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Gold/Mining/Energy : Global Platinum & Gold (GPGI)
GPGI 23.03-5.1%1:14 PM EST
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To: JACK R. SMITH JR. who wrote (1668)2/17/1997 12:32:00 AM
From: Bill Jackson   of 14226
 
Jack; You are quite right about the possibility of a buyout. But it would be very expensive in cash. If it comes it will be an overwhelming paper offer. The useage of platinum is far less than that of gold. Jewellery, Catalysts and a few coins are it. It is not a universal store of value like gold is. You get the desert dirts efficiently removing their billions of ounces of platinum and it will head for low ground. Posts(on IPMCF) indicate that one pass will remove all the Gold and Platinum with costs for gold under $100 per ounce. The platinum drops into your hands free. Sold as a by product in the order of 10 M ounces per year of platinum and it will be worth well under $100 per ounce. The world does not use that much platinum. Cut the price and the catalysts use will go up a little, Jewellery will also go up, and coinage will fall??.
If the large platinum producers get it under their control they can abandon their South African base(as they are even as we speak being increasingly compromised by workers demands for USA wages and demands for ownership as well) If a low cost operation is going to put the South African mines out of business, they will own it.
and manage the USA one at the optimal profit point.
The shareholdrs will makeout well, but the consumers will keep paying big bucks for Platinum,(like Diamonds)
Bill Jackson
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