Capital infusion gives Mercator boost
May 14, 2014 | 06:15 PM
| Saranya Kapur
NEW YORK Mercator Minerals Ltd. posted its third consecutive quarterly loss but reported improving production and throughput rates as a result of an infusion of capital from Daselina Investments Ltd., the controlling shareholder of Intergeo MMC Ltd., with which Mercator is set to merge.
Mercator so far has received $12 million in bridge loan financing from Daselina, but said Daselina had agreed May 1 to increase bridge loan funding to $16 million while awaiting review by the Russian Federal Anti-Monopoly Services. Mercator will receive another $2 million on June 1 if the deal is not completed by then.....
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