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Gold/Mining/Energy : AVL.V - AVALON VENTURES -- Ignore unavailable to you. Want to Upgrade?

To: DRT who wrote (496)	1/28/1998 10:12:00 AM
From: DRT	Respond to of 1474

FYI. Wolf Mountain related ... From today's Yahoo 'Mining News', Stillwater's MARKET DISCUSSION: "1997 was an exciting year in the platinum and palladium industry. The year started with prices of both metals being depressed. Platinum traded at a low of $340 per ounce in December 1997 and rose to $525 per ounce in June 1997. It closed at $362 per ounce on December 31, 1997. Palladium was also very volatile during 1997, trading at a low of $115 per ounce in January 1997 and a high of $245 per ounce in August 1997. It closed in December 1997 at $204 per ounce. The swings in the prices of both metals were apparently due to shifts in supply from Russia. It is estimated that Russia delivered 30% less platinum group metals in 1997 compared to 1996, and a large portion of this metal came from above ground stockpiles. Industry estimates show that Russia has supplied palladium at two to three times its mine production rate in recent years with a resulting reduction of above ground stockpiles. Russia supplies about 60% of the palladium used worldwide. Reports from the market indicate that supply for both metals remains uncertain year to date. Russian central bank officials have publicly stated the bank wants to receive the highest possible profit from palladium exports, and decisions to sell or not to sell will be based solely on the market situation. At the same time, palladium markets continue to grow, with 1997 demand estimated to have increased by 20%. Automotive catalyst usage continues to be very strong. The recent announcement by a major automotive manufacturer about its plans to lower emissions for sport utility vehicles is another example of the increased usage of palladium in this application. The gap between supply and demand for palladium could widen significantly with increasing clean air standards imposed throughout the world. Platinum supply and demand is more in balance than palladium and is projected by industry sources to grow moderately." DRT