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Gold/Mining/Energy : SUDBURY AREA AND THE PGM PLAY
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To: Elizabeth Andrews who wrote (72)12/16/1999 4:02:00 PM
From: Ptaskmaster  Read Replies (1) of 349
 
The nature of my investments comprises my bet that the Russian pgm resource is finite, in the sense that: Noril'sk is inefficient and might be running out of available reserves; that Noril'sk and other Russian production is limited in the supply pipeline to the west; that above the ground stockpiles from past production are being depleted; and that exports of precious metals are becoming increasingly important to Russia as a means of securing hard cash or loans.

If South Africans can profitably increase supply and export through their supply pipelines, why are the two largest producers exploring through JVs in Ontario? Pt and Pd markets are small but specialized, as are their applications in areas where there are no comparable substitutes. Their scarcity and price exceeds that of gold.

I thought Inco's Sudbury production of pgms had fallen over the years, and Voisey Bay may not carry even these grades of pgms. However I could well be mistaken on both these points as I don't much follow the companies that produce pgms as a by-product.

For the Canadian juniors primarily looking for pgms, the Pt and Pd low grade resource are becoming clearer; now it turns out there are hopes for higher grade resources too.

Ptask
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