Thompson Creek announces normal course issuer bid
25 September 2008 - 8:43PM
PR Newswire (US)
NYSE: TC TSX: TCM, TCM.WT Frankfurt: A6R TORONTO, Sept. 25
/PRNewswire-FirstCall/ -- Thompson Creek Metals Company Inc. (the
"Company"), one of the world's largest, publicly traded, pure
molybdenum producers, today announced that the Toronto Stock
Exchange (the "TSX") has accepted the Company's Notice of Intention
to make a Normal Course Issuer Bid (the "Bid") to purchase for
cancellation, from time to time, as the Company considers
advisable, its issued and outstanding common shares (the "Shares").
There are 125,046,072 Shares issued and outstanding on the date
hereof. Of this amount, 123,066,702 constitute "public float"
calculated in accordance with the rules of the TSX. The Company
intends to purchase for cancellation up to a maximum of 12,300,000
Shares, being approximately 10% of the Company's "public float"
outstanding on the date hereof. Of this amount, the Company may
make purchases under the Bid of up to 6,252,303 Shares through the
facilities of the New York Stock Exchange (the "NYSE"). The daily
trading limit is 986,669 Shares until October 2, 2008, unless
further extended, and 246,667 Shares thereafter, subject to block
purchase exceptions. The Company plans to fund its share purchases
under the Bid from free cash flow. The Company has not purchased
any of its Shares during the preceding 12 months pursuant to a
normal course issuer bid. Purchases under the Bid may commence on
September 29, 2008 and may be made until September 28, 2009, or
such earlier time as the Bid is completed or terminated at the
option of the Company. Purchases will be made on the open market
through the facilities of the TSX in accordance with its policies
and may also be made through the facilities of the NYSE in
accordance with its rules. The price to be paid will be the market
price at the time of acquisition. The Company believes that from
time to time its Shares have been trading at prices that do not
reflect the underlying value of the Company. As a result, the
Company believes that its Shares are a good investment at their
current and recent trading prices and that the purchase of its
Shares will help create value for its shareholders. About Thompson
Creek Metals Company Inc. Thompson Creek Metals Company Inc. is one
of the largest publicly traded, pure molybdenum producers in the
world. The Company owns the Thompson Creek open-pit molybdenum mine
and mill in Idaho, a metallurgical roasting facility in Langeloth,
Pennsylvania and a 75% share of the Endako open-pit mine, mill and
roasting facility in northern British Columbia. Thompson Creek is
also developing two high-grade underground molybdenum deposits, the
Davidson Deposit near Smithers, B.C., and the Lucky Jack Deposit
near Crested Butte, Colorado. The Company has approximately 800
employees. Its principal executive office is in Denver, Colorado,
and it has other executive offices in Toronto, Ontario and
Vancouver, British Columbia. More information is available at
http://www.thompsoncreekmetals.com/. Cautionary Note Regarding
Forward-Looking Statements This news release contains
"forward-looking information" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and
applicable Canadian securities legislation which may include, but
is not limited to, statements with respect to the timing and amount
of estimated future production. Often, but not always,
forward-looking statements can be identified by the use of words
such as "plans", "expects", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", or "believes"
or variations (including negative variations) of such words and
phrases, or state that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Thompson Creek and/or its
subsidiaries to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements. Such factors include those factors
discussed in the section entitled "Risk Factors" in Thompson
Creek's current annual information form which is available on SEDAR
at http://www.sedar.com/ and is incorporated in its Annual Report
on Form 40-F filed with the United States Securities and Exchange
Commission which is available at http://www.sec.gov/. Although
Thompson Creek has attempted to identify important factors that
could cause actual actions, events or results to differ materially
from those described in forward-looking statements, there may be
other factors that cause actions, events or results to differ from
those anticipated, estimated or intended. Forward-looking
statements contained herein are made as of the date of this news
release and Thompson Creek does not undertake to update any such
forward-looking statements, except in accordance with applicable
securities laws. 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, readers are cautioned not to place undue
reliance on forward-looking statements. CONTACT: Wayne
Cheveldayoff, Director of Investor Relations, Thompson Creek Metals
Company Inc., Tel: (416) 860-1438, Toll free: 1-800-827-0992, ; Dan
Symons, Renmark Financial Communications Inc., Tel.: (514)
939-3989, DATASOURCE: Thompson Creek Metals Company Inc. CONTACT:
Wayne Cheveldayoff, Director of Investor Relations, Thompson Creek
Metals Company Inc., Tel: (416) 860-1438, Toll free:
1-800-827-0992, ; Dan Symons, Renmark Financial Communications
Inc., Tel.: (514) 939-3989,
Copyright