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Gold/Mining/Energy : Houston Lake Mining [HLM-ASE] -- Ignore unavailable to you. Want to Upgrade?

To: DRT who wrote (203)	6/27/1999 9:28:00 PM
From: DRT	Respond to of 364

Norilsk palladium exports dry up MOSCOW, June 18 (Reuters) -- Russian metals giant RAO Norilsk Nickel has not exported any palladium since the introduction of a 5-percent export tariff on April 28, the company's first deputy director general said Friday. _____ Let's hope the current work on Tib Lake identifies some good drill prospects. The size of the intrusion, proximity to Lac des Iles and initial drill indications characterize the potential. DRT

To: DRT who wrote (203)	7/24/1999 9:12:00 PM
From: DRT	Read Replies (1) \| Respond to of 364

Tib Lake Palladium Property - Phase II exploration The current Phase 2 exploration program on Tib Lake is timely for several reasons: 1. positive results will catch the market'e full attention: the drill results of other juniors have not been that impressive 2. location-geology-location ... located 15 km by road from the Lac des Iles Palladium Mine in the Thunder Bay area of Ontario, 2nd largest intrusion in the area next to Lac des Iles (one key factor in determining the potential for a discovery), etc. 3. Supply-Demand scenario for PGMs... Platinum, palladium, rhodium face supply deficit: CPM Platt's Metals Week, 19 Jul 1999, p 2-3, Mining Journal, 16 Jul 1999, p 48 According to the CPM Group's Platinum Group Metals Survey 1999, increasing demand for platinum, palladium and rhodium, especially from the automobile sector, led to deficits in supplies of all three metals in 1998. The trend is likely to continue, with autocatalyst demand rising by 4.3% to over 1.8 million oz in 1999. Of the three PGMs, palladium has had the biggest deficit, because of increasing demand, mainly from the automotive sector, and protracted delays in supplies from Russia, the world's leading producer. Palladium supplies fell 9.9% in 1998 to 5.53 million oz, but will increase to 5.66 million oz in 1999. Demand is projected to rise to 6.83 million oz in 1999 from 6.72 million oz in 1998. CPM estimates a deficit of 1.17 million oz in 1999. The palladium price has risen by 60% to around $343/oz since 1998, and this, coupled with the tight physical market, has led to the search for substitutes in several applications. The main component of the increase in demand is the automotive sector. In 1998, the total supply of rhodium declined for the first time since 1988, falling 5.1% to 493 803 oz from 520 111 oz in 1997. The decline was due to significantly lower Russian exports and a small decline in mine production. Rhodium prices have risen around $920/oz. The world's supply of platinum is expected to rise by 1.9% to 5.1 million oz in 1999. Demand in 1999 is forecast at 5.1 million oz. South Africa, the world's biggest producer of platinum, will increase production in 1999 to 3.76 million oz from 3.73 million oz in 1998. The platinum market is projected to be in deficit in 1999 for the fourth consecutive year and this will support price increases in the second half of the year. ________ DRT