MONTREAL, QUEBEC — (Marketwired) — 05/30/13 — Matamec Explorations Inc. („Matamec“ or the „Company“) (TSX VENTURE: MAT)(OTCQX: MHREF) today reported its financial results for the quarter ended March 31, 2013. All numbers are reported in Canadian dollars unless otherwise stated.
„With 85% of the bulk work associated with the Kipawa feasibility study now completed and the continued financial support demonstrated by Toyotsu, the Company is well positioned financially to achieve its goal of becoming the next global heavy rare earth producer,“ said Andre Gauthier, President and CEO of Matamec Explorations.
Financial Highlights
Kipawa JV Operational Highlights
SELECTED ANNUAL INFORMATION
The following table includes selected consolidated financial data, prepared in accordance with International Financial Reporting Standards („IFRS“), for the period ended March 31, 2013 and 2012.
2013 First Quarter Financial Results Available
The complete financial statements, notes to financial statements, and Management-s Discussion and Analysis for the first quarter ended March 31, 2013, are available on the Company-s website – . These documents are also filed on SEDAR, and will be accessible from the SEDAR website at .
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). Resources that are not mineral reserves do not have demonstrated economic viability.
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 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)
Edward Miller Director IR (514) 844-5252 ext. 205 (514) 844-0550 (FAX)
Only registered users can comment.
