UPDATE: Mercator Minerals Up 3% As Achieves Record Production for 2012; Provides 2013 Guidance
Mercator Minerals Ltd. (ML.TO) said production for 2012 totaled a record 87.5 million pounds of copper equivalent, which consisted of 40.9 million pounds of copper in concentrates and cathode copper, 10.3 million pounds of molybdenum and 677,500 ounces of silver.
The company also expects capital expenditures for the year 2013 to be $15 million, of which $13 million is expected to be incurred at Mineral Park Mine and $2 million on the El Pilar project. It expects Mineral Park to produce between 93 to 102 million pounds of copper equivalent in 2013.
ML went up by 3% to 63 cents, trading near the lower end of 52-week range $0.37-$2.
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