Mercator Minerals Ltd MLKKF

Metals & Mining Industrial Metals & Minerals

Mercator Minerals, Ltd. is a mineral resource company engaged in the mining, exploration, development and operation of its mineral properties in Arizona, United States and Sonora, Mexico. The Company’s principal assets are the 100% owned Mineral Park Mine, a producing copper-moly mine located near Kingman, Arizona and the El Pilar Project located in Sonora Mexico. The primary focus of the Company is the expansion of copper production and molybdenum concentrate production at the Mineral Park Mine, and the development of the El Pilar Project. Its other projects include The El Creston molybdenum property, which is 175 kilometers south of the United States Border and 145 kilometers northeast of the city of Hermosillo; Molybrook, which is located on the south coast of Newfoundland, and Ajax, which is located 13 kilometers north of Alice Arm, British Columbia.

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Mercator Minerals Ltd

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Comment by tryteon Jul 16, 2013 3:48pm

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Post# 21611139

RE:David Jan

This isn't new news. They have been in talks of financing El Pillar for ages, but no one is going to give them the money right now, at least not in a fashion that benefits shareholders.

I think a more likely outcome is that they sell El Pillar to pay off some of their debts, although i think this too would not be a great option. What they need to be doing is taking drastic measures to reduce production costs, as some on this board have suggested. Two offices are unnecessary and i would imagine layoffs may be coming.

I would ask David to clarify exactly how long they are going to be able to meet their debt obligations. Just until end of 2013? Moly is now at their production cost level, so that means they are only breaking even...

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