Sikafo Gold Mines Ltd.
Pembleton Minerals & Matallugical Co.Ltd.: Pembleton Minerals Guidance on Record Coal Prices
Pembleton Minerals & Matallugical Co.Ltd. / Key word(s): Miscellaneous Pembleton Minerals Guidance on Record Coal Prices Toronto, Canada – (For immediate release) – Marach 8, 2011 Pembleton Minerals and Metallurgical Co. Ltd. (Pembleton): Deutsche Börse symbol: 7PB www.pembletonminerals.com provided guidance regarding the soaring price of coal and its impact on the potential joint venture opportunity with PNOC Exploration Corporation (PNOC EC) . With recent coal prices rising over 35% since October, 2010 to $131.00 USD per tonne, the expectations are that the price has additional upside potential in the short term. The supply side of the market has run into a variety of market disruptions, including weather issues in Russia, and problems with export supplies from South Africa. These have recently been compounded with the flooding in Queensland, Australia. Countries such as South Korea and Japan are scrambling to replace the lost coal deliveries from these various setbacks. According to industry sources, 3 cargoes have already been diverted from China to other North Asian markets recently. According to research analyst Melinda Moore, with London based Credit Suisse; ‘Some miners suggest it could take as long 18 months for thermal and coking coal supplies to fully recover. The Company is currently in negotiations to partner with PNOC Exploration Corporation (PNOC EC) in the development of projects under the Coal Operating Contract no. 41 (COC 41) and COC 152. These projects are located are located in Mindanao. COC 41 is currently being actively mined, as well as undergoing additional exploration work. A total of 91,440 metric tons of coal were produced from this property in 2009. Disclaimer & Safe Harbor Statement: This release may contain certain ‘forward-looking statements’ with respect to certain of Pembleton Minerals and Metallurgical Co. Ltd.’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 Pembleton Minerals and Metallurgical Co. Ltd.’s actual results to differ materially from those anticipated. Pembleton Minerals and Metallurgical Co. Ltd. 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 Pembleton Minerals and Metallurgical Co. Ltd. operates. The actual results that Pembleton Minerals and Metallurgical Co. Ltd. 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. Pembleton Minerals and Metallurgical Co. Ltd. does not undertake any obligation to update forward-looking statements should circumstances or management’s beliefs or opinions change.
Pembleton Minerals and Metallurgical Co. Ltd. Email: info@pembletonminerals.com End of Corporate News 09.03.2011 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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