales volumes in the first quarter of 2015, which consisted of the sale of molybdenum inventory produced at the company’s mines in 2014 and molybdenum sourced from third parties, were 4.3 million pounds at an average realized price of US$10.00 per pound compared to 9.8 million pounds at an average realized price of US$10.45 per pound for the first quarter of 2014.
Net loss for Q1 2015 was US$87.2 million, or US$0.41 per share, compared to a net loss of US$39.1 million, or US$0.23 per share, for Q1 2014.
‘Our first quarter results did not meet our expectations, as throughput and production at Mount Milligan Mine were negatively impacted by several operational and mechanical issues in the mill,’ said Jacques Perron, president and CEO of Thompson Creek. ‘We gained valuable knowledge as we worked through these challenges and are confident that we have developed solutions, some of which are already in place, to address these issues. It is still our objective to achieve daily mill throughput of approximately 60,000 tonnes by year-end.’
This story is reprinted from material from Thompson Creek, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.
