North Thunder Bay Mining Co. Ltd.
North Thunder Bay Mining Sees Strong Demand Keeping Copper Prices High
North Thunder Bay Mining Co. Ltd. / Key word(s): Miscellaneous North Thunder Bay Mining Sees Strong Demand Keeping Copper Prices High Toronto, Canada – (For immediate release) – February 25, 2011 North Thunder Bay Mining Co. Deutsche Börse symbol: 84N (www.norththunderbay.com), is expecting to see continued upward pressure on the cost of Copper. Management is optimistic regarding the potential success of its Lubo-Boneng copper mine prospect. Copper was trading at historical lows of USD $0.70 per pound in the 1990s, but has skyrocketed in recent years and is trading well above USD $4.00. On a tonnage basis, we are looking at a price of USD $10,000 per tonne. Once again, China is a major part of the rise in price, as their economy continues to expand. India is another major market that is growing. With key uses of the product in electronic/electrical and construction, the base metal is tied strongly to economic performance on a global basis. After taking a major hit in price in 2009, the price of copper has rebounded strongly and now trades at approximately $4.50 per pound. Despite weak economies in the western world, China and other emerging economies are driving demand, and have been more than picking up the slack from the developed world. Simply put, China is an enormous market that is growing at breakneck speed. The continued urbanization of the population is driving demand for construction related materials. In the past 30 years, the population shift to cities has been unprecedented. The number of people living in cities has more than doubled to reach 45% of the total population. To put that into perspective, China has about 170 cities with a population over one million people. All of Europe has roughly 35. As for the longer term, analysts suggest that an additional 300 to 400 million more people will move the larger cities over the next coming 20 years. That more than the total population of the U.S. It must also be remembered that copper is not easily replaced by a less expensive metal. As an example, aluminum electrical wiring (popular in the 1960s) carries a significant risk of fire, and is no longer used in new home construction. Similarly, because of its high level of conductivity, there are no other base metals regarded as an obvious substitute in electronic devices. 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. 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 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.
North Thunder Bay Mining Co. End of Corporate News 25.02.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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