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.

GREY:MLKKF - Post by User

Mercator Minerals Ltd

Bullboard Posts

Post by vlieton Jan 05, 2010 1:06pm

319 Views

Post# 16640136

Today's block trades

7 Block Trades

Ex	Symbol	Time	Price	Change	Volume	Buyer	Seller
T	ML	2010-01-05 12:10:36	2.66	-0.04	185,000	85 Scotia	1 Anonymous

T	ML	2010-01-05 12:48:36	2.67	-0.03	200,000	1 Anonymous	1 Anonymous

T	ML	2010-01-05 10:55:34	2.65	-0.05	500,000	1 Anonymous	1 Anonymous

T	ML	2010-01-05 12:09:57	2.65	-0.05	762,600	121 Jennings	121 Jennings

T	ML	2010-01-05 12:03:12	2.65	-0.05	899,600	121 Jennings	121 Jennings

T	ML	2010-01-05 10:54:04	2.65	-0.05	1,200,000	121 Jennings	121 Jennings

T	ML	2010-01-05 09:37:31	2.65	-0.05	1,800,000	121 Jennings	121 Jennings

And here's the lates financing from Sept:

Mercator Minerals completes $80.5-million financing

2009-09-17 08:33 MT - News Release

Mr. Michael Surratt reports

MERCATOR MINERALS LTD. COMPLETES BOUGHT DEAL FINANCING

Mercator Minerals has closed the bought-deal offering of its common shares as previously announced in Stockwatch. The underwriters co-led by Jennings Capital Inc. and Scotia Capital Inc., and including Blackmont Capital Inc., Haywood Securities Inc. and Acumen Capital Finance Partners Ltd., chose to exercise their overallotment option in full, resulting in a total of 30,961,538 common shares being issued by Mercator Minerals for gross proceeds of $80.5-million.

Mercator will use the net proceeds of the prospectus offering to advance stage 2 of its Mineral Park project's phase 4 expansion, and as working capital.

I'm wondering if Jennings is selling a portion of their financing to reduce their exposure to ML. That being said the other lead brokerage is Scotia and they are today's biggest buyer. Heck with a cross you can't tell who's buying and who is selling but something tells me the recent upswing above the latest offering price may be good enough for a few that bought into the financing back in Sept. Obviously today's buyers see value at today's price or they wouldn't be buying several million shares.

Here's today's house positions:

Here are all the house positions for : ML for 1/5/2010.

25 Records Returned

House Positions

Exch	House	Bought	$Value	Ave	Sold	$Value	Ave	Net	$Net
	85 Scotia	642,605	1,709,627	2.66	90,300	239,125	2.65	552,305	-1,470,502

	2 RBC	86,600	231,824	2.68	22,900	60,919	2.66	63,700	-170,905

	17 Integral	50,000	134,500	2.69	0			50,000	-134,500

	31 Dominick	50,000	134,000	2.68	0			50,000	-134,000

	99 Jitney	141,400	374,825	2.65	92,000	244,061	2.65	49,400	-130,764

	11 MacQuarie	35,000	93,100	2.66	0			35,000	-93,100

	80 National Bank	89,200	237,195	2.66	66,450	176,648	2.66	22,750	-60,547

	7 TD Sec	228,650	606,411	2.65	211,990	562,530	2.65	16,660	-43,881

	14 ITG	10,700	28,437	2.66	0			10,700	-28,437

	58 Qtrade	9,500	25,080	2.64	0			9,500	-25,080

	19 Desjardins	11,517	30,465	2.65	3,050	8,082	2.65	8,467	-22,383

	59 PI	7,500	20,175	2.69	0			7,500	-20,175

	46 Blackmont	3,900	10,374	2.66	0			3,900	-10,374

	9 BMO Nesbitt	12,100	32,135	2.66	8,200	21,956	2.68	3,900	-10,179

	79 CIBC	193,875	515,549	2.66	191,600	507,345	2.65	2,275	-8,204

	33 Canaccord	12,200	31,972	2.62	10,045	26,819	2.67	2,155	-5,153

	39 Merrill Lynch	500	1,310	2.62	0			500	-1,310

	65 Goldman	200	530	2.65	0			200	-530

	132 Acker Finley	335	888	2.65	722	1,922	2.66	-387	1,034

	81 HSBC	0			1,000	2,660	2.66	-1,000	2,660

	124 Questrade	675	1,799	2.67	2,000	5,320	2.66	-1,325	3,521

	89 Raymond James	0			29,400	78,111	2.66	-29,400	78,111

	74 GMP	0			32,200	85,930	2.67	-32,200	85,930

	121 Jennings	4,680,600	12,403,880	2.65	4,953,500	13,134,147	2.65	-272,900	730,267

	1 Anonymous	886,000	2,352,690	2.66	1,437,700	3,821,191	2.66	-551,700	1,468,501
	Total	7,153,057	18,976,766	2.65	7,153,057	18,976,766	2.65	0	0