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It was interesting to peruse through the transcript of the Thompson Creek (TC) (TCM.to) ConfCall dated August 14th on Seeking Alpha (as a sidebar we repeat; the only thing that SinkingAlpha has ever done to add real value to the marketplace is offer up this service, as before they came along you'd have to wait days and pay through the nose for transcripts), especially after receiving very interesting information from somebody who, let's say, has an intimate knowledge of the company's Endako mine.
That's because, according to information reliably received, a lot of what TCM thought was ore is silicate encapsulated fine moly and is (I quote) "totally unrecoverable". The decision to run Endako on stockpile only was blamed in part on the low moly prices and the need to cut operating costs, but that's only half the story folks. Unless TCM's scientist boffins come up with a new way of recovering moly, when the three year stockpile runs out that's all she wrote for the mine and after spending over $600m on that nice new mill, too. As it happens, some of those boffins inside TCM have apparently been trying to tell the stuffed suits at board level about this for quite a while but it's only now, when the caca hits the ventilador, that they're actually being listened to at last. Funny dat, innit?
Anyway, ConfCall anal yst peoples on that TCM call yesterday, you missed a big chance to really blow that Loughrey guy out the water on this. Don't miss out on the 3q call, willyaz?
Disclosure: no position in TCM.to.