Mercator Minerals Limited Reports Production Results for the Fourth Quarter and Full Year Ended December 31, 2012; Provides Production and Capital Expenditure Guidance for the Year 2013
For 2012 production totaled 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 expects Mineral Park to produce between 93 to 102 million pounds of copper equivalent in 2013, which includes 41.5 to 46.5 million pounds of copper (38.5 to 42.5 million pounds copper in concentrates and 3.0 to 4.0 million pounds of cathode copper), 11.0 to 12.0 million pounds of molybdenum and 620,000 to 690,000 ounces of silver. The company expects 2013 cash costs of production, based on co-product accounting basis, to be $2.25 to $2.50 per pound of copper and $8.55 to $9.45 per pound of molybdenum.
Capital expenditures for 2013 are expected to be $15.0 million, of which $13.0 million is expected to be incurred at Mineral Park Mine and $2.0 million on the El Pilar project.