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Gold/Mining/Energy : Precious and Base Metal Investing
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To: seventh_son who wrote (30912)9/21/2004 8:20:05 PM
From: choyhoy  Read Replies (1) of 39344
 
A very helpful post seventh son, but two observations:

1.) SPC has the ability to renegotiate the take-off arrangement with the auto manufacturer under certain circumstances. My understanding is that the company is exploring this possibility, which could lead to higher prices for SPC's platinum output in the near term;

2.) SPC's production is not "hedged". SPC has entered into an arrangement requiring that SPC sell, and the auto manufacturer purchase, SPC's platinum and palladium output on the terms set out in the agreement. IF SPC doesn't produce, there is no requirement that it buy in the market.

Regards,

Choyhoy
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