Chart usGOLD   Chart usSILVER  
 
Food for thought
The man who produces while others dispose of his product is a slave
Ayn Rand  
Search for :
LATEST NEWS  :
MINING STOCKS  :
Subscribe
Write Us
Add to Google
Search on Ebay :
PRECIOUS METALS (US $)
Gold 1230.900.34
Silver 17.17-0.02
Platinum 1243.50-2.00
Palladium 776.00-2.75
WORLD MARKETS
DOWJONES 16805128
NASDAQ 448431
NIKKEI 15292153
ASX 539929
CAC 40 4129-29
DAX 8988-60
HUI 184-1
XAU 760
CURRENCIES (€)
AUS $ 1.4416
CAN $ 1.4227
US $ 1.2669
GBP (£) 0.7875
Sw Fr 1.2059
YEN 137.0400
CURRENCIES ($)
AUS $ 1.1382
CAN $ 1.1230
Euro 0.7893
GBP (£) 0.6217
Sw Fr 0.9518
YEN 108.1000
RATIOS & INDEXES
Gold / Silver71.69
Gold / Oil15.17
Dowjones / Gold13.65
COMMODITIES
Copper 3.060.01
WTI Oil 81.14-0.61
Nat. Gas 3.60-0.02
Market Indices
Metal Prices
RSS
Precious Metals
Graph Generator
Statistics by Country
Statistics by Metals
Advertise on 24hGold
Projects on Google Earth
Matamec Reports 2012 Year End Financial Results
Published : May 02, 2013
( 0 vote, 0/5 ) Print article
     
Tweet
Keywords :   Aura Minerals | Etc | Global | Gold | Lithium | Metals X | Niobium |

MONTREAL, QUEBEC--(Marketwired - May 2, 2013) - Matamec Explorations Inc. ("Matamec" or the "Company") (News - Market indicators)(OTCQX:MHREF) today reported its financial results for the fourth quarter and year ended December 31, 2012. All numbers are reported in Canadian dollars unless otherwise stated.

"2012 was an important year in Matamec's history with the signing of the joint venture agreement with Toyotsu for the Kipawa deposit," said Andre Gauthier, President and CEO of Matamec Explorations. "With 80% of 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." 

Financial Highlights

  • Net loss of $122,638 or ($0.001 per share) in 2012 compared to net loss of $900,019 or ($0.008 per share) in 2011

  • Working capital of $4.3 million including cash and cash equivalents of $1.59 million (working capital includes $3.64 million in tax credits receivable on December 31, 2012)

  • Current assets totalled $5.99 million in 2012 compared to $4.93 million in 2011

  • Received as of April 23, 2013 from Toyotsu, $5.84 million of the $7.5 million or $14.3 million of the maximum $16.0 million for the completion of a definitive feasibility study on the Kipawa deposit

  • Matamec to receive reimbursed tax credits for qualifying exploration expenses associated with the JV agreement with Toyotsu for the Kipawa deposit in the amount of $3.2 million approximately (2013: $2.0 million and 2014: $1.2 million)

Kipawa Operational Highlights

  • 80% completion of the feasibility study by independent engineering firms Roche and Genivar - results expected at the end of the second quarter

  • Feasibility study activities last quarter focussed on laboratory test works to optimize the ore process flow diagrams and the process equipment sizing. The engineering firms worked on OPEX and CAPEX in order to pursue the feasibility study

  • Completion of the first mineral processing and hydrometallurgical first pilot plants in the summer of 2012 at SGS Minerals Service in Lakefield, Ontario

  • Development of the final purification process to produce a high purity rare earth product acceptable by end-users

  • An MOU 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 deposit, and a Consultation and Exploration Protocol is currently being discussed

  • An Environmental and Social Impact Assessment initiated in May 2012 by the firm Golder Associates. Last summer was mainly dedicated to data collection in the field to consolidate the baseline study and to confirm infrastructure locations for a potential mining operation

SELECTED ANNUAL INFORMATION

The following table includes selected consolidated financial data, prepared in accordance with International Financial Reporting Standards ("IFRS"), for the years 2012 and 2011.

         
  Fourth Quarter   Years end  
  Results as
of December
31, 2012
  Results as
of December
31, 2011
  Results as
of December
31, 2012
  Results as
of December
31, 2011
  Results as
of December
31, 2010
 
  $   $   $   $   $  
Others income                    
Interest income 11,219   17,357   41,097   59,531   2,997  
Gain (loss) on disposal of property
(345,916
)
-
 
3,982,372
 
-
 
-
 
Expenses                    
Administrative expenses
(1,054,973
)
(477,225
)
(2,446,625
)
(1,640,115
)
(1,787,545
)
Stock-based compensation
(141,300
)
(38,723
)
(588,927
)
(426,343
)
(305,786
)
Income tax expenses (recovery)
(603,827
)
(812,875
)
1,106,173
 
(1,108,166
)
(344,317
)
Net loss (929,478 ) (417,495 ) (122,638 ) (900,019 ) (1,824,593 )
Basic and diluted net loss per share
(0.007
)
(0.003
)
(0.001
)
(0.008
)
(0.020
)
                     
                     
Statements of Financial Position December 31,
2012
December 31,
2011
December 31,
2010
  $ $ $
Total assets 20,445,042 16,187,317 16,674,351
Cash and cash equivalents 1,592,282 3,104,058 5,900,138
Equity 15,910,692 15,448,303 14,936,829
       
       

Annual Filings Available

The Company's December 31, 2012 audited consolidated financial statements and Management's Discussion and Analysis including further discussion and analysis of fourth quarter events or items that affected results of operations, financial position and cash flows, will be available in the Investor Relations section of the Company's website - www.matamec.com - or on the Canadian Securities Administrators' website at www.sedar.com.

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 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
info@matamec.com
or
Edward Miller, Director IR
(514) 844-5252 ext. 205
edward.miller@matamec.com
http://www.matamec.com/
Tweet

Matamec Explorations Inc.

EXPLORATION STAGE
CODE : MAT.V
ISIN : CA5765411064
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Email Alert Add to Watchlist Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy
Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
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...
3/8/2011Mr. Sean Roosen Nominated as President of the Strategic Advi...
Financials of Matamec Explorations Inc.
5/30/2013Reports First Quarter 2013 Financial Results
5/2/2013Reports 2012 Year End Financial Results
12/3/2012Reports Financial Results for the Third Quarter
Project news of Matamec Explorations Inc.
8/19/2013(Sakami)and Canada Strategic Metals Announce Agreement for Sakami Go...
4/13/2011(Kipawa Hreo-y-zr)Intersects 1.04% ZrO2 Over 73.3 Metres on its Kipawa HREO-Y-...
4/8/2011(Kipawa Hreo-y-zr)3D Animation Featuring 2010 Resources at the Kipawa HREE-Y-Z...
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.
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
9/4/2013Announces Results of Positive Feasibility Study for Kipawa J...
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
3/19/2013Receives $1.041 Million from Toyotsu and Provides Update for...
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 ...
7/7/2011Provides Additional Information Regarding Updated Resource E...
6/30/2011Announces 63,850 Tonnes of Indicated and 17,780 Tonnes of In...
6/6/2011Makes a Higher Value Rare Earths Concentrate from the Eudial...
5/30/2011Continues Its Metallurgical Optimization Tests Without Les H...
11/18/2010Positioning of Matamec's Heavy Rare Earths Kipawa Deposit
4/14/2008plans 8,000 metres for Matheson J-V
Comment this article
You must be logged in to comment an article8000 characters max.
 
Sign in
User : Password : Login
Sign In Forgot password?
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (MAT.V)Other OTC (MTCEF)
0.050+11.11%0.030+0.00%
TSX-V
CA$ 0.050
10/24 15:08 0.010
11.11%
Prev close Open
0.045 0.045
Low High
0.045 0.050
Year l/h YTD var.
0.045 -  0.120 -50.00%
52 week l/h 52 week var.
0.045 -  0.130 -58.33%
Volume 1 month var.
61,500 -16.67%
24hGold TrendPower© : -25
Produces
Develops
Explores for Gold - Rare earth
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
TOP NEWSRELEASES
Annual variation
DateVariationHighLow
2014-37.50%0.120.08
2013-52.94%0.260.07
2012-55.26%0.480.14
2011-40.63%0.700.20
2010204.76%0.660.11
 
5 years chart
 
3 months chart
 
3 months volume chart