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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 (381)	12/22/1999 5:20:00 PM
From: dave brown	Read Replies (1) \| Respond to of 976

If we consider the deposit now contains 4.686 million ounces palladium 508,000 ounces platinum and roughly 100 million pounds each of copper and nickel. Gross metal value at todays prices of approx. $3 billion. Last years production rate of 2400 tonnes per day produced approx. 85,000 ounces palladium, 5,000 ounces platinum, 5,000 ounces gold, four million pounds nickel and 3.9 million pounds copper. They are now talking about cranking up the production rate to 35,000 tonnes per day by September 2000. This relatively small debt will be paid off quite easily and quickly after the production increase. In addition, I hear they are planning to conduct 100,000 feet of drilling to increase reserves and test a number of higher grade targets identified on the property. The deposit is open at depth and we know these types of deposits can continue for thousands of feet. It would seem to me that PDL will likely move higher from here yet. Although I agree the current debt seems large at current production rates, however should be a none issue moving forward. Sustained pt/pd prices will definitely help. I think current shareholders are going to be in for a pleasant surprise. You've provided good honest posts. I hope to add more to this thread in the near future.