Mercator May Wait for Copper Gain Before Seeking Mine Funds
This article is for subscribers only.
Mercator Minerals Ltd., an operator of an Arizona mine, may wait for copper prices to rise before securing financing to build its El Pilar project.
“There is debt available to the project today, it’s just not on terms that I think our shareholders would be enamored with,” Bruce McLeod, chief executive officer of the Vancouver-based company, said in an interview in Toronto yesterday. “The hedging component at these prices would be too high for us to consider,” he said.