TRADING SYMBOL: TSX - ML
KINGMAN, AZ, June 18 /CNW/ - Mercator Minerals Ltd is pleased to announce
significant progress in the construction of the 50,000 ton per day
concentrator at the Company's wholly owned Mineral Park Mine located in
The two sag mill foundations have been poured and the forming of the
support columns is well underway. The construction of the base for the tower
crane is complete and the first tower section has been installed.
The SAG mills purchased by the Company in December 2006 were shipped last
month from Vancouver to the Port of San Diego. The SAG mills have been moved
from the Port of San Diego to Kingman by heavy haul trucks earlier this month.
"The delivery of the SAG mills to Kingman is a major milestone and we are
pleased to have them safely in Kingman," said Mike Surratt President & CEO.
"We are very pleased with our on site construction team and their quality and
schedule" said Surratt.
The new O&K shovel and four additional haul trucks recently purchased by
the Company were put into service this month. Pit production has increased
accordingly. The second shovel completes the loading unit requirements for the
expansion at the mine. With the addition of the four haul trucks to the
existing fleet, only two additional trucks are required for the expansion at
Mineral Park, with the last two trucks not being required until next year.
Cathode production for May was 1,056,786 pounds and was the second
highest month on record.
Mercator Minerals Ltd.
Mercator Minerals is a copper producer that owns and operates the Mineral
Park copper mine in Arizona, with a corporate strategy focused on maximizing
the production potential of the Mineral Park copper-molybdenum deposit.
Mercator, in its January 8, 2007, news release, announced positive results
from an independent technical study for the expansion of its wholly owned
Mineral Park copper mine to a 50,000 ton-per-day milling operation with
production of copper-silver and molybdenum concentrates averaging 56.4 million
pounds of copper, 10.3 million lbs of molybdenum and 0.6 million ounces of
silver per year over the first 10 years of operation in parallel with its
current SX/EW copper production. The Company has filed a technical study for
an expansion of increased copper production plus molybdenum, and silver
On Behalf of the Board of Directors
MERCATOR MINERALS LTD.
Per: "Michael L. Surratt"
Michael L. Surratt,
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 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. 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, 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.
The Toronto Stock Exchange does not accept responsibility for the
adequacy or accuracy of this press release.
For further information:
For further information: Marc LeBlanc, Corporate Secretary, Tel: (604)
981-9661, or (604) 716-5582, Fax: (604) 960-9661, Email: