Mercator Minerals Q3 Copper Output Misses Own View

Reuters reported that Mercator Minerals (TSX:ML) announced that quarterly copper production from the Mineral Park mine in Arizona came in below its expectations, sending its shares down 12 percent.

As quoted in the market news:

Shares of the mining company were trading down 10 percent at C$1.21 on Tuesday morning on the Toronto Stock Exchange. Earlier in the session, they had touched a low of C$1.19. Vancouver-based Mercator said July-September copper production totaled 10.5 million pounds, below its forecast of 12 million pounds.

Mercator, which completed a second phase of expansion at the mine, said it aims to sustain production levels of at least 50,000 tonnes a day for the fourth quarter.

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