DGAP-News: Bentley Fairview Resources Expects Resurgence in Price of Copper
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Bentley Fairview Resources Expects Resurgence in Price of Copper
01.04.2011 / 16:30
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Bentley Fairview Resources Expects Resurgence in Price of Copper
Toronto, Canada - March 30, 2011
Bentley Fairview Resources Co. Ltd. Deutsche Börse symbol: B06, advised
that it is still bullish on the price of copper despite some market
disruptions in the short-term, as evidenced from the recent softening of
the price for copper, off from its historic highs reached earlier in the
year.
The recent quake and ensuing tsunami that hit Japan have slowed down
consumption of copper imports, mainly due to the destruction of shipping
facilities and infrastructure. However, moving forward in the
re-development of the economy, there will be strong demand.
Once reconstruction begins, demand for commodities such as steel and copper
that are vital in the rebuilding of infrastructure, will drive consumption
upwards. Copper is a vital component in construction, for use in
electrical applications as well as in plumbing.
Analysts have started to look ahead to the rebuilding stage, forecast that
demand for copper will outstrip supply once again this year. Last year,
Japan brought in approximately 1.1 million metric tons of copper. Once
rebuilding is well underway, it is likely that import needs will soar, and
outstrip last year's demand on an annualized basis.
The Company also believes that the demand for copper in the Chinese market
will see a resurgence despite government attempts to reign in growth rates
in order to minimize inflationary pressure.
Goldman Sachs forecasts an average of $4.63 a pound for2011. The Macquarie
Group projects an average of $5.00 per pound.
Importantly, inventories of copper worldwide are shrinking, and efforts to
increase production from existing mines are probably somewhat short-term as
a solution. There are not a lot of new mines coming on-stream, and
existing mines will not be able to accommodate increased demand over the
longer term. In short, new mines must start to come on stream, and it can
easily take 5 years or more to bring a new project into production.
Management is optimistic that this pressure to develop new resources will
create greater interest in raising funds from potential partners to further
develop is OAS Copper Property.
Disclaimer&Safe Harbor Statement:
This release may contain certain 'forward-looking statements' with respect
to certain of Bentley Fairview Resources 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 Bentley Fairview
Resources Co. Ltd.'s actual results to differ materially from those
anticipated. Bentley Fairview Resources 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 Bentley
Fairview Resources Co. Ltd. operates. The actual results that Bentley
Fairview Resources 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. Bentley Fairview Resources
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:
Bentley Fairview Resources Co. Ltd.
1 London Place
255 Queens Ave
Suite 1000
London, ON
N6A 5R8
Email: info(at)bentleyfairview.com
End of Corporate News
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118163 01.04.2011
Datum: 01.04.2011 - 16:30 Uhr
Sprache: Deutsch
News-ID 33691
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Kategorie:
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