DENVER, CO, Nov. 13, 2012 /PRNewswire/ - Thompson Creek Metals Company Inc. (the "Company" or "Thompson Creek"), today announced its intention to offer, subject to market and other conditions, $350,000,000 of its Senior Secured First Priority Notes due 2018 ("Senior Secured Notes").
The Company intends to use the proceeds from the offering for general corporate purposes, including capital expenditures relating to the development of its Mt. Milligan copper-gold mine. In connection with the closing of this offering, the Company intends to terminate its revolving credit facility, under which no debt is outstanding.
The Senior Secured Notes will be fully and unconditionally guaranteed by certain wholly-owned subsidiaries of the Company. The Senior Secured Notes and the related guarantees will be secured by a first-priority lien subject to permitted liens on substantially all of the Company's and the guarantors' property and assets. The Senior Secured Notes are not convertible into equity of Thompson Creek.
The offering is being made in the United States pursuant to an effective shelf registration statement that has been filed with the Securities and Exchange Commission (the "SEC"). A preliminary prospectus supplement related to the offering will be filed with the SEC and will be available on the SEC's website at http://www.sec.gov.
The offering is being made in Canada pursuant to an effective Canadian base shelf prospectus that has been filed on SEDAR. A preliminary prospectus supplement related to the offering will be filed with, and be available on, SEDAR at http://www.sedar.com.
Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the Senior Secured Notes may be obtained from the Sole Book-Running Manager, Deutsche Bank Securities Inc., by telephone at 1-800-503-4611, by email to prospectus.CPDG@db.com or by mail to Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005-2836.
This press release is neither an offer to sell nor a solicitation of an offer to buy any of Senior Secured Notes or any other security of the Company, nor shall there be any sale of the Senior Secured Notes in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Thompson Creek Metals Company Inc.
Thompson Creek Metals Company Inc. is a growing, diversified North American mining company. The Company produces molybdenum at its 100%-owned Thompson Creek Mine in Idaho and Langeloth Metallurgical Facility in Pennsylvania and its 75%-owned Endako Mine in northern British Columbia. Thompson Creek has approximately 1,100 employees. Its principal executive office is in Denver, Colorado and its Canadian administrative office is in Vancouver, British Columbia.
Cautionary Note Regarding Forward-Looking Statements
This news release contains ''forward-looking statements'' within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include statements with respect to: the actual or anticipated timing or amount of securities offerings, the terms of the securities offered, future financial or operating performance of Thompson Creek or its subsidiaries and its projects; future inventory, production, sales, cash costs, capital expenditures and exploration expenditures; future earnings and operating results; expected concentrate grades, and recovery; statements as to the projected development of Mt. Milligan and other projects, including expected production commencement dates; Mt. Milligan development costs; operating goals of Thompson Creek or its subsidiaries; and future molybdenum prices.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors which could cause actual results to
differ materially from any future results, performance or achievements
expressed or implied by the forward-looking statements. Such factors
include, among others, risks related to whether the offered securities
will be sold, general business, economic, competitive, political and
social uncertainties including global economic conditions; volatility
in molybdenum prices; labor cost and materials cost fluctuations;
foreign currency fluctuations; energy price fluctuations; project
delays; title disputes or claims; limitations of insurance coverage;
changes in governmental regulation of mining operations; risks related
to the volatility of Thompson Creek's share price; changes in
environmental regulation; actual results of current exploration
activities; actual results of reclamation activities; conclusions of
economic evaluations; changes in project parameters as plans continue
to be refined; possible variations of ore grade or recovery rates;
mining and processing conditions; construction delays and related
disruptions in production; costs of capital expenditures; industrial
accidents; weather and geological related conditions; permitting and
regulatory matters (including penalties, fines, sanctions and
shutdowns); and failure of plant, equipment or processes to operate as
anticipated. Additional factors that could cause Thompson Creek's
results to differ from those described in the forward-looking
statements can be found in the section entitled ''Risk Factors'' in
Thompson Creek's Annual Report on Form 10-K and in Part II, Item 1A of
Thompson Creek's Quarterly Reports on Form 10-Q, and subsequent
documents filed on EDGAR at www.sec.gov and on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date
of this news release and Thompson Creek disclaims any obligation to
update any forward-looking statements, whether as a result of new
information, future events or results or otherwise, except as required
by law. There can be no assurance that forward-looking statements will
prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, the
reader is cautioned not to place undue reliance on forward-looking
Director, Investor Relations
Thompson Creek Metals Company Inc.
Tel: (303) 762-3526
Renmark Financial Communications Inc.
Tel: (416) 644-2020
SOURCE Thompson Creek Metals Company Inc.