TRADING SYMBOL: TSX - ML
VANCOUVER, April 5 /CNW/ - Mercator Minerals Ltd. (TSX:ML) ("Mercator",
or the "Company") is pleased to announce that its wholly owned
subsidiary Mineral Park Inc. has met the requirements of its completion
guarantee under the terms of the Silver Wheaton silver agreement
following 30 consecutive days of mill operation at an average of 35,000
tons per day. Mineral Park operated over the past 30 days at an
average 35,238 tons per day, including operating during the last 4 days
at an average of 40,840 tons per day. Mill availability for March was
98% versus year to date availability of 95%. Mill availability is
calculated using all down time, both scheduled and unscheduled.
The Silver Wheaton transaction closed in March of 2008. As part of that
contract Mineral Park was required to demonstrate mill operations by
producing an average of 35,000 tons per day for 30 consecutive days.
Gary Simmerman, BSc., Mercator's VP Engineering, a Qualified Person as
defined by NI 43-101, supervised the preparation of and verified the
Mercator technical information contained in this release.
About Mercator Minerals Ltd.
Mercator Minerals Ltd. is a TSX listed mining company with an
experienced management team that has brought the mill expansion at the
Mineral Park Mine, one of the largest and most modern copper-moly
mining-milling operations in North America, to production in less than
2 years. Mercator management is dedicated to maximizing profits at the
Mineral Park Mine and the development of the El Pilar copper project in
On Behalf of the Board of Directors
MERCATOR MINERALS LTD.
Per: "Michael L. Surratt"
Michael L. Surratt
The Toronto Stock Exchange does not accept responsibility for the
adequacy or accuracy of this press release.
Forward Looking Information
This press release contains certain forward-looking statements, which
include estimates, forecasts, and statements as to management's
expectations with respect to, among other things, the use of proceeds,
the size and quality of the Company's mineral reserves and mineral
resources, future production, capital and mine production costs, demand
and market outlook for commodities, and the financial results of the
Company and discussions of future plans, projections and objectives. In
addition, estimates of mineral reserves and resources may constitute
forward looking statements to the extent they involve estimates of the
mineralization that will be encountered if a property is developed.
These forward-looking statements involve numerous assumptions, risks
and uncertainties and actual results may vary. Factors that may cause
actual results to vary include, but are not limited to, certain
transactions, certain approvals, changes in commodity and power prices,
changes in interest and currency exchange rates, inaccurate geological
and metallurgical assumptions (including with respect to the size,
grade and recoverability of mineral reserves and resources),
unanticipated operational difficulties (including failure of plant,
equipment or processes to operate in accordance with specifications,
cost escalation, unavailability of materials and equipment, delays in
the receipt of government approvals, industrial disturbances or other
job action, and unanticipated events related to health, safety and
environmental matters), political risk, social unrest, and changes in
general economic conditions or conditions in the financial markets.
These risks are described in more detail in the Annual Information Form
of the Company. The Company does not assume the obligation to revise or
update these forward-looking statements after the date of this report
or to revise them to reflect the occurrence of future unanticipated
events, except as may be required under applicable securities laws. For
a more complete discussion, please refer to the Company's audited
financial statements and MD&A for the year ended December 31, 2010 on
the SEDAR website at www.sedar.com.
SOURCE Mercator Minerals Ltd.
For further information:
Marc LeBlanc, VP Corporate Development and Corporate Secretary, Tel: (604) 981-9661; Fax: (604) 960-9661; Email: firstname.lastname@example.org.