Mercator Minerals Acquires Creston Moly

23 June 2011 (Last Updated June 23rd, 2011 18:30)

Mercator Minerals has completed acquisition of Creston Moly Corp, for an undisclosed sum. Creston will become a wholly owned subsidiary of Mercator following the transaction, which has been approved by 99.3% of Creston's shareholders. Mercator technical advisor Michael Surra

Mercator Minerals has completed acquisition of Creston Moly Corp, for an undisclosed sum.

Creston will become a wholly owned subsidiary of Mercator following the transaction, which has been approved by 99.3% of Creston's shareholders.

Mercator technical advisor Michael Surratt said the addition of the El Creston project to Mercator's asset portfolio establishes an attractive and continuous growth pipeline for the company.

"With Mineral Park's Phase II expansion to be completed next month, the company can now turn its focus to the development of El Pilar in 2012 and then El Creston in 2013," said Surratt.

Mercator has also applied for a C$25m (US$25.6m) loan to fund development activities.