- Announced a reduction in planned capital expenditures including the postponement of the completion of the expansion project at its 75%-owned Endako Mine.
- The Company estimates it will have cash balances of approximately $225M on December 31, 2008. The Company also has available an undrawn $35M revolving bank credit facility.
- Capital spending in 2009 is expected to be $69M, including $36M for sustaining capital expenditures and $33M for the Company's share of Endako expansion capital expenditures. The Company's share of Endako expansion capital expenditures in 2008 is expected to be approximately $37M.
- The Company is currently assessing potential impairments of goodwill and other assets. If the current weak market conditions continue through the end of this year, the Company may be required to record impairments against goodwill and potentially against other assets.

Other headlines for [TC]

• TC 12/18/2008 04:27pm
  Thompson Creek Price Target lowered to C$5.50 from C$8.50 at UBS, maintains buy rating
  
• TC 12/8/2008 06:36am
  Thompson Creek Canaccord Adams Raised TC to Buy from Hold
  
• TC 12/5/2008 07:17am
  Thompson Creek Provides update on 2009 CAPEX plans- Announced a reduction in planned capital expenditures including the postponement of the completion of the expansion project at its 75%-owned Endako Mine. - The more...
  
• TC 11/25/2008 08:25am
  Thompson Creek CIBC Initiates TC with Sector Outperformer
  
• TC 11/12/2008 08:29am
  Thompson Creek Shares cut to sector perform from outperform at a boutique firm
  

Materials sector headlines

• SGL.GE Today 05:22am
  SGL Carbon Dresdner Kleinwort Wasserstein Cuts SGL.GE to Hold from Buy
  
• ROH Today 03:51am
  Rohm and Haas Company EU commission clears merger with Dow Chemical- Note: On 11.25, Dow Chemical re-notifies EU on Rohm purchase - Withdraws original notification to support second application. - EU to decide on more...
  
• RIO.UK Today 02:17am
  Rio Tinto Ltd DB Cuts RIO.UK to Hold from Buy
  
• 5406.JP Today 02:07am
  Kobe Steel Sees securities valuation loss of ¥15.8B- The Japanese steelmaker said it will book the write-down as a special loss, which could push down the company''s net earnings if not offset by special more...
  
• XTA.UK Today 01:46am
  Xstrata Merrill Lynch Cuts XTA.UK to Neutral from Buy