NMC Resource Corporation

NMC Resource Corporation

November 29, 2011 08:30 ET

NMC Resource (TSX VENTURE:NRC) Records Revenue of $9.2M for Nine Months Ending September 30, 2011

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 29, 2011) - NMC Resource Corporation (TSX VENTURE:NRC) -


  • Revenue Increases during Q3 of 2011 by 114% over Q3 of 2010
  • Recorded $2.8 million of Adjusted EBIDTA for the nine months ended September 30, 2011
  • $0.11 of operating cash flow per share for the nine months ended September 30, 2011

NMC Resource Corporation ("NMC Resource") is pleased to announce that revenue for the third quarter of 2011 reached $2.7 million up 114% from $1.3 million for the corresponding period in 2010.

NMC Resource recorded revenue of $9.2 million for the nine months ended September 30, 2011. During the same period, NMC earned a net loss of $230,338 with adjusted EBIDTA (net earnings before interests, taxes, amortization and share-based payment) of $2.8 million, and recorded operating cash flow of $0.11 per share.

Do Hyung Kim, President and Chief Executive Officer of NMC Resources, states, "We are very pleased with our operations and recent resource update at NMC Moland Mine. In this turbulent market, NMC Moland Mine's stable production gives us a strong competitive edge to be well positioned for future growth. Many new projects are under review, and we are planning an exploration work program at NMC Moland Mine as well as at Boss Mountain Mine for next year."

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

About NMC Resource Corporation

NMC Resource Corporation (TSX VENTURE:NRC) is a mining company with two molybdenum assets: NMC Moland Mine in South Korea (a producing Molybdenum mine with an increasing production profile and resource base) and Boss Mountain Mine in British Columbia, Canada. NMC Resource's assets are strategically located to supply the growing demand for Molybdenum from the Asian markets.

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 regarding NMC Moland Mine's resource expansion potential, that many new projects are under review and that NMC Resource is planning an exploration work program at NMC Moland Mine as well as at Boss Mountain Mine for next year. 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.

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