NMC Resource (TSX VENTURE:NRC) is on Track for Additional Production Increase at Moland Mine
06 9월 2012 - 9:30PM
Marketwired Canada
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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