FSC / Press Release
Molycorp Announces Delay in Filing 10-K and Postponement of Fourth Quarter and
Full Year 2012 Earnings Call
GREENWOOD VILLAGE, Colo., February 28, 2013 /FSC/ - 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 statements.
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.
# # #
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
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.
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-0- Feb/28/2013 12:29 GMT
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