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Gold/Mining/Energy : Conquistador Mines Ltd. (CMG-V)

CMG 31.69

-2.6%

4:00 PM EDT

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To: Chuca Marsh who wrote (1366)	3/22/2001 7:49:47 PM
From: russet	Read Replies (2) of 1419

Website is definitely changing,...finally. But this news is rather ominous for PGM plays,... http://www.siliconinvestor.com/readmsg.aspx?msgid=15549600 Market for Palladium to fade away? Read today's news from Bridgenews: "NYMEX platinum futures settled down $9.9 at $569.1 an ounce after falling to a nearly five-month low of $568.2. Jun palladium settled down $8.0 at $777.0. Honda Motor Co. Ltd. and Catalytic Solutions Inc. announced Thursday that they have developed a new automotive catalyst emission system that greatly reduces the dependence on high-cost precious metals such as palladium and platinum by around 50-70%. The companies said the new system will be put into use in certain Honda models in Japan from next month. Catalytic Solutions is in talks to sell the technology to other auto makers as well. (See stories .15218, .15829, and .16834) If this wasn't bearish news enough, Dow Jones Newswires reported that Switzerland imported a very sizeable 61 tonnes of palladium sponge from Russia in February. Kaplan suggested that the Russian sales in Switzerland was historical and therefore the market took it in stride. But the further development of an auto catalyst with reduced platinum and palladium content may be "a death nail" for palladium, especially as it comes at a time when automobile consumption is likely to slow from an ailing economy, he said. Platinum's break below $570 Thursday was also a bearish development for the metal, said Kaplan. "The charts look awful and I think it's heading lower," he said. Kaplan also noted that the stock market decline will have a negative impact on platinum, as 50% of the world's consumption of the metal is for jewelry. The decreased wealth effect of a weaker stock market will reduce money available for jewelry purchases."

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