The Mt. Milligan project is in an advanced stage of construction, and Thompson Creek estimates that commercial production will commence in late calendar 2013. Thompson Creek also reported that as of June 30, 2012, EPCM progress is 99% complete for project engineering, 94% complete for procurement, 51% complete for construction, and overall progress is at 69%. Thompson Creek, per a National Instrument 43-101 technical report regarding the Mt. Milligan project filed on SEDAR on October 13, 2011, has reported that proven and probable reserves total 482 million tonnes (0.20% copper; 0.39 g/t gold), containing 2.1 billion pounds of copper and 6.0 million ounces of gold. In addition to copper production, the technical report estimates gold production to be approximately 262,000 ounces annually during the first six years of operation and 194,000 ounces annually over the life of the mine.Thompson Creek is a growing, diversified North American mining company. In addition to owning 100% of the Mt. Milligan copper-gold project, it owns the Thompson Creek molybdenum mine and mill in Idaho, a metallurgical roasting facility in Pennsylvania, and a 75% share of the Endako mine, mill and roasting facility in northern British Columbia.
Royal Gold Increases Gold Stream Interest In The Mt. Milligan Project To 52.25%
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