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Gold/Mining/Energy : ECHARTERS -- Ignore unavailable to you. Want to Upgrade?

To: Theo who wrote (1270)	11/9/1997 9:38:00 AM
From: Bill Jackson	Read Replies (1) \| Respond to of 3744

Theo; Have you ever given a thought to the downward potential on price if IPM and NAXOS find all the reputed platinum? Aluminum was worth $500 an ounce before the hall process made it $1 a pound. Platinum has only industrial use(+ tiny jewellery and coinage market) and is not used as a national value store like gold. If all that platinum from Naxos and IPM came on stream platinum would end up under $30 per ounce due to huge oversupply, and IPM and NAXOS would compete and drive the price lower. All the other producers would be dead in the water. The supposed leach process might have a fairly high cost and would limit how low either could go, as they would not go past the zero profit point. Bill