Thompson Creek Metals plans to raise a further $430 million to pay for construction of its Mount Milligan copper-gold mine.
The Denver-based miner said it will raise $200 million through a debt offering and up to $230 million via a tangible equity unit offering. Each unit will convert into Thompson Creek common stock on May 15, 2015.
"We expect this financing will give us more than sufficient funds to complete the Mount Milligan project on schedule," said chief executive Kevin Loughrey in a conference call with investors on Monday.
Preliminary prospectuses have been filed with both Canadian and American regulators.
In February, Thompson Creek said the cost of building the mine, between Fort St. James and Mackenzie, would rise by 10 to 20 per cent to $1.4 to $1.5 billion.
The gold and copper mine, 155 kilometres north of Prince George, is expected to be operating in the second half of 2013.
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