thompson creek looking to buy moly assets...

Thompson Creek Metals Looking To Buy Moly Assets
07/11/2009 5:47AM

By Brian Truscott

Of DOW JONES NEWSWIRES


VANCOUVER (Dow Jones)--Molybdenum miner Thompson Creek Metals Co. Inc. (TC) is sitting on a sizeable war chest and looking to buy a near-term moly producer or even a copper play, Chairman and Chief Executive Kevin Loughrey told Dow Jones Newswires Friday.

"The ideal acquisition would be a moly producer in North America that would generate revenue (sometime) in the next couple of years," he said. "That universe is kind of small so we would expand in every way possible, looking at jurisdictions outside of the U.S., such as South America and Australia."

A shortlist of potential targets include: Creston Moly Corp. (CMS.V), General Moly Inc. (GMO.T), TTM Resources Inc. (TTQ.V) and Moly Mines Ltd. (MOL.AU) in Australia.