August 13, 2010 / 1:08 PM / in 7 years

UPDATE 1-Mercator Minerals posts Q2 profit

* Q2 EPS $0.01 vs loss $0.04/shr last year

* Revenue rises 150 pct

Aug 13 (Reuters) - Canadian miner Mercator Minerals Ltd ML.TO posted a second-quarter profit, helped by higher copper and molybdenum sales and prices.

Vancouver-based Mercator posted a profit of $2.9 million, or 1 cent a share. That compares with net loss of $4.4 million, or 4 cents a share, last year.

Included in the results are a one-time charge of $6 million as an extraordinary item for the premium paid on the early redemption of notes issued by the company in 2007, and additional non-cash items of $10.1 million.

On an adjusted basis, the company earned $19 million in the quarter.

Revenue jumped more than two folds to $53 million.

Shares of the company, which have fallen 12 percent in the past three months, closed at C$1.81 Thursday on the Toronto Stock Exchange. (Reporting by Isheeta Sanghi in Bangalore; Editing by Maju Samuel)

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