Exhibit 99.1
THOMPSON CREEK METALS COMPANY INC.
UNAUDITED SUPPLEMENTAL QUARTERLY CONSOLIDATED BALANCE SHEETS
(US dollars in millions)
| | December 31, 2009 | | September 30, 2009 | | June 30, 2009 | | March 31, 2009 | |
Assets | | | | | | | | | |
Current assets | | | | | | | | | |
Cash and cash equivalents | | $ | 158.5 | | $ | 303.5 | | $ | 77.5 | | $ | 160.3 | |
Short-term investments | | 353.0 | | 174.7 | | 184.5 | | 100.3 | |
Accounts receivable | | 42.7 | | 55.7 | | 37.3 | | 31.6 | |
Product inventory | | 43.5 | | 47.7 | | 47.4 | | 50.3 | |
Material and supplies inventory | | 34.5 | | 34.6 | | 35.3 | | 35.0 | |
Prepaid expense and other current assets | | 6.0 | | 4.2 | | 5.0 | | 6.4 | |
Income tax receivable | | 4.8 | | 3.0 | | 2.2 | | 1.3 | |
| | 643.0 | | 623.4 | | 389.2 | | 385.2 | |
Property, plant and equipment, net | | 605.7 | | 595.6 | | 568.6 | | 539.4 | |
Restricted cash | | 16.8 | | 16.1 | | 16.0 | | 15.0 | |
Reclamation deposits | | 30.3 | | 30.1 | | 29.7 | | 29.2 | |
Goodwill | | 47.0 | | 47.0 | | 47.0 | | 47.0 | |
Other assets | | 1.8 | | 1.9 | | 3.1 | | 3.1 | |
| | $ | 1,344.6 | | $ | 1,314.1 | | $ | 1,053.6 | | $ | 1,018.9 | |
Liabilities and Shareholders’ Equity | | | | | | | | | |
Current liabilities | | | | | | | | | |
Accounts payable and accrued liabilities | | $ | 29.9 | | $ | 31.9 | | $ | 28.1 | | $ | 24.9 | |
Income and mining taxes payable | | 3.6 | | 8.2 | | 2.2 | | 0.1 | |
Current portion of long-term debt | | 3.7 | | 4.4 | | 5.0 | | 5.4 | |
Deferred income tax liabilities | | 6.7 | | 6.1 | | 6.3 | | 7.5 | |
| | 43.9 | | 50.6 | | 41.6 | | 37.9 | |
Long-term debt | | 9.2 | | 9.9 | | 10.6 | | 11.5 | |
Other liabilities | | 24.6 | | 21.3 | | 21.3 | | 21.2 | |
Asset retirement obligations | | 24.8 | | 24.9 | | 24.2 | | 23.5 | |
Common stock warrant derivatives | | 115.4 | | 121.1 | | 105.4 | | 22.4 | |
Deferred income tax liabilities | | 141.3 | | 146.0 | | 136.4 | | 132.9 | |
| | 359.2 | | 373.8 | | 339.5 | | 249.4 | |
Shareholders’ Equity | | | | | | | | | |
Common stock | | 697.1 | | 693.3 | | 491.0 | | 485.6 | |
Additional paid-in-capital | | 45.7 | | 42.5 | | 44.1 | | 41.8 | |
Retained earnings | | 232.8 | | 206.8 | | 208.2 | | 297.5 | |
Accumulated other comprehensive income (loss) | | 9.8 | | (2.3 | ) | (29.2 | ) | (55.4 | ) |
| | 985.4 | | 940.3 | | 714.1 | | 769.5 | |
| | $ | 1,344.6 | | $ | 1,314.1 | | $ | 1,053.6 | | $ | 1,018.9 | |
THOMPSON CREEK METALS COMPANY INC.
UNAUDITED SUPPLEMENTAL QUARTERLY CONSOLIDATED STATEMENTS OF OPERATIONS
(US dollars in millions, except per share amounts)
| | For the three months ended | |
| | December 31, 2009 | | September 30, 2009 | | June 30, 2009 | | March 31, 2009 | |
Revenue | | | | | | | | | |
Molybdenum sales | | $ | 103.3 | | $ | 111.8 | | $ | 71.2 | | $ | 75.6 | |
Tolling, calcining and other | | 2.9 | | 2.6 | | 2.8 | | 3.2 | |
| | 106.2 | | 114.4 | | 74.0 | | 78.8 | |
Cost of sales | | | | | | | | | |
Operating expenses | | 68.1 | | 62.5 | | 52.3 | | 58.4 | |
Selling and marketing | | 1.6 | | 1.9 | | 1.3 | | 1.4 | |
Depreciation, depletion and amortization | | 11.4 | | 11.6 | | 10.2 | | 10.2 | |
Accretion expense | | 0.4 | | 0.3 | | 0.4 | | 0.3 | |
| | 81.5 | | 76.3 | | 64.2 | | 70.3 | |
| | | | | | | | | |
Revenue less cost of sales | | 24.7 | | 38.1 | | 9.8 | | 8.5 | |
| | | | | | | | | |
Other (income) expenses | | | | | | | | | |
General and administrative | | 7.5 | | 4.5 | | 8.1 | | 5.0 | |
Exploration | | 1.4 | | 1.2 | | 1.9 | | 1.8 | |
Loss (gain) on foreign exchange | | 0.2 | | 6.8 | | 7.1 | | (3.2 | ) |
Interest (income) expense | | 0.5 | | (0.4 | ) | (0.3 | ) | (0.1 | ) |
Changes in fair value of common stock warrants | | (5.6 | ) | 15.7 | | 83.0 | | 0.3 | |
Other | | 0.1 | | — | | — | | (0.4 | ) |
| | 4.1 | | 27.8 | | 99.8 | | 3.4 | |
| | | | | | | | | |
Income (loss) before income and mining taxes | | 20.6 | | 10.3 | | (90.0 | ) | 5.1 | |
| | | | | | | | | |
Income and mining taxes (benefit) | | | | | | | | | |
Current | | 1.1 | | 9.2 | | 3.6 | | 3.3 | |
Deferred | | (6.5 | ) | 2.5 | | (4.3 | ) | (6.9 | ) |
| | (5.4 | ) | 11.7 | | (0.7 | ) | (3.6 | ) |
Net income (loss) | | $ | 26.0 | | $ | (1.4 | ) | $ | (89.3 | ) | $ | 8.7 | |
| | | | | | | | | |
Net income (loss) per share | | | | | | | | | |
Basic | | $ | 0.19 | | $ | (0.01 | ) | $ | (0.73 | ) | $ | 0.07 | |
Diluted | | $ | 0.18 | | $ | (0.01 | ) | $ | (0.73 | ) | $ | 0.07 | |
| | | | | | | | | |
Weighted average number of common shares | | | | | | | | | |
Basic | | 139.4 | | 125.9 | | 122.5 | | 122.3 | |
Diluted | | 146.9 | | 125.9 | | 122.5 | | 122.3 | |
THOMPSON CREEK METALS COMPANY INC.
UNAUDITED SUPPLEMENTAL QUARTERLY CONSOLIDATED STATEMENTS OF CASH FLOWS
(US dollars in millions)
| | For the three months ended | |
| | December 31, 2009 | | September 30, 2009 | | June 30, 2009 | | March 31, 2009 | |
Operating Activities | | | | | | | | | |
Net income (loss) | | $ | 26.0 | | $ | (1.4 | ) | $ | (89.3 | ) | $ | 8.7 | |
| | | | | | | | | |
Items not affecting cash: | | | | | | | | | |
Change in fair value of warrants | | (5.6 | ) | 15.7 | | 83.0 | | 0.3 | |
Depreciation, depletion and amortization | | 11.4 | | 11.6 | | 10.2 | | 10.2 | |
Accretion expense | | 0.4 | | 0.3 | | 0.4 | | 0.3 | |
Stock-based compensation | | 2.9 | | 0.9 | | 4.0 | | 1.4 | |
Deferred income taxes (benefit) | | (6.5 | ) | 2.5 | | (4.3 | ) | (6.9 | ) |
Unrealized loss (gain) on derivative instruments | | 2.6 | | (0.8 | ) | 1.6 | | 0.1 | |
Change in working capital accounts | | | | | | | | | |
Accounts receivable | | 13.1 | | (17.9 | ) | (5.7 | ) | 23.5 | |
Product inventory | | 5.1 | | (0.4 | ) | 3.3 | | 8.7 | |
Material and supplies inventory | | 0.3 | | 1.4 | | 0.3 | | 1.0 | |
Prepaid expense and other current assets | | (1.7 | ) | 1.7 | | 1.6 | | 0.1 | |
Income and mining taxes receivable | | (1.6 | ) | (0.7 | ) | (0.8 | ) | — | |
Accounts payable and accrued liabilities | | (3.5 | ) | 5.5 | | (0.2 | ) | (2.5 | ) |
Income and mining taxes payable | | (4.7 | ) | 5.8 | | 2.0 | | (7.5 | ) |
Total change in working capital accounts | | 7.0 | | (4.6 | ) | 0.5 | | 23.3 | |
Cash generated by operating activities | | 38.2 | | 24.2 | | 6.1 | | 37.4 | |
| | | | | | | | | |
Investing Activities | | | | | | | | | |
Short-term investments | | (169.1 | ) | 9.6 | | (81.5 | ) | (100.3 | ) |
Capital expenditures | | (11.7 | ) | (13.1 | ) | (13.7 | ) | (27.6 | ) |
Restricted cash | | (0.7 | ) | (0.1 | ) | (1.0 | ) | (0.8 | ) |
Reclamation deposits | | — | | — | | (0.2 | ) | (2.4 | ) |
Cash used in investing activities | | (181.5 | ) | (3.6 | ) | (96.4 | ) | (131.1 | ) |
| | | | | | | | | |
Financing Activities | | | | | | | | | |
Proceeds from issuance of common shares, net | | 2.5 | | 199.8 | | 3.7 | | — | |
Repayment of long-term debt | | (1.3 | ) | (1.3 | ) | (1.4 | ) | (1.3 | ) |
Cash generated (used) by financing activities | | 1.2 | | 198.5 | | 2.3 | | (1.3 | ) |
Effect of exchange rate changes on cash | | (2.9 | ) | 6.9 | | 5.2 | | (2.7 | ) |
Increase (decrease) in cash and cash equivalents | | (145.0 | ) | 226.0 | | (82.8 | ) | (97.7 | ) |
Cash and cash equivalents, beginning of period | | 303.5 | | 77.5 | | 160.3 | | 258.0 | |
Cash and cash equivalents, end of period | | $ | 158.5 | | $ | 303.5 | | $ | 77.5 | | $ | 160.3 | |