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 Edapuson Nov 10, 2008 6:47pm

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Post# 15577079

RE: RE: RE: Drop in Price

Phirang,

I am not sure why you bought ML if you thought management were "dumb miners". You could have done your own D.D. from quarterly filing to know that they did not hedge their production. In fact ML's milled tonne cost is $4.52, so i think ML could still service their debt at $1.25 copper and $6.50 moly very easily. If copper and moy go below that i think we will all have other things to worry about. With the closing in of copper/moly mines and the new ones that require massive funding with major dilution are toast...i believe ML is still in very good shape moving forward. Believe me i don't like the share price any more than you or anyone else, however i will wait until the hedge funds finish liquidating and tax loss sellers stop selling and will buy for the upside for 2009 and 2010. If you have time take a read on destruction capitalism....it may answer some questions.

good luck with your investing.

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