SAN ANTONIO, Texas--(BUSINESS WIRE)--Nova Mining Corp. (OTCBB:NVMN): Successful price negotiations in China have persuaded Company President James Dilger to quickly detour to Mongolia to pursue additional lithium mining prospects as well as overseeing current business with Mongolian National Mining Consultants Limited (MNMC). Nova Mining Corp and MNMC have executed an agreement for the exclusive right of Nova to purchase 100% of the lithium produced from MNMC mining properties at a discount to market price.
Mongolian National Mining Consultants Limited 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 mining properties indicate significant quantities of commercially recoverable Lithium reserves. Nova Mining Corp and MNMC are in the due diligence phase of the deal, prior to promulgating a Definitive Agreement.
Last week, Nova Mining Corp executed an LOI for the supply of lithium to Asia Power International Company, Ltd. of Shenzhen, China. Asia Power International is a major international manufacturer and supplier of lithium-ion batteries for the computing and smartphone industry. Since Mr. Dilger’s trip to Asia, MarketWatch published a news release of another 10 percent increase incurred in the price of lithium. This new information also contributed to Mr. Dilger’s decision to pursue multiple lithium supply arrangements while he is there. To provide maximum shareholder value, Dilger’s focus is to leverage the best possible positions for Nova Mining during the current lithium shortage.
The Marketwatch release, published through Marketwire, can be seen at http://www.marketwatch.com/story/talison-lithium-achieves-10-price-increase-2012-07-12.
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 many of Apple’s (NASDAQ: AAPL) very popular line of electronic devices, Microsoft’s new Surface tablet and Tesla Motor’s new electric performance 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.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
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