NMC Resource Corporation

NMC Resource Corporation

June 28, 2011 09:00 ET

NMC Resource Records Solid Financial Results for Q1, 2011

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 28, 2011) - NMC Resource Corporation (TSX VENTURE:NRC) ("NMC Resource") released its unaudited condensed consolidated financial statements for the first quarter ended March 31, 2011. NMC Resource is pleased to report that it has significantly improved sales and net income for the first quarter of 2011. During the first quarter of 2011, NMC Resource surpassed 66% of its sales figure recorded for 2010, and resulted in a net profit of $213,922.

Highlights for the quarter ended March 31, 2011

  • Recorded sales of $3,744,031; earnings from mine operations of $452,038; net income of $213,922; and adjusted EBITDA (net earnings before interests, taxes, depreciation, amortization and share-based payment) of $1,370,314;
  • Produced 212,708 pounds of molybdenum at its NMC Moland Mine; and
  • Improved the daily throughput and mill head grade to 860 tonnes and 0.29% MoS2, respectively.

NMC Resource has been producing molybdenum from its NMC Moland Mine located in South Korea since April 2010. On March 11, 2011, NMC Resource entered into a non-binding letter of intent (the "LOI") with Xstrata Copper Canada with respect to the Boss Mountain molybdenum property located in British Columbia.

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. 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 policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information

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