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Gold/Mining/Energy : AVL.V - AVALON VENTURES

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To: RMF who wrote (523)	2/5/1998 11:45:00 AM
From: DRT	Read Replies (1) of 1474

RE. BIG WHOPPER - I doubt that anyone will forget $8.2 million Cdn in operating profits . RE. WOLF MOUNTAIN - as for being written off - NOT FOR LONG! Next week it will be one of two projects on everyone's radar screen! While PGE deposits are not rare metals, supply is a growing concern. Limited supply coupled with increasing demand, means prices are increasing (platinum jumped $10 U.S yesterday). 90% of platinum comes from South Africa and Russia, 60% of palladium is sourced from Russia - there have been no Russian shipments of either in 1998 pending so-called 'export approvals'. Many believe that 'Russia is almost out of platinum', that they have been 'selling off their stockpiles for the last 8 years for hard currency', hence they have to restrict exports in order to meet local demand. The direction is clear, "It is estimated that Russia delivered 30% less platinum group metals in 1997 compared to 1996, and a large portion of this metal came from above ground stockpiles (Stillwater, January 28, 1997)". DRT

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