North American Palladium(AMEX:PAL)- PGM Producer Message Board

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Gold/Mining/Energy : North American Palladium(AMEX:PAL)- PGM Producer

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To: koan who wrote (614)	6/14/2000 2:42:00 PM
From: russet	Read Replies (2) of 976

<<In fact, given these prices wouldn't it make sense to just borrow the PD and sell enough forward to finance the new mill and then pay the PD back with the new production. That way you completely avoid further dilution. This seems so obvious I would guess that is what they plan to do with these new prices - or am I missing something? >> It might be difficult to find someone with some PGM's that is willing to lend it to PDL so they can sell it on the spot market. Car manufacturers, and other users of the metal are contracting directly with the PGM miners and refiners for all of their future production, and some manufacturers are stockpiling so free PGM metals are scarce. Russia was thought to have large amounts stockpiled, but as we all know, it appears they do not, or at least don't want to sell it now. It's a good plan, but unlike Gold, there are few institutions with large stockpiles of PGM's (like the Central Bank reserves of Gold and Silver) to allow it to work. The PGM markets run like some of us wish the gold markets could.

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