Financial Statements and Management Discussion & Analysis (MD&A)
This news release is prepared as at March 20, 2013 and should be read in conjunction with the MD&A and Financial Statements for the year ended December 31, 2012. These documents have been posted on Mercator's website (www.mercatorminerals.com/s/FinancialStatements.asp) and on SEDAR (www.sedar.com) under the Company's profile.
(i) Alternative Performance Measures
This press release refers to "cash costs", "adjusted net income (loss)" and "operating profit before the El Creston asset impairment charge" which are not performance measures recognized as having a standardized meaning under IFRS. The Company discloses these performance measures, which have been derived from the financial statements on a consistent basis, because the Company believes they are of assistance in understanding the results of Mercator's operations and financial position, and are meant to provide further information about the Company's financial results to the investors. These performance measures may not be comparable to similar data presented by other mining companies. This information should not be considered in isolation or as a substitute for measure of performance prepared in accordance with IFRS. Readers should refer to "Alternative Performance Measures" section on page 36 of the MD&A for additional information.
(ii) Copper equivalent production
All references to copper equivalent production for 2012 and 2011 is calculated using a molybdenum/copper ratio of 4.53, based on the Company's beginning of year estimated 2012 metals prices, including adjustments for copper hedging. All references to copper equivalent production for 2013 is calculated using a molybdenum/copper ratio of 4.65, based on the Company's beginning of year estimated 2013 metals prices, including adjustments for copper hedging.
Mercator's senior management will hold a conference call and a live audio webcast on March 21, 2013 at 8:30 a.m. Pacific time to discuss results for the fourth quarter and year-ended 2012. To participate in the call, dial 877-240-9772 (North America) and 800-2787-2090 (International). To listen to the live webcast, visit www.gowebcasting.com/4195. A presentation will accompany the call and will be available on the company's website under investor relations, presentations.
An archived recording of the conference call will be available for playback after the event until April 4, 2013 by dialling 1-800-408-3053 (North America), 905-694-9451 (local) and 800-3366-3052 (overseas) with conference passcode 2945338#.
Quality Assurance/Quality Control
The Technical Information contained in this news release of has been prepared under the supervision of, and its disclosure has been reviewed by the following who are deemed to be Qualified Persons under NI 43-101: Gary Simmerman, BSC, Mining Eng., FAusIMM, Mercator's Vice President, Mineral Park Mine, and Mike Broch, BSC Geology, MSC Economic Geology, FAusIMM, the Company's Vice-President, Exploration and Evaluations.
About Mercator Minerals Ltd.
Mercator Minerals Ltd., a TSX listed Canadian mining company with the potential to have one of the fastest growing base metal profiles in its peer group, is a copper, molybdenum and silver producer with a diversified portfolio of high quality assets in the USA and Mexico. Mercator provides investors exposure to current copper, molybdenum and silver production from the large tonnage long life Mineral Park Mine in Arizona, as well as mid-term exposure to potential copper production from its El Pilar deposit in the State of Sonora in northern Mexico and longer term exposure of molybdenum and copper through the potential development of the El Creston deposit also in the State of Sonora in northern Mexico.
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