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

To: Elizabeth Andrews who wrote (534)	3/31/2000 11:07:00 AM
From: Ptaskmaster	Respond to of 976

The London pm fix for palladium today was $573. TOCOM relaxed some restrictions on trading, and the Tiger fund holdings have been at least partially liquidated (below). We might not have to wait a few years for lower prices. I think PDL is currently unhedged. Plans to hedge new production will likely affect investor sentiment, particularly at a time when inappropriate hedging is a controversial issue in the gold mining sector. The NAP website has been changed, worth taking a look: napalladium.com Ptask __________________________ "Mystery surrounds palladium and Julian Robertson, Tiger's chief executive, confirmed that the fund had purchased sizeable amounts of the metal in 1998 when prices were around $150 an ounce. Market sources estimate that at one stage he held 250 000 ounces, a massive amount in the tiny market. Most dealers contend that the fund dribbled palladium on the market when it soared to unexpected heights in the past six months. US sources maintain that there is still a holding and believe that Tiger leased some metals at very high and profitable borrowing rates. In only nine trading since March 17, the price has collapsed by $105 to $605 and in an active market Engelhard has been a dominant seller and Goldman Sachs a buyer, dealers say. (Palladium hit a peak of $840 an ounce in February)." From Neil Behrmann, "Tiger fund big seller of metals and mining stocks" in Miningweb on Moneyweb mny.co.za