Pacific North West Capital Corporation-PFN on Alberta Message Board

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Gold/Mining/Energy : Pacific North West Capital Corporation-PFN on Alberta

PFN 7.340

+0.5%

Dec 19 4:00 PM EST

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To: koan who wrote (1290)	4/28/2000 8:56:00 AM
From: koan	Read Replies (1) of 2255

A comment on PGM price action: Speculation! This is the biggest variable for any precious metals price action when it gets rolling. It has been so long since we have had any real speculation in the metals that the younger crowd has probably never seen it <g>. There has been little metals speculation in the last 13 (some in 1987) and 20 years because the environment has been terrible (lots of supply from heap leaching) and decreasing demand because of lack of inflation; then the subsequent technical damage. The situation with the PGM's right now appears historic. they are being consumed like crazy there is presently inadequate supply and no large overhang of stocks. Most of the price rise seems to be caused by supply/demand imbalances, BUT there also seems to be the beginnings of some speculation. And gold and silver certainly won't be any competition it looks like. So if we start to get a speculation cycle going that is going to quickly draw out much of whatever remaining supplys there are of PGM's and now we have a real serious shortage with no place to get more PGM's. What's more the uses for the PGM's are so inelastic (i.e. price insensitive because they use such small amounts), that the users will just pay the higheer price. I believe if one looks at old PGM charts they will see that PT at $500+ is on breakout mode, PD just really broke out hitting $834 and Rhodium has been as high as $7000 per oz years ago. As I have said before, a great drama is unfolding. And PFN and Sudbury has a lot of ore just lying on top of the ground ready to scoop up and send to the mills.

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