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Gold/Mining/Energy : North American Palladium(AMEX:PAL)- PGM Producer -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (375)	12/21/1999 10:11:00 AM
From: Eva	Read Replies (1) \| Respond to of 976

Thank you , remember way back when I asked you for a platinum/palladium stock you mentioned pdl, well I bought it way back! Almost tripled by now!!!! hmmmmm, but what now? Eva thinkingloud

To: Claude Cormier who wrote (375)	12/21/1999 2:12:00 PM
From: Ptaskmaster	Read Replies (1) \| Respond to of 976

Claude: I don't claim to understand fully the debt/notes/preferred issue, but note that many mining companies have substantial debt. It is clearly in Kaiser's interest to see NAP producing efficiently and in the black, with a much higher share price, before converting the Series A preferred to common shares. And Kaiser has taken the long view here. NAP at least is fully exposed to the recent rise in pgm prices, unlike Stillwater which continues to hedge a very large proportion of its future production. Ptask