(RTTNews) -  Thompson Creek Metals Company Inc. (TC: News ) announced that its third-quarter net income was US$19.7 million or US$0.14 per common share, compared to US$100.6 million or US$0.74 per common share in the third quarter of 2008. Revenues for the quarter were US$114.4 million, compared to US$331.1 million in the prior year quarter.

Analysts polled by Thomson Reuters expected the company to report earnings of US$0.11 per share on revenues of US$89.77 million for the quarter. Analysts' estimates typically exclude special items.

For 2010, the Company expects molybdenum production volumes to be 29 to 32 million pounds, with the Thompson Creek Mine producing 22 to 24 million pounds and the 75% share of the Endako Mine production at 7 to 8 million pounds
The Company expects to sell 27 to 30 million pounds from its own mines in 2010.
The Company has some discretion in building or depleting inventory levels depending upon the economic conditions and the related demand and sales prices for molybdenum. For 2010, the Company currently has fixed-price forward sales contracts for about 1.2 million pounds at an average fixed price of US$15.15 per pound for molybdenum oxide.

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by RTT Staff Writer

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