NMC Resource Corporation

NMC Resource Corporation

March 15, 2011 21:36 ET

NMC Resource Announces Results for the Year Ended December 31, 2010

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 15, 2011) - NMC Resource Corporation (TSX VENTURE:NRC) ("NMC Resource") - NMC Resource is pleased to announce:

  • positive earnings from mine operations for the financial year ended December 31, 2010;
  • positive adjusted EBITDA for the financial year ended December 31, 2010; and
  • growing sales forecast for the first quarter of 2011.

NMC has been producing molybdenum at its NMC Moland Mine in South Korea since April 2010, making $677,638 as earnings from mine operations and recording $1,260,512 in adjusted EBITDA defined as net earnings before interests, taxes, depreciation, amortization and stock-based compensation. NMC Resource produced 622,446 pounds of molybdenum for the first three quarters of production in 2010 and stockpiled 233,321 pounds, expecting molybdenum price to rise. The net loss for the financial year ended December 31, 2010 was $1,471,893.

NMC Resource expects sales for the first quarter of 2011 to improve substantially:

"Our sales for the first quarter of 2011 have already surpassed US$3.2 million. Over US$17 dollars per pound of moly is a good price for our company, and our production ramp-up plan is under review," says DH Kim, Vice President and director of NMC Resource.

NMC Resource further announces that it has terminated its engagement with Mr. Louis Morin as investor relations activities service provider for NMC Resource effective today. NMC Resource wishes to thank Mr. Morin for his efforts on behalf of NMC Resource.


Per: "Yoo Sup Han"
Yoo Sup Han; President, Chief Executive Officer 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 growing sales forecast for the first quarter of 2011, expected rise in molybdenum price and expected and substantial improvement in sales for the first quarter of 2011. 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)