Unaudited Interim Results for the Six Months Ended 31 March 2010 & Update

 

Mercator Gold plc, the diversified mineral and renewable energy development company, is pleased to provide its unaudited interim results for the six month period to 31 March 2010 along with the following update on its activities.

HIGHLIGHTS

  • Significant progress achieved in line with Mercator’s strategy of situating its projects in optimal corporate vehicles to maximise their development and capital raising potential
  • Copper Flat project: definitive agreement for the sale of Mercator’s option over Copper Flat to THEMAC Resources Group signed and preliminary economic assessment (“PEA”) of the project expected to be available from SRK shortly; transaction expected to complete during August 2010
  • Warm Springs Renewable Energy Corporation: partnership entered into with Remote Energy Solutions for development of the Warm Springs solar power project in New Mexico, with potential for the construction of an initial 2MW phase of the project to commence before the end of 2010, ahead of the proposed 20MW phase
  • ACS Asia: turnover for six months to 31 March 2010 up by 70% or £1.3 million to £3.16 million and gross margin increased to 28% from 24% in comparison with six months to 31 March 2009
  • Argentina uranium projects: due diligence underway with findings to date highly encouraging
  • Paniai Gold: IPO on NSX in Australia targeted for Q4 2010
  • Silver Swan Group: outstanding exploration success sustained
  • Meekatharra gold project: fiscal uncertainty in Australia creates favourable environment for realisation of value from tax losses
  • In excess of £2 million of new capital raised by the Company during the first half of 2010

 

Click Here for the full text PDF version of the Interim Results (unaudited) for the Six Months to 31 December 2007