Hi Larry,
you are a real speculator if you base your decisions on that crap.Firstly lets have a look at this palladium situation in general.
The environmental requirements for this metal will increase by leaps and bounds in the next 5 years,so is the high tech use of this metal increasing.So no worry about the demand.Now look at the available supply! There are not many places where you just dig for it.I doubt that unless the price stays above $500 for platinum metals, there would be much developing going on.What worried me more was the prices to go sky high and the industry being forced to look for substitutes.
The Russian supply is a large question mark of course, but only could help us in the long run if they would fill the gap now until more supplies can be developed in the western world.You can count on a 3 year time frame for new development,so the present platinum/palladium prices are not important, other than having an effect on people like you.
Now lets look at the Flag/glb situation in particular.
I don't know if you are familiar with the geology of the Wanapitei NE of Sudbury.All geological studies, surveys and drill results point to an immense deposit of nickel, copper, platinum, palladium, gold, silver, cobalt,zinc,scandium and other rare earth minerals.Flag has them all in their core samples.As a matter of fact, Flag is the largest landholder in the area and would have it not been for the bad gold situation (flag has already 2 proven gold deposits), the
development would have been progressed much better then it is.Also the price for palladium was not that great until a few years ago. Now however, with the catalytic converter and the electric cars coming in vogue, the outlook is much brighter.Just keep an eye on flag and glb, because they are here to stay.
BTW I bought your 3000 shares of flag today,because I think they are a bargain. |
