MONTREAL, QUEBEC — (Marketwire) — 12/03/12 — Matamec Explorations Inc. („Matamec“ or the „Company“) (TSX VENTURE: MAT)(OTCQX: MHREF) announced today that it has filed its Unaudited Condensed Consolidated Financial Statements and the related Management-s Discussion and Analysis („MD&A“) for the quarter ended September 30, 2012 on the System for Electronic Document Analysis and Retrieval („SEDAR“). Copies of these documents can be found on the SEDAR website at .
„In the third quarter we reported our first net income of $5.6 million as a result of our Joint Venture Agreement with TRECan. We believe that this agreement continues to provide Matamec with a strong vote of confidence in both the potential of the Kipawa project and the management of Matamec. We have developed an excellent working relationship with TRECan and continue to work closely together with the objective of becoming a quality low-cost producer of rare earths in Canada,“ said Andre Gauthier, President and CEO of Matamec Explorations Inc.
Operational Highlights for Q3-2012:
Granting of Stock Options
At the most recent meeting, the Board of Directors decided to grant stock options to six of the Company-s directors and officers, and to one employee.
All stock options, totalling 620,000, were granted at an exercise price of $0.17 per share, for a period of five years. These options, as well as the terms and conditions of their exercise, are governed by the Company-s Stock Option Plan.
About TTC and TRECan
Established for more than 60 years and subsidiary of Toyota Motor Group, TTC is a general trading company that develops business together with over 400 consolidated group companies in Japan and overseas, with customers around the world, via a global network covering Japan and more than 60 other countries worldwide. TRECan is a subsidiary of TTC especially created for the JVA for the Kipawa HREE deposit.
About Matamec
Matamec Explorations Inc. is a junior mining exploration company whose main focus is in developing the Kipawa HREE deposit with TRECan. Following the positive conclusion of the PEA study filed on SEDAR in March 2012 and the hiring of a VP Project development and Construction, Matamec and TRECan decided to move directly to the feasibility study. The March 2012 press release highlighted that the project has robust economics such as: $606 million before-tax value (NPV8%), a 36.9% before-tax IRR, $2.8 billion revenue, $1.67 billion EBITDA, a before-tax payback period of 2.4 years, etc. (see press release dated January 30, 2012).
In parallel, the Company is exploring more than 35km of strike length in the Kipawa Alkalic Complex for rare earths-yttrium-zirconium-niobium-tantalum mineralization on its Zeus property.
The company is also exploring for gold, base metals and platinum group metals. Its gold portfolio includes the Matheson JV property located along strike and in close proximity to the Hoyle Pond Mine in the prolific mining camp of Timmins, Ontario.
In Quebec, the Company is exploring for lithium and tantalum on its Tansim property and for precious and base metals on its Sakami, Valmont and Vulcain properties. As well, it is exploring for gold together with Northern Superior Resources Inc. on the Lesperance/Wachigabau property.
„Neither 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 release.“
Contacts: Andre Gauthier President (514) 844-5252 (514) 844-0550 (FAX)
Joanna Longo (416) 238-1414 ext 233
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