07.09
In Q2, Mercator shipped 7.8MM lbs Cu in concentrate, 1.2MM lbs Cu of
cathode, 418,987 lbs Mo and 56,441 oz Ag. Copper and moly recoveries
were 72% and 42% respectively prior to modifications that improved these
to 77% and 69% and were completed at the beginning of June.
Mineral park mined 1.84MM tons of mill ore, 698 thousand tons of leach ore
at a strip ratio of 0.43:1. The mill processed 1.79MM tons over the quarter
with head grades of 0.275% Cu and 0.026% Mo. This implies the mill ran at
about 20,000 tons per day with an availability of 88.8%.
While metallurgical improvements have increased recoveries for Cu and Mo
to 77% and 69% respectively, they are still well below designed rates. The
good news is that the company is in much better shape now and should
only need to tweak the system going forward.
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