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This web site is the official site of Mercator Minerals Ltd. and its subsidiary companies (the "Company" or "Mercator"). The information provided on this web site is provided solely for the reader's general knowledge. The information is not intended to be a comprehensive review of all matters and developments concerning the Company, and the Company assumes no responsibility for the completeness, accuracy and currency of the information. All quotes are provided by servers maintained by individuals or organizations other than Mercator. The Company makes no representation or warranty regarding the accuracy, timeliness, suitability or any other aspect of the information located on such servers and neither monitors or endorses such servers or their content. This web site and the information contained herein do not constitute an offer or the solicitation of an offer for the purchase of any securities of Mercator. The information on this web site is not intended in any way to qualify, modify or supplement any prospectus or other information disclosed under the corporate and securities legislation of any jurisdiction applicable to the Company. No securities commission or similar authority in Canada or the United States of America has in any way passed on any of the information contained on this web site.Cautionary Statements
Except for the statements of historical fact contained herein, certain of the information presented constitutes "forward looking information" or "forward-looking statements" (collectively "Forward Looking Information") within the meaning of applicable Canadian securities legislation and United States Private Securities Litigation Reform Act of 1995.. Such Forward Looking Information are not historical facts, and indicate our expectations, and include without limitation, statements regarding discussions of the Company's business strategy, future plans, projections, objectives, estimates and 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, mine development, mine operations, mine and power costs, estimating grade levels, future recovery levels, future production levels, capital costs, costs savings, cash and total costs of production, projected mine life, completion dates for the development of the Company's project, future copper and molybdenum prices (including the long-term estimated prices used in calculating the Company's mineral reserves), end-use demand for copper and molybdenum, potential mineralization, and possible extensions of zones., In addition, estimates of mineral reserves and mineral resources may constitute forward looking statements to the extent they involve estimates of the mineralization that will be encountered if a property is developed. 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, certain transactions, certain approvals, 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.Additional factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, among other factors: (1) weak commodity prices and general metal price volatility; (2) the state of the global economy and economic and political events, including the deterioration of the global capital markets, affecting metal supply and demand and economic and political events affecting metal supply and demand; (3) securing and the nature of regulatory permits and approvals and the costs of complying with environmental, health and safety laws and regulations; (4) the ongoing availability and cost of operational inputs including expertise, labor, reagents, water, power and equipment; (5) fluctuations in ore grade, operating costs or ore tons milled; (6) geological, technical, mining or processing problems; (7) fluctuations in foreign currency exchange rates, particularly the Canadian dollar/U.S. dollar and Mexican Peso/US dollar exchange rates (8) the Company's dependence on third parties for smelting and refining its metals; (9) the advice the Company has received from its consultants and advisors relating to matters such as mineral resource and mineral reserve estimates, metallurgy, permitting and environmental matters is reliable and correct and, in particular, that the models, dilution strategies and mining recovery estimates used to calculate mineral resources and mineral reserves are appropriate and accurate; (10) risks involved in current or future litigation or regulatory proceedings and (11) future changes that may occur in the life-of-mine plan and/or the ultimate pit design. The Company cannot assure you that any of these assumptions will prove to be correct.
The words "expect," "anticipate," "estimate," "may," "will," "should," "intend," "believe," "target," "budget," "plan," "projection" and similar expressions are intended to identify forward-looking statements. Information concerning mineral reserve and mineral resource estimates also may be considered forward-looking statements, as such information constitutes a prediction of what mineralization might be found to be present during operations or if and when an undeveloped project is actually developed.
These factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking statements. The Company believes that the expectations reflected in the forward-looking statements, including future-oriented financial information, contained in this Website and the documents incorporated by reference are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, including future-oriented financial information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. The Company undertakes no obligation to disclose publicly any future revisions to forward-looking statements, including future-oriented financial information, to reflect events or circumstances after the date of this MD&A or to reflect the occurrence of unanticipated events, except as expressly required by law. Additionally, the forward-looking statements, including future-oriented financial information, contained herein are presented solely for the purpose of conveying our reasonable belief of the direction of the Company and may not be appropriate for other purposes.
These risks are described in more detail in the Company's most recent Annual Information Form and audited financial statements and Management Discussion and Analysis for the most recently completed fiscal year, as filed with the applicable securities regulatory agencies. The Company does not assume the obligation to revise or update these forward-looking statements 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 most recently completed fiscal year on the SEDAR website at www.sedar.com. Accordingly, readers should not place undue reliance on forward-looking statements.
*National Instrument 43-101 "Standards of Disclosure for Mineral Projects
All reserve and resource estimates referred to herein have been calculated in accordance with the Canadian Securities Administrators' National Instrument 43-101 "Standards of Disclosure for Mineral Projects" ("NI 43-101") and the Canadian Institute of Mining and Metallurgy ("CIM") definition standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended, and incorporate economics and confidence level in reporting information. The terms "mineral reserve", "probable mineral reserve" and "proven mineral reserve" "mineral resource", "measured mineral resource", "indicated mineral resource", and "inferred mineral resource" used herein are Canadian mining terms, defined in accordance with NI 43-101 in accordance with the guidelines set out in the CIM standards. These definitions differ from the definitions in the United States Securities and Exchange Commission (the "SEC") Industry Guide 7 under the United States Securities Act of 1933, as amended (the "Securities Act"). Under SEC Industry Guide 7 standards, a "final" or "bankable" feasibility study is required to report reserves, the three-year historical average price is used in any reserve or cash flow analysis to designate reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority. In addition, the terms "mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" are defined in and required to be disclosed by NI 43 101; however, these terms are not defined terms under SEC Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the SEC. Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource exists or is economically or legally mineable. Disclosure of "contained ounces" in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC Industry Guide 7 standards as in place tonnage and grade without reference to unit measures. "Indicated mineral resource" and "inferred mineral resource" have a great amount of uncertainty as to their existence and a great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an "indicated mineral resource" or "inferred mineral resource" will ever be upgraded to a higher category. Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. Accordingly, information contained in this press release contain descriptions of the Company's mineral deposits that may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder. These terms are not defined in accordance with United States standards and may not generally be used in documents filed with the SEC by U.S companies. The CIM standards differ significantly from the requirements of the SEC, and descriptions of mineralisation and resource information reported herein may not be comparable to similar information reported by U.S companies.The Company's mineral reserves and mineral resources for the Mineral Park Mine were reviewed by Eric Olsen, MAusIMM, a mining engineer and an independent mining consultant, and a Qualified Person as defined by NI 43-101. Gary Simmerman, BSc, Mercator's VP Mineral Park Mine, a Qualified Person as defined by NI 43-101, supervised the preparation of and verified and approved the technical information contained in this website in respect of the Mineral Park Mine.
The Company's mineral reserves and mineral resources for the El Pilar property were reviewed and calculated by Mike Hester, FAus,IMM, a mining engineer and an independent mining consultant, and a Qualified Person as defined by NI 43-101. Mike Broch, BSc, Geology, MSc Economic Geology, FAusIMM, the Company's VP Exploration, a Qualified Person as defined by NI 43-101, supervised the preparation of and verified and approved the technical information contained in this website in respect of the El Pilar Project.
The Company's mineral resources for the El Creston project were reviewed and calculated by Gilles Arseneau, PhD, P.Geo, a Qualified Person for the purposes of NI 43-101. Mike Makarenko, P. Eng. of JDS Energy & Mining, an Independent Qualified Person, is responsible for the conceptual optimized pit Resource calculations. The mineral resource estimates for the Molybrook property was completed by Kirkham Geosystems Ltd under the supervision of Gath Kirkham, an independent qualified person as defined by NI 43-101. The mineral resource estimate for the Ajax property was completed by Gary Giroux, P.Eng. an independent qualified person as defined by NI 43-101. Dave Visagie, P. Geo, the Company's Exploration Manager, a Qualified Person as defined by NI 43-101, supervised the preparation of and verified and approved the technical information in respect of the El Creston project, the Molybrook property and the Ajax property contained on this website.
