Thompson Creek offers shares

Thompson Creek Metals has put out a share offering to help to complete the construction of the copper-gold project Mount Milligan Mine.

  • May. 23, 2012 5:00 a.m.

Thompson Creek Metals has put out a share offering to potentially raise further $430 million to help to complete the construction of the copper-gold project Mount Milligan Mine.

The announcement of the offering caused share prices to drop 11 per cent on Monday.

Approximately $200 million will potentially be raised through a debt-offering and $230 million through an equity-share offering.

Debt-offering does not include a future stake in the mine profits while equity shares would.

The equity shares would convert to Thompson Creek common stock on May 15, 2015.

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