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Gold/Mining/Energy : North American Palladium(AMEX:PAL)- PGM Producer

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To: Elizabeth Andrews who wrote (862)1/22/2001 8:17:19 AM
From: PHILLIP FLOTOW   of 976
 
To the Editor:

Thank you very much for Cheryl Strauss Einhorn's insightful column on palladium (Commodities Corner, January 15).
I have been active in the precious-metals markets for about 10 years and currently trade platinum and palladium for Sovereign Bank in Providence.
One point: In addition to Stillwater, which the column describes as "the only significant producer of palladium and platinum outside South Africa and Russia," there's another company worth a look.
It's North American Palladium, which trades on the Amex under the ticker symbol PAL and on the Toronto under PDL.
The company currently produces approximately 100,000 ounces annually. Production is estimated at 170,000 ounces for 2001 and 250,000 for 2002. North American Palladium has returned 26% for the year 2001 already (ranking it fifth among Toronto Stock Exchange companies, year to date) and its stock is up about 200% in the past year.

MICHAEL F. SHEEHAN
Vice President
Precious Metals Trading
Sovereign Bank New England
Providence

PHIL
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