Miner starts shipping copper concentrates from Arizona
Shares of Mercator Minerals (TSX: T.ML, Stock Forum) climbed 32.7% to 73 cents Monday, as the company announced that it has started shipping copper concentrates from its Mineral Park Mine in Arizona.
The miner says the start of concentrate shipments from the Mineral Park copper-molybdenum milling facility marks the completion of the construction/development phase of the project and notes that its “operations team will now focus on ramping up production to design levels.”
"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," said Mike Surratt, the company’s president and CEO.
On the Mercator Bullboard Monday, 50centdollars said: “…Looks like moly has stabilized in the $10/lb range, and copper is now above $1.4/lb. If both prices stay in those ranges, ML should survive and eventually prosper[sic].”
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