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Gold/Mining/Energy : SOUTHERNERA (t.SUF) -- Ignore unavailable to you. Want to Upgrade?

To: Letmebe Frank who wrote (6773)	1/21/2002 7:50:11 AM
From: Gord Bolton	Read Replies (1) \| Respond to of 7235

Messina was briefly a potential palladium mine when palladium topped out over US$1000 per ounce. Ford and many others were tooled up for using palladium as opposed to platinum because it was both cheaper and more plentiful. However, the Russians can virtually control the palladium market through intention or bureaucratic screwups. Platinum is twice as efficient as a catylist for many applications. I think that Messina was aquired and is being developed with an eye on fuel cell developments. Unless you have not noticed the recent flurry of buying activity in SUF is coincident with Washinton's plans to expedite development of fuel cell powered vehicles and infrastructure so that they will be in a position sooner as opposed to latter to say good bye to their precious friends in the Gulf. Ford's over exuberant purchases of palladium at high prices really will have little effect on Messina. It does however indicate how important PMs have become in the economy. Perhaps more companies will be looking for long term supply agreements and a piece of SUF.