TORONTO (miningweekly.com) – Molybdenum-miner Thompson Creek Metals will sell 15,5-million shares to raise C$217-million in a bought-deal public offering, the firm said on Tuesday.

The company, which said earlier this month it would restart a mill expansion at its Endako mine, in British Columbia, will use the proceeds of the offering for the “development and expansion of existing mining assets, exploration activities, acquisitions, working capital and general corporate purposes”.

Besides Endako, Thompson Creek also mines molybdenum from the Thompson Creek mine, in Idaho.

The share offering has been priced at C$14 apiece, and the company has given its underwriters an overallotment option on another 2,33-million shares, which, if fully exercised, would increase the total proceeds to C$250-million.

The offering is scheduled to close on or about September 16, Thompson Creek said.

Shares in the company fell 5% on Tuesday, to C$14,99.

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