VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 6, 2012) - NMC Resource Corporation (TSX VENTURE:NRC) ("NMC Resource") is pleased to announce that an additional cone crusher and screen have been successfully installed in the underground crushing chamber at NMC Moland Mine ("Moland'). As a result, NMC Resource expects to increase its average daily throughput ("ADT") by 10% compared to Q2, 2012 production. The mill's daily capacity has now been increased to 1,300 tonnes per day. This capital expenditure was fully sponsored by a South Korean government agency.
NMC Resource targeted a 20% increase in ADT for this year. During Q2, 2012, ADT reached 1,109 tonnes, a 27% increase for the quarter compared to 876 tonnes for the corresponding period in 2011. In Q2, 2012, NMC Resource had already exceeded its production ramp-up target.
This continuous production increase is a part of a series of proactive corporate measures designed to allow NMC Resource to survive and grow in this uncertain market environment. With the successful production increase reached in Q2, the cash cost was reduced to US$8.36 per pound of molybdenum sold, a 9% reduction compared to Q1, 2012.
About NMC Resource Corporation
NMC Resource Corporation (TSX VENTURE:NRC) is a mining company with two molybdenum assets: NMC Moland Mine ("Moland") in South Korea and Boss Mountain Mine ("Boss Mountain") in British Columbia, Canada. Moland started commercial production in April 2010 and a new technical report was filed in December 2011 with an updated resource. An active resource expansion drill program continues at Moland. Resource expansion drilling program requiring deep drill holes has been sponsored by KORES (Korea Resources Corporation, a state-owned mining company). Boss Mountain is a past molybdenum producer. NMC Resource is currently assessing historical data from 247 drill holes completed by the last mine operator Noranda Mines Ltd.
On behalf of the board of NMC RESOURCE CORPORATION
Do Hyung Kim; 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 that NMC Resource expects to increase its average daily throughput by 10% compared to Q2, 2012. 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.
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