DGAP-News: Pembleton Minerals&Matallugical Co.Ltd.: Pembleton Minerals Guidance on Record Coal Prices
(firmenpresse) - DGAP-News: Pembleton Minerals&Matallugical Co.Ltd. / Key word(s):
Miscellaneous
Pembleton Minerals&Matallugical Co.Ltd.: Pembleton Minerals Guidance
on Record Coal Prices
09.03.2011 / 12:35
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Pembleton Minerals Guidance on Record Coal Prices
Toronto, Canada - (For immediate release) - Marach 8, 2011
Pembleton Minerals and Metallurgical Co. Ltd. (Pembleton): Deutsche Börse
symbol: 7PB www.pembletonminerals.com provided guidance regarding the
soaring price of coal and its impact on the potential joint venture
opportunity with PNOC Exploration Corporation (PNOC EC) .
With recent coal prices rising over 35% since October, 2010 to $131.00 USD
per tonne, the expectations are that the price has additional upside
potential in the short term. The supply side of the market has run into a
variety of market disruptions, including weather issues in Russia, and
problems with export supplies from South Africa. These have recently been
compounded with the flooding in Queensland, Australia.
Countries such as South Korea and Japan are scrambling to replace the lost
coal deliveries from these various setbacks. According to industry
sources, 3 cargoes have already been diverted from China to other North
Asian markets recently.
According to research analyst Melinda Moore, with London based Credit
Suisse; 'Some miners suggest it could take as long 18 months for thermal
and coking coal supplies to fully recover.
The Company is currently in negotiations to partner with PNOC Exploration
Corporation (PNOC EC) in the development of projects under the Coal
Operating Contract no. 41 (COC 41) and COC 152. These projects are located
are located in Mindanao. COC 41 is currently being actively mined, as well
as undergoing additional exploration work. A total of 91,440 metric tons
of coal were produced from this property in 2009.
Disclaimer&Safe Harbor Statement:
This release may contain certain 'forward-looking statements' with respect
to certain of Pembleton Minerals and Metallurgical Co. Ltd.'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 underlying assumptions, 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 Pembleton Minerals and
Metallurgical Co. Ltd.'s actual results to differ materially from those
anticipated. Pembleton Minerals and Metallurgical Co. Ltd. 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
Pembleton Minerals and Metallurgical Co. Ltd. operates. The actual results
that Pembleton Minerals and Metallurgical Co. Ltd. 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.
Pembleton Minerals and Metallurgical Co. Ltd. does not undertake any
obligation to update forward-looking statements should circumstances or
management's beliefs or opinions change.
For further information please contact:
Pembleton Minerals and Metallurgical Co. Ltd.
100 Consillium Place
Suite 200
Scarborough, ON
M1H 3E3
Email: info(at)pembletonminerals.com
End of Corporate News
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114933 09.03.2011
Datum: 09.03.2011 - 12:35 Uhr
Sprache: Deutsch
News-ID 33427
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