Proactive investorsLogo Proactive Investors UK Website

Search field
Get Adobe Flash Player Download
Flash
Player ►

And
Enable
Javascript

1 year chart

digital-look imported chart image

1 day chart

digital-look imported chart image
Additional information
Additional Information
Market: AIM
Sector: Gold Mining
Epic: MCR
News: Latest news
Web Site: Mercator Gold plc
Other Articles: 02-03-201019-02-201012-01-2010

RSS - Subscribe to the News Today on Proactive UK ▼

Thursday March 18, 08:01SmartFocus, Amphion Innovations and National Milk Records confirmed for March 18 Forum

The presentations will start at 6:00pm and finish at approx 7:30pm. After the presentations are complete the directors will also be available to take questions during a free canapé and wine reception.

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive NA ▼

Thursday March 18, 01:14Cisco remains at the forefront of internet infrastructure

The stock has recently managed to breakout above the long term resistance found at the $25 level which should now provide support for any pullback before the share price drives higher

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive CN ▼

Monday March 15, 08:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

FULL ARTICLE ►
Mercator Gold plc

Mercator Gold plc

Mercator Gold plc is a diversified mining investment company with quality assets and the capability to undertake significant, value accretive transactions. Mercator is dedicated to creating value for its shareholders through a process of finding value, adding value and realising value. In order to achieve this, Mercator is able to access a pipeline of projects sourced from its global network and utilises the expertise of its directors and advisers.

Mercator holds an exclusive option over the Copper Flat project, a porphyry copper-molybdenum-gold-silver deposit in the Las Animas mining district of New Mexico, United States and a former producing mine. It is believed that the Copper Flat project, which has significant infrastructure in place, could be brought back into production within a relatively short timeframe for a relatively low capital outlay.

CLICK HERE FOR FULL ANALYSIS OF MERCATOR GOLD PLC
Tuesday, February 26, 2008

Mercator Gold releases gold production guidance

Mercator Gold ( AIM: MCR ) said it expected to produce approximately 200,000 ounces of gold from the Surprise and Bluebird open pits at its Meekatharra Gold Project in Australia over a 21 month period from January 2008 to September 2009. The production forecast was slightly below previous guidance of 120,000 ounces annually, but still confirmed Mercator as one of London's newest mid-tier gold producers.

Mercator added that is had experienced "upward pressure" on its costs, like the rest of the mining industry. Of particular note, the cost of diesel increased 20%. As a result, Mercator confirmed that it had revised its life of mine cash costs for production to US$518 per ounce, but this could fall to US$481/ounce if production is increased from the Surprise pit, as it is located closest to the plant. The company also restated its flexibility in mixing different ores and the effect that would have on head grades gave it flexibility to adjust to a varying gold price.

As a precaution, the company also sold calls over 35,000 ounces of gold at A$906 per ounce for delivery between February and September and puts at a similar price for a further 35,000 ounces.

On the exploration front, the Euro Project, Fenian West and Paddy's Flat all continued to receive the attention of the drill bit.


Managing Director, Patrick Harford, said:

"Our Meekatharra operation is up and running. We look forward to strong production from our open cut operations and will soon start the development of our underground reserves. Exploration at the very soft oxide Euro Project continues to be promising. Further work there and on the deeper high grade zones at Paddy's Flat should strengthen the Company's resource base over the coming months."

AddThis Feed Button
Register here to be notified of Proactiveinvestors One2One Forums.

Other Mercator Gold plc articles


Other Mercator Gold plc news

More news ►

Investors interested in Mercator Gold plc recently viewed


No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.