Mercator Minerals Ltd MLKKF

Metals & Mining Copper

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 tsawbosson Dec 29, 2008 1:06pm

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Post# 15669825

RE: It is going to be close....

Even if they do not meet the EBIDTA specified by the debt covenants...the $30 million goes to principal...this is a one time event.

As it stands now they have enough to make that payment and 2 interest payments.

There is nothing that say thay cant re-fi the notes.The money was borrowed on an idea to build the mills....and have phase 1 done and phase 2 is 80% complete.Floating a longer term note in the latter half of next year to should be no problem.Libor is less than 1.5%.

Recent moly sales were at $10.75

I doubt DR&Co. will let the moly out of their hands.

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