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Matamec Reports Financial Results for the Third Quarter
Published : December 03, 2012
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Keywords :   Canada | Gold | Japan | Lithium | Market | Niobium |

MONTREAL, QUEBEC--(Marketwire - Dec. 3, 2012) - Matamec Explorations Inc. ("Matamec" or the "Company") (News - Market indicators)(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 www.sedar.com.

"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:

  • The Company recorded its first net income of $5,551,900 or $0.047 per share, from a gain on disposal of the Kipawa deposit related to accounting of the Kipawa Joint Venture agreement with TRECan;

  • Completed 16,158 metres definition drilling campaign on the Kipawa HREE deposit started in early May 2012 to increase the quality of the resources and reserves;

  • Discover new HREE showings on Zeus : Certitude Nord, Makwa and Pakwa ;

  • Completed in October, a drilling campaign of 15 short holes on the PS Zone, a structure situated at two kilometers South-East of the Kipawa deposit. Results are pending;

  • From May to July 2012, SGS Minerals Service (Lakefield, Ontario) operated the mineral processing and hydrometallurgical pilot plants for the Kipawa HREE deposit;

  • A Memorandum of Understanding was signed on July 6, 2012, with the Algonquin communities of Eagle Village First Nation and Wolf Lake First Nation concerning the Zeus property, including the Kipawa HREE deposit, and a Consultation and Exploration Protocol is currently being discussed;

  • Continued regional community meetings, including harmonization roundtables and follow-up;

  • Continued work on the Definitive Feasibility Study for the Kipawa HREE deposit in which results are expected in the second quarter of 2013. The activities for the last quarter were focused on laboratory test works and optimization of the ore process flowsheet;

  • Initiated an Environmental and Social Impact Assessment for the Kipawa project by the firm Golder & Ass. Which is currently focused on data collection in the field to consolidate the baseline study and to confirm infrastructure locations for a potential mining operation;

  • On October 23, 2012, the Board of Directors nominated Mr. Raynald Vezina, as an independent director; and

  • On November 28, 2012, Mr. Marcel Bergeron as CFO and Secretary-Treasurer replacing Mr. Laval St-Gelais who held this position for more than seven years.

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."

Andre Gauthier
President
(514) 844-5252
(514) 844-0550 (FAX)
info@matamec.com
www.matamec.com
or
Joanna Longo
(416) 238-1414 ext 233
jlongo@terrepartners.com
Data and Statistics for these countries : Canada | Japan | All
Gold and Silver Prices for these countries : Canada | Japan | All

Matamec Explorations Inc.

EXPLORATION STAGE
CODE : MAT.V
ISIN : CA5765411064
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Matamec Expl. is a gold and copper development stage company based in Canada.

Matamec Expl. holds various exploration projects in Canada.

Its main exploration properties are WACHIGABAU, ZEUS PROPERTY, SAKAMI, MATHESON and LA GRANDE EST in Canada.

Matamec Expl. is listed in Canada and in United States of America. Its market capitalisation is CA$ 8.2 millions as of today (US$ 6.5 millions, € 5.6 millions).

Its stock quote reached its highest recent level on January 15, 1999 at CA$ 4.80, and its lowest recent point on February 26, 2016 at CA$ 0.02.

Matamec Expl. has 136 970 000 shares outstanding.

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Annual reports of Matamec Explorations Inc.
2008 Annual Report
Financings of Matamec Explorations Inc.
12/23/2010Has Completed a Private Placement of CAD $1,150,000
12/16/2010Has Completed a Private Placement of CAD $5,750,000
Nominations of Matamec Explorations Inc.
4/16/2013Announces Appointment of Leading Expert of Rare Earths as Di...
Financials of Matamec Explorations Inc.
5/30/2013Reports First Quarter 2013 Financial Results
12/3/2012Reports Financial Results for the Third Quarter
Project news of Matamec Explorations Inc.
4/13/2011(Kipawa Hreo-y-zr)Intersects 1.04% ZrO2 Over 73.3 Metres on its Kipawa HREO-Y-...
3/25/2011(Kipawa Hreo-y-zr)Intersects 0.73% TREO (40% HREO+Y2O3) Over 18.8 Metres on it...
2/24/2011(Kipawa Hreo-y-zr)Intersects 0.89% TREO Over 21.5 Metres on its Kipawa HREO-Y-...
2/17/2011(Kipawa Hreo-y-zr)Intersects 1.22% TREO Over 28.8 Metres on its Kipawa HREO-Y-...
2/10/2011(Kipawa Hreo-y-zr)Successfully Completes its 3,300m Definition Drilling Campai...
1/27/2011(Kipawa Hreo-y-zr)Intersects 1.45% TREO Over 21 Metres on its Kipawa HREO-Y-Zr...
1/20/2011(Zeus Property)Announces a 42% Increase in TREO Indicated Resources at its ...
Corporate news of Matamec Explorations Inc.
12/22/2015Matamec Signs an Agreement with Glencore and Goldcorp on Hoy...
12/21/2015IIROC Trading Resumption - MAT
12/21/2015Matamec Signs an Agreement with Glencore and Goldcorp on Hoy...
12/18/2015IIROC Trading Halt - MAT
8/31/2015Matamec Grants Stock Options
8/31/2015Mr. François Biron joined the Board of Directors
8/28/2015Mr. Francois Biron Joins the Board of Directors
8/28/2015Matamec Grants Stock Options
4/20/2015IIROC Trading Resumption - CJC; MAT
4/20/2015IIROC Trading Halt - MAT
3/2/2015Pierre Leblanc Joins Matamec's Board of Directors
2/21/2015Matamec Files Modified of the Annual Consolidated Financial ...
1/27/2015IIROC Trading Resumption - MAT
1/27/2015Announces the Creation of a Joint Venture with Ressources Qu...
1/27/2015Matamec Announces the Creation of a Joint Venture with Resso...
1/26/2015IIROC Trading Halt - MAT
12/23/2014Matamec Explorations Inc.: Restatement of Financial Statemen...
11/11/2014Resignation of a Director
11/7/2014Matamec Explorations Inc.: Resignation of a Director
10/3/2014IIROC Trading Resumption - MAT
10/3/2014Matamec Announces a First Investment of $1,000,000 With Ress...
10/3/2014IIROC Trading Halt - MAT
9/19/2014Mr. David Guerette Joins Matamec's Board of Directors
9/19/2014IIROC Trading Resumption - MAT
9/19/2014Matamec Gives an Update on the Investment Project of $4 Mill...
9/19/2014Matamec Signs a Termination and Release Agreement with TRECa...
9/19/2014IIROC Trading Halt - MAT
4/17/2014Mr. Christophe Romary Joined Matamec as Business Development...
4/2/2014IIROC Trading Resumption - MAT
4/2/2014Matamec Announces an Investment of $4 Million by Resources Q...
4/2/2014IIROC Trading Halt - MAT
10/30/2013Announces Upcoming Participation at Asian Conferences
10/21/2013Files NI 43-101 Technical Report for the Kipawa JV Heavy Rar...
10/9/2013Presents a Study on Local and Regional Economic Benefits of ...
9/24/2013Announces Update on Kipawa JV Heavy Rare Earth Project
8/8/2013Receives $565,769 from TRECan for Completion of Kipawa Feasi...
7/29/2013Announces Notice of Kipawa JV Feasibility Study Results Anal...
7/3/2013Announces Annual and Special Meeting Results
7/3/2013Announces Annual and Special Meeting Results
7/3/2013Announces Annual and Special Meeting Results
6/25/2013Announces Completion of Kipawa Feasibility Study Work
5/16/2013Receives $1.1 Million from Toyotsu
4/25/2013(Zeus Property)Announces the Discovery of Three New Showings on the Zeus Pr...
4/11/2013Receives $774,000 from Toyotsu
3/4/2013Kipawa Feasibility Study on Budget and on Track for Completi...
2/19/2013Toyotsu Pays $1.04 Million to Matamec for Continued Executio...
1/17/2013Appoints Director, Investor Relations and Announces Upcoming...
1/10/2013Toyotsu Pays $1.6 Million to Matamec for Continued Execution...
10/30/2012Drills Rare Earth Mineralization 2.7km South of the Kipawa D...
10/22/2012to Host an Analyst Day October 30, 2012
10/22/2012to Host an Analyst Day October 30, 2012
10/22/2012to Host an Analyst Day October 30, 2012
9/12/2012Mandated Golder and Associates to Conduct the Environmental ...
11/18/2010Positioning of Matamec's Heavy Rare Earths Kipawa Deposit
4/14/2008plans 8,000 metres for Matheson J-V
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