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

To: Kim Johnson who wrote (522)	3/9/2000 1:36:00 AM
From: Elizabeth Andrews	Read Replies (3) \| Respond to of 976

You are not correct about this. If you read the Norilsk annual reports you will find that the major amount of Pd produced is associated with a high grade copper core in ONE deposit. In Russia, it has nothing to do with mining a nickle rich ore that has PGE credits that are mainly Pt and others but the majority og the Pd is associated with a copper rich massive sulfide that has very little nickle or Pt or Au. That high grade copper-palladium deposit may in fact be mined out and the Russians may not have any way to flood the market with Pd by increasing production. The ratio of Pt to Pd in the Bushfeld is about 2 Pt to 1 Pd. The U2 reef is richer in chromite and has a higher ratio of Pt to Pd. They also can't expand production in the short term. These are difficult properties to mine as the ore zone is only inches thick. The only property that can do this with Pd is PDL. The ratio of Pd to Pt is about 20 to 1.