SAN ANTONIO--(BUSINESS WIRE)--Management of Nova Mining Corp. (OTCBB: NVMN) disclosed today that they have received the reports and government license documents on the third lithium mining property owned by Mongolian National Mining Consultants Limited (MNMC). Management states that the reports are encouraging as were the reports on the first two properties. Nova Mining Corp has contracted with MNMC for the exclusive right to purchase 100% of the lithium produced from three large licensed MNMC mining properties at a discount to market price.
“We are moving forward!” stated Nova Mining President James Dilger. “We have the initial financing commitment to continue our assessment of the MNMC deal, and we will actively pursue the finding and securing of additional lithium assets. It appears Nova Mining Corp has selected a potentially very lucrative point to make bold moves on securing lithium supplies. All of the activity we are seeing leads us to believe that lithium will continue to escalate in price and supplies will become even more valuable.”
Multiple reports of Apple’s (NASDAQ: AAPL) booming iPad sales, smartphones and electric cars driving up lithium prices and tightening demand have recently hit the news as these items need lithium as the main ingredient in their long-life batteries. Consumers are also anticipating an Apple iPhone 5 to be released this year. Bloomberg reported that, due to the exploding popularity of iPads and increasing sales of hybrid cars, investors from JPMorgan Chase & Co. to BlackRock Inc. are investing in producers of lithium for batteries. The Bloomberg article can be seen at http://www.bloomberg.com/news/2012-06-19/ipad-boom-strains-lithium-supplies-after-prices-triple.html
MNMC is a Hong Kong company, with its principal business operations in Ulaanbaatar, Mongolia. MNMC is the registered owner of multiple mining properties that are located in Mongolia. Recent Surveys of MNMC’s large mining properties indicate significant quantities of commercially recoverable Lithium reserves. As part of the new lithium purchase deal, Nova Mining has the right to perform Due Diligence on the three licensed lithium fields, prior to both parties promulgating the Definitive Mineral Production Agreement.
Nova Mining Corp. (NVMN) seeks out the most potentially lucrative mining projects and supplies 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 many of Apple’s popular electronic devices, Microsoft’s (NASDAQ: MSFT) new Surface tablet and Tesla Motor’s (NASDAQ: TSLA) new electric cars.
More information on Nova Mining Corp can be seen at: http://www.nova-mining.com
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 (NYSE: FMC).
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