Chinese Gold Demand Has NACF CEO Bullish on New JV's Prospects
4 hours ago - ACQUIREMEDIA
HOUSTON--(BUSINESS WIRE)--Mar. 8, 2011-- Massive Chinese demand for gold and other precious metals has NACF (PinkSheets:NACF) President and CEO Maurice Stone feeling bullish about the company’s new joint venture with the Beijing Bullion Transfer Group.
NACF announced the formation of the JV on Monday. The deal was made to expand and market the increasing supply of precious metals from cheaper Asian mines and bolster NACF’s international prospectus. The Beijing Bullion Transfer Group (BBTG) trades, markets and transports gold, silver and precious metals.
"I believe this joint venture’s probability for success is quite high due to the massive demand for gold in China," Stone said. "Going into business with BBTG was a unique opportunity for NACF that we can’t wait to capitalize on."
Gold has traditionally been a popular investment in China, where the color yellow signifies royalty and auspiciousness. In recent years, the Communist government has been pushing citizens to buy gold, silver and other metals, creating the nation’s first gold exchange to allow anyone to trade gold in the open market with very little government intervention. This new market is helping to open ownership of gold to a growing middle class that saves up to 40 percent of its personal income, driving gold prices to all-time highs.
Bloomberg reported this week that analysts say China’s investment demand in 2010 jumped 70 percent to 179.9 tons, surpassing Germany and the U.S. as buyers sought out both coins and bullion. A lack of sound alternative investments in the country as well as inflationary fears is driving enormous institutional and retail demand for precious metals inside the developing Asian superpower.
With worries about inflation running rampant worldwide, investors are flocking to precious metals as a traditional hedge. China has become the epicenter of a gold-buying frenzy. The Communist nation became the world’s biggest gold producer in 2007, displacing South Africa. Bloomberg reported this week that the country’s imports through last October rose almost fivefold to 209 tons from the total shipped in the previous year, according to the Shanghai Gold Exchange.
NACF and BBTG plan to service this fast-growing appetite for Asian metals. The new joint venture will compete in an exciting sector that includes the Kinross Gold Corporation (NYSE:KGC), Gold Fields Ltd. (NYSE:GFI), Gold Fields Ltd. (NYSE:GFI) and AngloGold Ashanti (NYSE:AU).
About National Clean Fuels, Inc.
About NACF:
NACF is a publicly traded company, traded on the OTC Pinksheets exchange. For more information, please visit http://www.nationalcleanfuels.com/investors.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Source: National Clean Fuels, Inc.
NACF
Maurice Stone, 832-308-1260
President & CEO
inforequest@natcleanfuels.com
They save 40 percent of personal income. haha, we suck
4 hours ago - ACQUIREMEDIA
HOUSTON--(BUSINESS WIRE)--Mar. 8, 2011-- Massive Chinese demand for gold and other precious metals has NACF (PinkSheets:NACF) President and CEO Maurice Stone feeling bullish about the company’s new joint venture with the Beijing Bullion Transfer Group.
NACF announced the formation of the JV on Monday. The deal was made to expand and market the increasing supply of precious metals from cheaper Asian mines and bolster NACF’s international prospectus. The Beijing Bullion Transfer Group (BBTG) trades, markets and transports gold, silver and precious metals.
"I believe this joint venture’s probability for success is quite high due to the massive demand for gold in China," Stone said. "Going into business with BBTG was a unique opportunity for NACF that we can’t wait to capitalize on."
Gold has traditionally been a popular investment in China, where the color yellow signifies royalty and auspiciousness. In recent years, the Communist government has been pushing citizens to buy gold, silver and other metals, creating the nation’s first gold exchange to allow anyone to trade gold in the open market with very little government intervention. This new market is helping to open ownership of gold to a growing middle class that saves up to 40 percent of its personal income, driving gold prices to all-time highs.
Bloomberg reported this week that analysts say China’s investment demand in 2010 jumped 70 percent to 179.9 tons, surpassing Germany and the U.S. as buyers sought out both coins and bullion. A lack of sound alternative investments in the country as well as inflationary fears is driving enormous institutional and retail demand for precious metals inside the developing Asian superpower.
With worries about inflation running rampant worldwide, investors are flocking to precious metals as a traditional hedge. China has become the epicenter of a gold-buying frenzy. The Communist nation became the world’s biggest gold producer in 2007, displacing South Africa. Bloomberg reported this week that the country’s imports through last October rose almost fivefold to 209 tons from the total shipped in the previous year, according to the Shanghai Gold Exchange.
NACF and BBTG plan to service this fast-growing appetite for Asian metals. The new joint venture will compete in an exciting sector that includes the Kinross Gold Corporation (NYSE:KGC), Gold Fields Ltd. (NYSE:GFI), Gold Fields Ltd. (NYSE:GFI) and AngloGold Ashanti (NYSE:AU).
About National Clean Fuels, Inc.
About NACF:
NACF is a publicly traded company, traded on the OTC Pinksheets exchange. For more information, please visit http://www.nationalcleanfuels.com/investors.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Source: National Clean Fuels, Inc.
NACF
Maurice Stone, 832-308-1260
President & CEO
inforequest@natcleanfuels.com
They save 40 percent of personal income. haha, we suck
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