SAN ANTONIO--June 29, 2012: Management of Nova Mining Corp. (OTCBB:NVMN) disclosed today that they are further reassured that their recent move to secure valuable Lithium product from three large licensed Lithium fields is economically sound and perfectly timed, due to recent important events. Multiple articles about Apple's 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 anticipating an Apple iPhone 5 to be released this year and now there are articles and blogs alluding to the question of whether Apple would buy Tesla Motors . In other words, the hugely popular American electronics company credited with sparking the current run on lithium may move to acquire the progressive American electric car company that also needs massive amounts of lithium for their long-life batteries.
“We originally planned to quickly move to secure lithium supply agreements with battery manufacturers”
"We originally planned to quickly move to secure lithium supply agreements with battery manufacturers," said Nova Mining President James Dilger. "However, every day that passes gives us cause to believe that the price of Lithium will quickly shift from rising to skyrocketing. Our focus, of course, would be to get the most lucrative deal possible -- and that may mean there could be some wisdom in holding out a bit. Our mission is maximum profitability."
Last week, Nova Mining Corp executed a LOI with Mongolian National Mining Consultants Limited (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. 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.
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 new Surface tablet and new electric cars.
