It takes money to make money, and that lesson is proving painful for Thompson Creek (NYSE:TC)
and its investors. Higher than expected development costs for the
critical Mt. Milligan project have dented management credibility, while
dilutive financing has smacked the stock. Making matters worse,
investors seem to be back in one of those moods where steel (the primary
market for molybdenum) and copper (a major future commodity for
Thompson Creek) are doomed to eternal malaise.
Thompson Creek is absolutely not a stock for the mortgage money, nor for impatient investors, but for those who believe a steel rebound is probable and want an undervalued play on a small industrial metals miner, this is a stock worth checking out.
Thompson Creek is absolutely not a stock for the mortgage money, nor for impatient investors, but for those who believe a steel rebound is probable and want an undervalued play on a small industrial metals miner, this is a stock worth checking out.
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