North American Palladium(AMEX:PAL)- PGM Producer Message Board

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

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To: Bruce Robbins who wrote (872)	2/14/2001 9:44:04 PM
From: Sleeper	of 976

Bruce, you have summed the situation up very nicely. I am anticipating a short to medium term pullback in Pd prices because of all the factors you've pointed out. Indeed, I think the economic slowdown will dampen demand for Pd considerably since 2 of the hardest hit sectors will be autos and computers. As consumption falls and the Russians have to bring more to market to continue their hard currency cash flows at present levels, the cycle will become self perpetuating. 2-3 years out, I see demand rising again but at the same time new supplies, particularly from South Africa, coming on line. In summary, everything I have read and know to be the case points to an ultimate easing in Pd prices. Broken markets have a way of mending themselves, as Adam Smith pointed out. PAL is still very well situated with probable large untapped reserves and a mine expansion program in place. I think the stock will do well long term. But 10x increases in 14 months will not happen again, IMO. Hope this helps, Bruce. Regards- Sleeper

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