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Gold/Mining/Energy : North American Palladium(AMEX:PAL)- PGM Producer
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To: Ptaskmaster who wrote (532)3/30/2000 12:14:00 PM
From: Elizabeth Andrews  Read Replies (2) of 976
 
I understand that the expansion financing is based on Pd at $325 with lower prices expected a few years out. The expansion is economic at that price and would, in my view, justify a higher price for PDL.

What I'm waiting for is the plan to hedge the new production. This is where they screwed up badly last time and is the primary reason for the $100 debt. I hope the hedge or forward selling includes a deal with an industry partner on a long term supply contract. It would also be nice to see an underwriter take down some stock as part of the financing.

I'm thinking that the Pd price to use at least for the next two years is $500/oz. Things will good if that holds.

I think patience will be rewarded.
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