Seeking Alpha: Thompson Creek Not Yet Past The Point Of Hard Decisions

This has been a pretty good year for a number of Canadian base metal miners, with First Quantum (OTCPK:FQVLF), HudBay (NYSE:HBM), Copper Mountain (OTCPK:CPPMF), and Thompson Creek (NYSE:TC) all doing pretty well since the start of the year. Thompson Creek's path to this point hasn't exactly been smooth (the shares are down about 25% over the past 12 months), and there are still quite a few uncertainties with respect to the company's plans for its molybdenum operations, as well as it how will resolve ongoing ore hardness issues at Mt. Milligan.

The company seems to be past the worst of its liquidity pressures, though, and should be free cash flow-positive from 2014 forward (unless base metal prices get very weak). Future decisions on how to proceed at the Thompson Creek mine and whether to add a second crusher to Mt. Milligan could have material impacts on the net asset value, but as things stand today, I believe the shares are still undervalued.

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Thompson Creek Not Yet Past The Point Of Hard Decisions