Matamec Explorations Reports 2012 Net Loss of $122,638

Matamec Explorations Inc.  (TSXV:MAT, OTCQX:MHREF) announced its financial results for Q4 and year end for 2012.

As quoted in the press release:

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

Matamec’s President and CEO, Andre Gauthier, said:

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.

To view the whole press release, click here.