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Gold/Mining/Energy : North American Palladium(AMEX:PAL)- PGM Producer
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To: FooFooTheSnoo who wrote (487)2/25/2000 9:08:00 AM
From: Bruce Robbins  Read Replies (1) of 976
 
FooFoo,

If you look at the 1998 figures from the USGS Mineral Commodity Summaries the picture becomes clearer:

1998 Worldwide Production
Pt: 155,000 Kg
Pd: 125,000 Kg
Au: 2,400,000 Kg

1998 Reserves
PGE: 71,000,000 Kg (note PGE)
Au: 45,000,000 Kg

1998 Reserve Base
PGE: 78,000,000 Kg
Au: 72,000,000 Kg

All of the PGE's in these figures are held mainly by South Africa and Russia. There is not much ability to expand the reserve base for PGE IMO. The gold is produced from too many mines to count and IMO the reserve base can expand substantially with a price rise. The PGE situation makes the OPEC cartel look like a joke. PGE price is definitely controlled by the producers. If only the Russians could get their act together. I'm wondering when they are going to start dumping.

Bruce
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