DGAP-News: North Thunder Bay Mining Expects Inflation to Maintain Higher Prices for Gold
(firmenpresse) - DGAP-News: North Thunder Bay Mining Co. Ltd. / Key word(s):
Miscellaneous
North Thunder Bay Mining Expects Inflation to Maintain Higher Prices
for Gold
19.04.2011 / 16:30
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North Thunder Bay Mining Expects Inflation to Maintain Higher Prices for
Gold.
Toronto, Canada - April 18, 2011 North Thunder Bay Mining Co. Deutsche
Börse symbol: 84N (www.norththunderbay.com), expects gold prices will reach
new highs in the foreseeable future. Much of this will be driven by
emerging markets in Asia, and more specifically, China.
In the first quarter, gross domestic product in China expanded at a higher
rate than anticipated by economists, rising 9.7 percent from a year
earlier, a report showed last week.
Economists had expected a March inflation rate of 5.2 percent, according to
the median forecast in a Bloomberg survey. Consumer prices in China, the
world's fastest growing major economy, rose 5.4 percent in March, the
quickest pace since 2008, exceeding the government's 2011 target for a
third month in a row.
In response, Chinese Reserve ratios will rise a half point from April 21,
the People's Bank of China said on its website last week, pushing the
requirement to a record 20.5 percent for the biggest lenders. The move came
less than two weeks after an interest- rate increase.
These factors are expected to push the value of gold even higher.
Immediate-delivery bullion, gained as much as 0.4 percent to $1,479.35 an
ounce and was at $1,476 at 2:03 p.m. in Singapore. Gold for June delivery
in New York climbed to an all-time high of $1,480.50 this month.
Gold will climb to $1,600 an ounce this year, according to researcher GFMS
Ltd. Total gold demand gained for a third consecutive year in 2010, aided
by a 66 percent jump in sales of bars, particularly in China, the
researcher said this week.
In terms of potential upside movement, consideration should be given to the
fact that adjusting historical highs to current value dollars leaves
additional upside potential on the table.
Higher gold prices are good news for the Company's Lubo-Boneng copper and
gold mine, and make the development of the prospect that much more
attractive to potential venture partners.
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
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
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. Theseforward-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:
Medrado Pineda, CEO
Telefon: +1-416-800-6000
Email: info(at)norththunderbay.com
http://www.norththunderbay.com
North Thunder Bay Mining Co.
1 Hunter Street East
Hamilton, Ontario
L8N 3W1, Canada
End of Corporate News
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19.04.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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120722 19.04.2011
Datum: 19.04.2011 - 16:30 Uhr
Sprache: Deutsch
News-ID 33832
Anzahl Zeichen: 0
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Kategorie:
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