Molycorp, Inc. : Molycorp Announces Delay in Filing 10-K and Postponement of
Fourth Quarter and Full Year 2012 Earnings Call
GREENWOOD VILLAGE, Colo., (7 a.m. Eastern, February 28, 2013) -- Molycorp,
Inc. (NYSE: MCP) today announced that it will require an extension of time to
file its Annual Report on Form 10-K. The Form 10-K would otherwise have been
required to be filed no later than March 1, 2013. The Company noted that the
filing delay is necessary for it to determine the amount of a non-cash
goodwill impairment charge, which it estimates will be substantial, to be
recorded for the fourth quarter and reflected on its full year 2012 financial
The Company expects to file the Form 10-K by March 15 and will reschedule its
fourth quarter and full year 2012 earnings conference call to coincide with
the filing of its 10-K.
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For more information:
Jim Sims, +1 (303) 843-8062
Vice President, Corporate Communications
Brian Blackman, +1 (303) 843-8067
Senior Manager, Investor Relations
ABOUT MOLYCORP, INC.
One of the world's leading manufacturers of custom engineered rare earth and
rare metal products, Molycorp is vertically integrated from its world-class
rare earth resource to its advanced downstream processing facilities. With 26
locations across 11 countries, the Company also produces rare earth magnetic
materials through its Molycorp Magnequench subsidiary, including
neodymium-iron-boron (NdFeB) magnet powders, used to manufacture bonded NdFeB
permanent rare earth magnets. Through its Intermetallics Japan joint venture
with Daido Steel and the Mitsubishi Corporation, Molycorp manufactures
next-generation, sintered NdFeB permanent rare earth magnets. Through its
Molycorp Advanced Water Technologies subsidiary, the Company markets and sells
its proprietary, cerium-based advanced water purification technology called
SorbX(TM) for use in municipal and industrial wastewater treatment,
recreational water, and pool and spa water treatment markets. For more
information please visit www.molycorp.com.
SAFE HARBOR STATEMENTS
This release contains forward-looking statements that represent Molycorp's
beliefs, projections and predictions about future events or Molycorp's future
performance. Forward-looking statements can be identified by terminology such
as "may," "will," "would," "could," "should," "expect," "intend," "plan,"
"anticipate," "believe," "estimate," "predict," "potential," "continue" or the
negative of these terms or other similar expressions or phrases. These
forward-looking statements are necessarily subjective and involve known and
unknown risks, uncertainties and other important factors that could cause
Molycorp's actual results, performance or achievements or industry results to
differ materially from any future results, performance or achievement
described in or implied by such statements.
Factors that may cause actual results to differ materially from expected
results described in forward-looking statements include, but are not limited
to, the final amount of the goodwill impairment charge to be incurred for the
fourth quarter of 2012, which is subject to change pending the finalization of
Molycorp's financial statements for the year ended December 31, 2012, and
Molycorp's ability to complete its financial statements for the year ended
December 31, 2012 and its Form 10-K within the expected timeframe.
This announcement is distributed by Thomson Reuters on behalf of Thomson
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: Molycorp, Inc. via Thomson Reuters ONE
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