DGAP-News: North Thunder Bay Mining Co. Ltd.: North Thunder Bay Mining Optimistic Based on Record Breaking Prices of Gold and Copper
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North Thunder Bay Mining Co. Ltd.: North Thunder Bay Mining Optimistic
Based on Record Breaking Prices of Gold and Copper
04.03.2011 / 12:45
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North Thunder Bay Mining Optimistic Based on Record Breaking Prices of Gold
and Copper
Toronto, Canada - (For immediate release) - March 3, 2011
North Thunder Bay Mining Co. Deutsche Börse symbol: 84N
(www.norththunderbay.com), is expecting to see continued upward pressure on
the price of copper and gold. Both Copper and gold have been reaching
record high prices, further improving the economic feasibility of bringing
its Lubo-Boneng prospect back into production.
Gold reached an all time high of $1,434 per oz this week, and some experts
are advising there is still significant upside potential for these prices
to escalate further. Amid fears of turmoil in Libya, the Middle East and
North Africa and soaring oil prices, investors are looking for a safe haven
to protect their wealth.
Once again, China seems to be a key factor driving the price of gold up, as
the Country celebrates national holidays and as the wedding season begins,
all of which are associated with gift giving - and gold products are the
gift of choice.
Additionally, Chinese investors are buying into the idea that gold has
plenty more upside potential, even at the current elevated rates.
Experts say the continual decline of your US dollar has triggered investors
to choose risk-free haven goods such as gold and silver precious metals.
And with higher consumption and purchasing demand, gold prices and silver
prices will continue to go up. One expert has advised that he expects the
price to rise for the remainder of the year, and reach as much as $1,900
per oz. by years-end.
At the same time, copper is also reaching all time record highs, but for
very different reasons. China is once again a leading factor, as demand
remains strong for construction and electronics continues even in the face
of recent Chinese economic policies to slow down the pace of growth and
keep inflation under control.
The Lubo-Boneng project is a past producer of copper, gold and silver. The
plant produced 65,230 tonnes of copper, 3.70 tonnes of gold, and 1,507
tonnes of silver contained in concentrates, in the 1970s through to the
early 1980s. The reason for closure came as a result of very weak metal
prices encountered in the 1980s. However, with prices of these metals
hitting historic highs, the economic viability of the mine is extremely
promising once again.
Disclaimer&Safe Harbor Statement:
This release may contain certain 'forward-looking statements' with respect
to certain of North Thunder Bay Mining Co.'s plans, goals and expectations
regarding its future financial condition, performance, results, strategy
and objectives. Words such as 'anticipates', 'expects', 'intends', 'plans',
'believes', 'seeks', 'estimates', 'may', 'could', 'would', 'might', 'will'
and variations of these words or similar expressions are intended to
identify forward-looking statements. In addition, any statements that refer
to expectations, beliefs, plans, projections, objections, performance or
other characterizations of future events or circumstances, including any
underlyingassumptions, are forward-looking statements. Forward-looking
statements in this press release are not promises or guarantees of future
performance and are subject to risks and uncertainties that could cause
North Thunder Bay Mining Co.'s actual results to differ materially from
those anticipated. North Thunder Bay Mining Co. cautions the reader not to
place undue reliance upon any such forward-looking statements. These
forward-looking statements involve known and unknown risks as well as
uncertainties, including those discussed herein as well as the following:
(i) domestic and global economic and business conditions; (ii) market
related risks and the performance of financial markets generally; (iii) the
policies and actions of regulatory authorities; (iv) the impact of
competitive factors; (v) risks and uncertainties associated with future
acquisitions or combinations within relevant industries; and (vi) changes
in capital, solvency or accounting standards as well as tax and other
relevant legislation or regulations in the jurisdictions in which North
Thunder Bay Mining Co. operates. The actual results that North Thunder Bay
Mining Co. achieves may differ materially from any forward-looking
statements which are based on management's beliefs and opinions at the time
the statements are made. North Thunder Bay Mining Co. does not undertake
any obligation to update forward-looking statements should circumstances or
management's beliefs or opinions change.
For further information please contact:
North Thunder Bay Mining Co.
Hudson Bay Center
2 Bloor Street East
Suite 3500
Toronto ON
M4W 1A8
Email: info(at)norththunderbay.com
End of Corporate News
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114475 04.03.2011
Datum: 04.03.2011 - 12:45 Uhr
Sprache: Deutsch
News-ID 33383
Anzahl Zeichen: 0
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Kategorie:
Business News
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