- Thompson Creek (TC -3.6%) needs metal prices to rise ~30% to avoid some form of restructuring, CIBC warns, but the miner "has time in its favor."
- However, the firm says TC is making positive progress at the Mt. Milligan copper and gold project, does not foresee near-term liquidity issues and considers the recent share price pullback as a buying opportunity for risk-tolerant investors.
- The firm notes that molybdenum currently accounts for 100% of TC sales but is forecast to fall to 40% next year.
CIBC: Thompson Creek needs 30% higher metal prices to avoid restructure
Dec 12 2013, 12:41 ET