Mercator Minerals Ltd. (ML.TO) Buy, Sell or…

Mercator Minerals Ltd. (ML.TO)

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BUY

Copper/molybdenum producer in Arizona. Currently undergoing an expansion to increase the volumes in both commodities over the next few years.

COMMENT

Molybdenum and copper. Doesn't own common stock but has a position in the US$ note which is the chicken way to own it. This is a 11.5% note trading around par (ML.NT.U-T). There are some restrictive covenants on this note and if they do call the note in (because of higher molybdenum prices) they could pay accrued interest + $105.

BUY ON WEAKNESS

Copper producer with a significant amount of molybdenum. Sold his holdings when it started to get overbought about 6 weeks ago. We are coming to the end of the seasonal period for copper. If it pulled back 25%-30% he would start buying again. On a longer-term perspective they have a great production profile.

PARTIAL BUY

Chart shows a nice formation. 3 significant increases in the last 3 months. Pulled back at the halfway point each time, which is quite healthy. You could take a small position. If it goes down to $1.40 it will go down to $1. If it reaches $2.60, take some profits. Good volume.

BUY

Like it. It will move further. Pushed down fairly low because they were working off inventories.

BUY

Copper/molybdenum in the US. Great long-term play. For a stock like this, would recommend a 2% weighting in your portfolio.

BUY ON WEAKNESS

Copper producer. Didn't sell off the way most companies have, which should tell you something. Also have very good molybdenum properties.

COMMENT

Essentially a copper and molybdenum play in North America. He bought a speculative 1% position for all his accounts. If it hits $10.50, he'll probably sell. If you are a trader and nimble, you could buy some here but with the base metal outlook you may want to be cautious.

SELL

Looked at it. A lot of their properties were over seas, it was too risky for them. (Wrong decision). Suggests taking half of it off the table and ride the rest of it.

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Mercator Minerals Ltd. (ML.TO)