Thompson Creek moves to close funding gap

Dec 15, 2011 | 04:57 PM | Thorsten Schier

Tags  Thompson Creek, Royal Gold, Mount Milligan project, molybdenum, gold, offtake arrangement, funding gap, Thorsten Schier

NEW YORK — Molybdenum producer Thompson Creek Metals Co. Inc. has sold forward more of the gold production from its Mount Milligan copper-gold mine in British Columbia to Royal Gold Inc., the company said Thursday.

The move increases Royal Gold’s offtake of Mount Milligan’s gold to 40 percent at a total cost of $581.5 million, according to a statement released by Denver-based Thompson Creek. Royal Gold, also based in Denver, had previously committed to 25 percent of the gold offtake at Mount Milligan at a cost of....

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