Mercator Reports Construction Update and Appointment of VP Engineering
Wednesday April 11, 8:15 am ET
biz.yahoo.com
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 been purchased.
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,
President
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
Marc LeBlanc, Corporate Secretary, Tel: (604) 981-9661 or (604) 716-5582, Fax: (604) 960-9661, Email: mleblanc@mercatorminerals.com
Source: Mercator Minerals, Ltd. |
