..........the platinum and palladium markets.....
MGR's annual general meeting on May 21, 1999
Dave, I hope the shareholders trust your vision for MGR and vote in favor
to what you and the Directors present as good for MGR's future.
I am still of the opinion that the 20:1 consolidation represents a lessor
of a lost to me as a current shareholder, versus it not voted in.
If the consolidation is passed and this allows new investment money,
then from the Le Metropole Cafe is the following:
lemetropolecafe.com GATA Gold Anti Trust Action Bill Murphy
The Café's John Brimelow has some bullish commentary to bring to you
about the platinum and palladium markets. As usual he ferrets out some
important info that others do not take the time to track down.
Johnson Matthey just issued its annual report for 1998 on both platinum
and palladium. As a result of increased catalytic converter demand,
platinum demand was up some 40% last year.
But the real story came out as a result of John's sleuthing ( for
some reason, it was not widely disseminated). Chinese jewelry demand
was up some 70% in 1998 and is expected rise again to about 1million
ounces in 1999. That means
Demand in China for platinum jewelry has surfaced in the countryside
which was also a big surprise as was the revelation that there is also a
growing investment platinum demand in China.
In addition, due to it's increased use in catalytic converters and its
potential for use in fuel cells, John feels the platinum market has a
long way to go on the upside.
Palladium demand was also up 21% last year and it's prospects are
explosive too. The good news it has been learned that the Russians sold
more than most thought they did and the market took the selling very
well. No one really knows how much they have left ( word is 9 million
ounces ) and, even if they have it, will they sell it?
John loves Stillwater, Anglo-American Platinum and Impala. They have
done very well in recent times ( outperformed ) and should do so in the
future according to John. JB, who is normally very conservative, calls
them "lay ups".
John is always anxious to learn all he can about platinum and palladium.
If any of the Café members have some real insight on either of these
commodities, he would like to hear from you at jbrimelow@donaldco.com.
Midas
Bill Murphy ( Midas ) |
