Dana Poised to Take Advantage of Recent Rise in Base Metal Prices
14 September 2009 - 10:30PM
Marketwired
(OTCBB: DANR) (FRANKFURT: OD0) -- Dana Resources is a US-based
precious metals development company with advanced stage gold and
base metal properties in Peru. Dana Resources comments on recent
copper and base metals surge.
China, the world's third largest economy, continues to drive
demand for copper and base metals to fuel its ever-increasing need
for power, infrastructure and the real estate sector. Government
data showed investment growth in China's real estate market
accelerated sharply in August, while prices and sales continue to
rise. Copper prices have already more than doubled this year,
thanks to record imports from China in the first half.
Analysts have begun revising forecasts higher for base metals
demand, which in turn has created a surge in buying moving prices
up sharply. The deteriorating US dollar also makes metals cheaper
to holders of other currencies and should give them more room to
rise. Some expect demand to pick up in November for the seasonal
end of year surge.
Mr. Len DeMelt, Dana Resources President, comments on the recent
price appreciation, "This bodes well for Dana to take advantage of
the recent surge in base metals prices. This will help attract new
investment into the company and advance its base metals projects.
We expect to continue to see strong demand in copper and related
base metals."
About Dana Resources
Dana Resources is a precious and base metals exploration company
with offices in the United States and Peru. Dana's management team
possesses local knowledge, extensive international connections, a
wealth of experience and technical expertise in mining, mining
finance, exploration and production. Dana Resources has acquired a
portfolio of gold, silver and other precious & base metal
properties located in Peru's most prolific mining regions.
With Peru growing as a producer of gold, silver and other metals
on the international market, Dana Resources is well positioned to
capitalize on the escalating global demand for commodities. The
management team and Directors are committed to creating value for
their shareholders and to the long-term success of Dana
Resources.
The statements contained herein which are not historical are
forward-looking statements that are subject to risks and
uncertainties that could cause actual results to differ materially
from those expressed in the forward-looking statements, including,
but not limited to, certain delays beyond Dana Resources control
with respect to the commencement of drilling operations,
concentration in mineral deposits, delays in testing and evaluation
of ore samples, and other risks detailed from time to time in Dana
Resources' filings with the Securities and Exchange Commission.
Contact: Leonard DeMelt Dana Resources www.danaresources.com
Email Contact
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