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NRC Nations Royalty Corporation

0.85
0.00 (0.00%)
Last Updated: 14:28:35
Delayed by 15 minutes
Share Name Share Symbol Market Type
Nations Royalty Corporation TSXV:NRC TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.85 0.85 0.87 0 14:28:35

NMC Resource (TSX VENTURE:NRC) Announces Financial Results for Six Months Ended June 30, 2012

22/08/2012 5:20pm

Marketwired Canada


NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE TO US NEWS WIRE SERVICES

NMC Resource Corporation (TSX VENTURE:NRC) ("NMC Resource") released its
unaudited condensed consolidated interim financial statements for the six months
ended June 30, 2012.


HIGHLIGHTS (for the six months ended June 30, 2012)



--  Recorded $5,095,379 in sales revenue 
--  Recorded $1,530,751 in EBITDA(1) at NMC Moland Mine ("Moland") and
    $1,154,182 in adjusted EBITDA(2) 
--  Reduced cash cost to $8.36 per pound of molybdenum sold during the
    second quarter of 2012



NMC Resource recorded $5,095,379 in sales revenue for the six months ended June
30, 2012, compared to $6,466,870 recorded for the corresponding period in 2011.
The decrease is mainly due to lower molybdenum market price. In the first half
of 2012, the average molybdenum market price was US$14.00 compared to US$16.97
for the corresponding period in 2011. While maintaining positive operating cash
flow, NMC Resource is stockpiling more product for better market environment.


Increased production / Reduced cash cost / Ready for market recovery 

NMC Resource has focused on cash cost control and efficient production as
proactive corporate measures in this time of market uncertainty. As a key
proactive action, NMC Resource increased the production since April 2012. During
the second quarter of 2012, the average daily throughput reached 1,109 tonnes, a
27% increase compared to 876 tonnes recorded for 2011. This production increase
positively affected the cash cost per pound of molybdenum sold(3) and the Q2
cash cost was reduced by 9% from Q1 of 2012, recording at $8.36. NMC Resource
will continue to work on reducing cash cost. Further production increase is also
being implemented.




---------------------------------------------------------------------------
---------------------------------------------------------------------------
                                 Three months ended        Six months ended
                           ------------------------------------------------
                                June 30,    June 30,    June 30,    June 30,
                                   2012        2011        2012        2011
---------------------------------------------------------------------------
                                                                           
Revenue                     $ 2,456,538 $ 2,722,839 $ 5,095,379 $ 6,466,870
Earnings from mine                                                         
operations                      204,838     245,050     212,831     697,088
EBITDA(2) at Moland             846,326   1,082,454   1,530,751   2,607,425
Net income (loss) for the                                                  
period                        (158,084)      22,461   (762,215)     236,383
---------------------------------------------------------------------------
                                                                           
Mined/Produced Ore (tonnes)      83,210      68,489     145,613     131,314
Mill Head Grade (% MoS2)           0.26        0.27        0.29        0.28
Recovery (%)                         88          89          88          89
Molybdenum concentrate                                                     
produced (dmt MoS2)                 199         167         371         332
Average Daily Throughput                                                   
(tonnes)                          1,109         890         971         875
---------------------------------------------------------------------------
                                                                           
Molybdenum sold (lbs Mo)        189,355     178,600     398,160     417,970
---------------------------------------------------------------------------
---------------------------------------------------------------------------



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, 2012, and the corresponding MD&A available on SEDAR at
www.sedar.com.




(1) EBITDA: Net earnings before interest, taxes, depreciation and
    amortization
(2) Adjusted EBITDA: Net earnings before interest, taxes, depreciation,
    amortization and share-based payment
(3) Cash cost per pound of molybdenum sold: operating expenses in USD
    divided by the amount of molybdenum sold



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 will continue to work to
reduce cash cost and that further production increased will be implemented.
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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