Nova Mining Corp.’s (OTCBB:NVMN) business associate Mongolian National Mining Consultants Limited (MNMCL) is in negotiations to add several new mining sites in Kazakhstan.
As quoted in the press release:
Nova Mining Corp has already received a third-party estimate of the commercially recoverable lithium deposits owned by MNMCL that are under contract by Nova Mining Corp to be in excess of $12 Billion USD. Nova Mining is in the final stages of negotiating a definitive Mineral Purchase Agreement to purchase 100% of the lithium produced by MNMCL at the Mongolian sites at a substantial discount to market price. The receipt of written notice that more properties in Kazakhstan are under negotiations could prove to be optional additional lithium product to be made available to Nova Mining Corp. In the current lithium “seller’s market”, more available lithium could potentially mean significant additional sales for the Company.