TRADING SYMBOL: TSX - ML
KINGMAN, AZ, April 11 /CNW/ - Mercator Minerals Ltd. (ML: TSX) is pleased
to announce that the construction of its 50,000 ton per day copper-molybdenum
concentrator is proceeding on schedule for a projected start up in the second
quarter of 2008. To date the sub excavation and structural backfill of the
grinding area has been completed. The primary contractor (Schmueser &
Associates, Inc. of Rifle, Colorado) has mobilized and has commenced concrete
rebar tying and forming on the grinding bay area. Piling and rebar materials
and equipment are arriving on site daily. The primary crusher has been
purchased and the float cells for the molybdenum flotation circuit have also
In the pit, significant molybdenum ore has been encountered and the
material is being stockpiled for processing at the mill start up. "We are
currently concentrating on the leachable copper for our SX/EW production,
however when we encounter substantial molybdenum ore we stockpile it for
processing and mill feed on the commencement of the concentrator mill
operation," said Mike Surratt, President and CEO.
Separately, the Company also announced that Gary Simmerman has joined the
Company as VP of Engineering, effective immediately. Mr. Simmerman's
appointment enriches Mercator's already impressive management team which will
serve the Company in its next phase of construction, expansion and growth.
Prior to joining the Company, Gary was the COO of Frontera Copper Corporation
and was responsible for their Mexico operation. Gary has over 30 years of
underground and open pit experience primarily in the southwest United States.
Gary is a mining engineer and was born and raised in Bagdad, Arizona. Gary
holds a BSc (Engineering) from the University of Arizona.
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. The
Company has filed a technical report for an expansion of copper production
plus molybdenum and silver production.
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: