NMC Resource Corporation

NMC Resource Corporation

August 25, 2011 09:00 ET

NMC Resource Announces 64% Revenue Increase to $2.7 Million in Second Quarter of 2011

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 25, 2011) - NMC Resource Corporation (TSX VENTURE:NRC) ("NMC") is a natural resource company with two molybdenum assets: NMC Moland Mine (currently in production with resource expansion potential) in South Korea and Boss Mountain Moly Mine (exploration stage) in British Columbia, Canada.

NMC's revenue for the second quarter of 2011 reached 2.7 million, up 64% from $1.7 million for the corresponding period in 2010. NMC recorded revenue of $6.5 million for the first half of 2011. During the same period, NMC earned a net income of $236,383 with adjusted EBIDTA (net earnings before interests, taxes, amortization and share-based payment) of $2.3 million, and sold 417,970 pounds of molybdenum and recorded operating cash flow of $0.07 per share.

For further detail, please see copies of the unaudited condensed consolidated interim financial statements and related notes thereto for the three and six months ended June 30, 2011, and the corresponding MD&A available on SEDAR at www.sedar.com.

NMC is listed on the TSX Venture Exchange under the symbol (NRC).

On behalf of the board of NMC RESOURCE CORPORATION

Yoo Sup Han; President and Director

Forward-Looking Statements: This news release includes certain forward-looking information and forward-looking statements (collectively "Forward-Looking Statements") concerning the future performance of the Company's business, operations and financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Specifically, this news release includes Forward-Looking Statements regarding NMC Moland Mine's resource expansion potential. Forward-Looking Statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-Looking Statements are based on the current opinions and expectations of management. All Forward-Looking Statements are inherently uncertain and subject to a variety of risks and uncertainties, including the speculative nature of mineral exploration and development generally and specifically in respect of the interpretation of the geology, continuity, grade and size of mineral deposits, unanticipated operational or technical difficulties, fluctuating commodity prices, competitive risks and the availability of financing, changes in laws or regulations, changes in the financial markets and changes in general economic conditions, as described in more detail in our recent securities filings available at www.sedar.com. Such Forward-Looking Statements are based on a number of assumptions, including but not limited to the level and volatility of the price of molybdenum, the availability of financing, the accuracy of reserve and resource estimates and the assumptions on which those estimates are based and the ability to achieve and maintain certain operational efficiencies. Should one or more risks and uncertainties materialize or should any assumptions prove incorrect, then actual events or results may differ materially from those expressed or implied in the Forward-Looking Statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these Forward-Looking Statements, except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the polices of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information

  • NMC Resource Corporation
    DH (Do Hyung) Kim
    (604) 643-1730
    (604) 642-6192 (FAX)

    Ethos Consulting
    Toll Free: 1-888-818-1365