Vince Martin
Long/short equity, value, gambling

No News Is Good News For Thompson Creek

To begin, look at a slide from the Thompson Creek Metals (TC) fourth quarter investor presentation released in February:

(click to enlarge)

And the same slide from the first quarter investor presentation released on Wednesday:

(click to enlarge)

In terms of 2013 and 2014 guidance, the figures are exactly the same. If you're not familiar with Thompson Creek stock, you're most likely wondering why I would bother posting essentially duplicate slides. If you are familiar with TC, however, the point is obvious. Thompson Creek stock has been hammered over the past two years, falling over 64 percent over that period. The culprit has been the company's Mt. Milligan mine, which has seen massive cost overruns. Almost exactly two years ago,...

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