Aus stockhouse :
Nov.15 2007 Looks like 2007 projections will be met! (See last paragraph)
A rockslide that has halted production at Thompson Creek Metals Co. Inc.'s (TCM/TSX) 75%-owned Endako mine in British Columbia should have little impact on the company's 2007 and 2008 earnings, according to Desjardins Securities analyst John Redstone.
The slide occurred late in the evening of November 12, at the east end of the south wall of the Endako Pit, partially burying a shovel that was mining ore at the affected site, Thompson Creek said in a statement issued on Tuesday.
The operator sustained only a minor injury and operations in the Endako Pit were shut down in order for the situation to be assessed, the company added.
"There have been slides at the Endako pit before and, at this stage, it would appear production could resume in a few weeks." Mr. Redstone wrote in a research note.
"Other alternatives include processing stockpiled ore and increasing production at [the Denick West pit, the other open-pit operation at the Endako mine]."
Mr. Redstone maintained his 2007 and 2008 EPS estimates of US$1.48 per share and US$2.61, respectively and left his "buy" rating and 30.60 price target unchanged.
David Pett |