Mercator Minerals LTD, neue Moly-Rakete?
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prod. bereits 1 Mio. Pfund Kupfer im Monat!
2008 sollen höhere Mengen abgebaut werden!
Was sagt ihr?
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Wertpapier: Mercator Minerals |
Analysts at Macquarie Capital Markets reiterate their "outperform" rating on Mercator Minerals Ltd (ULH). The target price has been raised from C$11.50 to C$12.50.
In a research note published this morning, the analysts mention that the company has sold the life-of-mine silver production at its Mineral Park Mine in Arizona to Silver Wheaton for $3.90/oz. Mercator Minerals is to receive $42 million as an upfront payment, which would enable the company to accelerate the Phase 2 development and to realize budget and schedule synergies going forward, the analysts say
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Wertpapier: Mercator Minerals |
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Wertpapier: Mercator Minerals |
Posted : Mon, 05 Jan 2009 15:29:59 GMT
Author : Mercator Minerals Ltd.
VANCOUVER, Jan. 5 Mercator-Mineral-Park
TRADING SYMBOL: TSX - ML
VANCOUVER, Jan. 5 /PRNewswire-FirstCall/ - Mercator Minerals Ltd. ("Mercator") is pleased to announce that it has commenced shipping copper concentrates from its newly expanded Mineral Park Mine in Arizona, less than two years from completion of its December 29, 2006 Technical Report.
The commencement of concentrate shipments from the Mineral Park copper-molybdenum milling facility marks the completion of the construction/development phase of the project and the operations team will now focus on ramping up production to design levels. In accordance with the copper off take agreement that Mercator has with MRI Trading AG of Zug, Switzerland, the concentrates are being trucked into Mexico and delivered to the Port of Guyamas. Provisional payments are due four days after delivery of each 1,000 lot to the Port of Guyamas.
Mike Surratt, President & CEO comments, "With the successful start-up of the copper-molybdenum mill facility and the first shipment of copper concentrates, Mercator has completed the development of the first phase of its expanded Mineral Park Mine. We are now focused on maximizing the operational efficiency of the process plant." Surratt concludes, "We are very pleased with the way this major project has been developed, despite the many challenges that faced the industry during the last few months, in such a short period of time. An outstanding management team, supported by a strong group of contractors and sub-contractors, has brought this major construction project to a successful conclusion with the commencement of copper and molybdenum production."
Additionally, the Company reports that it has made the December 31 interest payment on the Secured Notes issued in 2007, on time and as required.
Mercator Minerals Ltd.
Mercator Minerals is a TSX listed mining company with only 74.8 million shares issued and an experienced management team that has brought one of the largest and most modern mining projects in North America to production in less than 2 years. Mercator management is dedicated to maximizing profits by making its Mineral Park Mine one of the lowest cost operations in the industry.
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.
For a more complete discussion, please refer to the Company's audited financial statements and MD&A for the year ended December 31, 2007 on the SEDAR website at www.sedar.com.
The Toronto Stock Exchange does not accept responsibility for the
adequacy or accuracy of this press release.
SOURCE Mercator Minerals Ltd.
[url]http://www.earthtimes.org/articles/show/...rk-mine,668106.shtml[/url]
8/26/2009 1:49:29 PM | Buzz on the Boards
Posters weigh in on rumours involving the company and a molybdenum producer
Shares of Mercator Minerals(TSX: T.ML, Stock Forum) jumped 10.6% to $2.81 with more than 10 million shares traded Wednesday, as posters weighed in on takeover rumours involving the company.
While Mercator released no news on Wednesday, an article from the National Post mentioned the company, as it noted that molybdenum producer Thompson Creek Metals (TSX: T.TCM, Stock Forum) announced a $217 million bought-deal financing on Tuesday worth $217-million with plans to use the cash for development and expansion of existing mining assets, exploration, acquisitions, working capital, and general corporate purposes.
“Good matches for the company include Mercator Minerals or a team-up with Quadra Mining on its large Sierra Gorda project in Chile,” said the article.
On the Mercator Bullboard Wednesday, Birpind1 said: “TCM has stated they are looking for an acquisition and looking for a company with copper production.”
And, intowin said: “Strong rumor today of a TCM takeover. I'll sit and enjoy the ride”
In a post entitled “Merger Talk”, bjorn3d2b posted information from the National Post article, to which knowsnothing613 replied: “whoa. no wonder the sp spiked, and is going higher. I wish I would have known this before putting in my short order. Oh well, I covered. fyi. I also think MOL might be a TCM target due to its Moly/Copper reserves, and proximity to Asian markets. Though it still requires about ~200 million in Capex, and has 150million of debt due in October. we will see how it all plays out.”
Meanwhile, early Wednesday on the Thompson Creek Metals Bullboard, bmann025 said: “taking over ML would make a lot of sense. at current copper prices and with 500 mio $ they can do what ML currently can't do : hedge the copper production and let ML earnings pay back the acquisition price in just a couple of years and then profit for decades from ML's cash machine.
http://www.stockhouse.com/Community-News/2009/Aug/26/Mercato…
- Earnings before interest, taxes, depreciation and amortization
("EBITDA")(x) for the three month period ended September 30, 2009 was
$6.82 million, surpassing the requirements under the applicable
covenant under the Note Indenture;
- Net loss for the three month period ended September 30, 2009 of
$0.69 million ($0.01 per share) compared to a net loss of
$5.64 million ($0.08 loss per share) for the corresponding period
in 2008.
- Excluding non-cash items for accretion, amortization and stock based
compensation, the Company recorded adjusted earnings(x) of
$3.58 million during the quarter ended September 30, 2009, compared
to an adjusted loss(x) of $3.14 million during the corresponding
period in 2008;
- Revenues from cathode copper and copper concentrate, sales molybdenum
and silver for the three month period ended September 30, 2009 of
$26.21 million compared to $8.89 million for the corresponding period
in 2008;
- Sales from production of 7,273,077 pounds of copper (comprised of
6,153,449 pounds of copper in concentrates and 1,119,628 pounds of
copper as cathode), 537,594 pounds of molybdenum and 34,069 ounces of
silver during quarter ended September 30, 2009. This compares to
copper production, all as cathodes, of 2,972,504 pounds in the
quarter ended September 30, 2008;
- Financing completed during the period raised gross proceeds of
$75.85 million. The Company ended the quarter with cash of
$64.84 million, a $61.83 million increase in cash on hand since
December 31, 2008, resulting in a positive working capital of
$71.68 million compared with $3.0 million in cash and cash
equivalents and a working capital deficiency of $25.35 million at
the end of fiscal 2008.
http://cxa.marketwatch.com/TSX/en/Market/...B49D4E44D990}&symb=ML
Tom Stundza -- Purchasing, 2/4/2010 11:37:40 AM EST
UBS Securities has revised upward copper price forecasts because it expects strong demand to meet supply problems in coming years. UBS now expects copper prices to average $3.80/lb this year and $3.90 in 2011. Copper cathode traded on the London Metal Exchange at $2.33/lb in 2009.
UBS previously has forecast a 2010 price of $3.30/lb so the new viewpoint is more bullish than the $3.22 projection by J.P. Morgan Securities, the $3.23 forecast from Bank of America/Merrill Lynch, the $3.25 outlook from Southern Copper of Peru, one of the world's largest copper producers, or the $2.93 projection of Germany's Commerzbank.
Chile's influential state copper think tank, Cochilco, expects the world copper average price for 2010 at $3.10/lb, followed by $3.20 in 2011.
"Copper is widely perceived as the most supply-constrained metal," UBS analysts say in a research note. "We would also tilt to the strong end of consensus on just how supply constrained copper is because our view is that the constraints on global copper supply are both cyclical and structural."
For this year, the Swiss bank expects copper demand to grow more than 10% to 19 million metric tons, leaving the copper market with a deficit of 600,000 metric tons-which it expects to rise to 800,000 metric tons in 2011.
http://mobile.purchasing.com/article/...xplosion_in_copper_prices.php
Industriemetalle
Die Lagerbestände von Aluminium und Kupfer in den Lagerhäusern der Börse Shanghai sind in der Woche zum 18. März weiter gestiegen. Mit über 394 Tsd. Tonnen bzw. mehr als 169 Tsd. Tonnen haben sowohl die Aluminium- als auch Kupfervorräte abermals neue Rekordhochs markiert. Die Kupferlager sind damit allein in der letzten Woche um 9% gestiegen. Auch an der Londoner Metallbörse LME haben die Aluminiumbestände zuletzt wieder deutlich zugelegt. Allein gestern stiegen sie um über 72 Tsd. auf 4,62 Mio. Tonnen und liegen damit nur noch marginal unter dem Mitte Januar verzeichneten Allzeithoch.
Die Kupfervorräte an der LME sind zwar von ihrem 6,5-Jahreshoch Mitte Februar mittlerweile um gut 5% gesunken, befinden sich mit knapp 523 Tsd. Tonnen jedoch nach wie vor auf einem sehr hohen Niveau. Zudem ist dieser Lagerrückgang in Relation zum zuvor erfolgten dramatischen Aufbau der Bestände zu setzen. Von ihrem Tief Mitte Juli hatten sie sich mehr als verdoppelt. Damit bleiben die Märkte stark überversorgt, so dass die sehr hohen Metallpreise immer schwieriger fundamental gerechtfertigt werden können.
Der Nickelmarkt könnte in diesem Jahr gemäß Einschätzung von Brook Hunt und CRU zum ersten Mal seit vier Jahren ein Angebotsdefizit aufweisen. Dies soll vor allem auf eine Erholung der Edelstahlbranche zurückzuführen sein, die mit knapp 70% der größte Konsument von Nickel ist. Ab dem nächsten Jahr dürfte sich der Markt aufgrund einer deutlich steigenden Nickelminenproduktion dann wieder in einen Überschuss drehen. Laut Brook Hunt soll die Minenproduktion über die nächsten 5 Jahre um 350 Tsd. Tonnen bzw. 25% ausgeweitet werden. Damit besteht auch am Nickelmarkt die Gefahr eines langfristigen signifikanten Überangebots.
http://www.rohstoff-welt.de/news/artikel.php?sid=18111
VANCOUVER, Apr 1, 2010 (Canada NewsWire via COMTEX) -- (Stated in US Dollars unless otherwise indicated)
TRADING SYMBOL: TSX - ML
VANCOUVER, April 1 /CNW/ - Mercator Minerals Ltd. has released its financial results for the year ended December 31, 2009, which are available on SEDAR and the Company's website.
"2009 was a milestone year for Mercator," stated Michael L. Surratt, President and CEO. "We completed the construction and commenced operating Phase 1 at Mineral Park, acquired a major copper project with a full feasibility study that has increased our copper reserves by 113% with only 7% share dilution, completed phase 1.5, and ended a year that saw one of the worst economic down turns in history with over $62 million in the bank. Subsequent to year end we accepted commitments from 4 major international banks for $130 million to redeem the Companies outstanding 11.5% senior secured notes. Even though the mill commenced operations in April and had a challenging start up, Mineral Park sold more than 28.8 million pounds of copper, 1.6 million pounds of moly and 150,000 oz. of silver in 2009. With increasing production, growth from Phase 2 and the development of the El Pilar project, Mercator's future looks brighter than ever."
After interest payments of $14.12 million ($13.8 million in interest paid on the 11.5% senior secured notes (the "Notes") issued by the Company in 2007) and $16.44 million in non-cash items including accretion, amortization and stock based compensation (2008 $7.68 million), the Company recorded a net loss of $17.58 million or $0.13 per share, compared with a net loss of $28.33 million ($0.38 per share) for 2008. Mercator spent $39.2 million in capital in 2009, to substantially increase copper production and to start molybdenum production at its Mineral Park Mine.
Financial Highlights for the Year ended December 31, 2009
- Sold 24.1 million pounds of copper in concentrates, 4.4 million
pounds of cathode copper, 1.6 million pounds of molybdenum in
concentrates; 150,000 ounces of silver compared to 10.6 million
pounds of cathode copper in 2008 (The Company did not produce any
copper, molybdenum or silver in concentrates in 2008);
- Revenue of $88.697 million in 2009 compared with revenue of $29.178
million in 2008
- For the year ended December 31, 2009, the Company reported a net loss
of $17.58 million ($0.13 per share) compared with a net loss of
$28.33 million ($0. 38 per share), for the corresponding period in
2008;
- Assets of $376.45 million for the year ended December 31, 2008 (2008
- $249.16 million);
- Cash and cash equivalents on hand at December 31, 2009 of $62.19
million as compared to $3.0 million for the year ended December 31,
2008, and working capital of $40.95 million at December 31, 2009 as
compared to a working capital deficit of $25.35 million, for the
corresponding period in 2008;
- Subsequent to December 31, 2009, the Company accepted commitments
from a group of lenders for credit facilities totaling $130 million.
The facilities are comprised of a $100 million term loan with a one
year grace period and a five year amortization and a $30 million
revolving credit facility repayable on the fourth anniversary,
subject to an annual extension option at the lenders' discretion and
will be secured by the assets of Mineral Park Inc., a guarantee
provided by Mineral Park Holdings Ltd. and subject to completion of
loan and security documentation and customary conditions precedent to
closing. Upon closing, the proceeds will be used to redeem the
outstanding Notes.
- Subsequent to December 31, 2009, in respect of the Notes, it was
determined that the Company's earnings before interest, taxes,
depreciation and amortization (EBITDA), which included the non cash
charges for stock based compensation as an expense, exceeded the
interest expenses for the Notes for the quarter ended December 31,
2009. Accordingly, the Company has reclassified $30 million of the
Notes as a current liability as at December 31, 2009, representing a
pre-payment obligation to the Noteholders due in respect of that
quarter. The Company intends to use the credit facilities, when
closed, to fund the pre-payment obligation or replace any cash on
hand used to fund the pre-payment obligation..."
http://cxa.marketwatch.com/TSX/en/Market/...10A48F0D533B}&symb=ML
- Revenues from copper, moly and silver sales for the three month period
ended March 31, 2010 of $23.88 million compared to $6.34 million for
the corresponding period in 2009;
- Production of 5,432,225 pounds of copper in concentrates (2009 -
2,306,308 pounds), 638,512 pounds of molybdenum in concentrates (2009
- 94,094 pounds), 64,952 ounces of silver (2009 - 12,240 ounces) and
777,410 pounds of cathode copper (2009 - 1,175,128 pounds);
- Net loss for the three month period ended March 31, 2010 of $11.55
million compared to a net loss of $10.65 million for the corresponding
period in 2009.
- Estimated cash operating cost* on first quarter 2010 production of
$2.67 for copper and $12.88 for molybdenum, also on a co-product
basis;"
http://cxa.marketwatch.com/TSX/en/Market/...7E715A884EBF}&symb=ML
Company Name: Mercator Minerals Ltd.
Last Updated: July 9, 2010
Date: 07/09/2010
Symbol: ML
Insider Buys Volume: 297,300
Insider Sells Volume: 0
Insider Buys Value $: 475,680.00
Insider Sells Value $: 0.00
Insider Buys Transaction: 1
Insider Sells Transaction: 0
Currency: CAD
http://www.tmxmoney.com/...ubmit&QuerySymbol=ml&x=55&y=10
- Acquisition in the public market 7,500
Jun 04/10 May 27/10 LeBlanc, Marc Indirect Ownership Common Shares 10
- Acquisition in the public market 15,000 $1.700
http://www.canadianinsider.com/coReport/allTransactions.php?ticker=ml
http://af.reuters.com/article/metalsNews/idAFTOE66P00420100726