NVMN: Lithium Buyers Could be Caught without Supplies after Apple iPhone 5 Launch
Nova Mining Corp. (OTCBB: NVMN) announced today that they are working out logistics for using rail between Mongolia and Shenzhen, China as a desired means for transporting lithium. The Company is currently pursuing a Definitive Agreement with Mongolian National Mining Consultants Limited (MNMC) for the exclusive right to purchase 100% of the Lithium produced from MNMC mining properties at a discount to market price. Recently, the Company learned that it may have as much as $12Bil in lithium product available at the MNMC properties in Mongolia. Company management has come to the decision that rail could offer lower costs, more reliable scheduling and quicker delivery.
China's developed rail system could be very instrumental in supplying critically short lithium to its electronics manufacturing centers. (Photo: Business Wire)
The importance of reliable transportation and quicker delivery may become advantageous, considering the upcoming and highly-anticipated Apple (NASDAQ: AAPL) iPhone 5 release. Nova Mining Corp calculates that the iPhone 5 release will have an equal or greater effect on tightening lithium supplies and raising prices worldwide as the recent iPad launch had. As such, Company management feels that any escalating demand on already short lithium supplies may leave some buyers out in the cold.
Nova Mining Corp enjoyed recent successful negotiations concerning supplying lithium in Shenzhen, receiving three supply deals for the critically short mineral in July. Management would like to take advantage of the close proximity of Mongolia to Shenzhen and any transportation positives available. As part of the Company's business model, reliable supply of product could become a valuable point of leverage in the current lithium “seller's market”.
Nova Mining Corp. (NVMN) seeks out the most potentially lucrative mining projects, supplies and sales of strategic high-demand minerals, such as lithium, as part of its aggressive economic business model. Lithium is the main ingredient in long life batteries, like those used in Apple's popular iPhones and iPads, Google's (NASDAQ: GOOG) new Nexus 7 tablet and Tesla Motor's (NASDAQ: TSLA) new performance electric cars.
About Nova Mining Corp. (OTCBB: NVMN)
Nova Mining Corporation is a Nevada corporation listed on the OTCBB under the trading symbol NVMN. The Company is a growth-focused entity that seeks to acquire an international portfolio of strategic high-demand mineral mining assets. Nova Mining competes in an industry sector that includes FMC Corp.
More information on Nova Mining Corp can be seen at: http://www.nova-mining.com
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Nova Mining Corp
James Dilger, 210-581-7753