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

To: Gary K who wrote (723)	4/17/1998 7:33:00 PM
From: D McP.	Read Replies (1) \| Respond to of 1474

Sorry, not going. Anyone else? D.McP.

To: Gary K who wrote (723)	4/20/1998 9:57:00 AM
From: DRT	Respond to of 1474

At these prices (1.60), a return to the recent trading range (1.90-2.00 range) nets 20%. Any positive news on Wolf Mt. and we should see greater market stability and higher prices. You are on your own re. whether or not to buy. I'm not an investment advisor. FYI. 1. Platinum Guild International: This Week In Platinum, Number 408, April 17th, 1998: Palladium Spot Price Surpasses Gold Platinum And Palladium Lease Rates On The Rise Again - Spot palladium prices surpassed gold this week, the first time this was seen since before the collapse of the Bretton Woods agreement in the early 1970s. One-month lease rates for palladium are currently at 90% per annum, as industrial consumers scramble for physical supply. Spot palladium hit a high of $350 an ounce in trading mid-week. Reuters reported that dealers were "worried where their next ounce was coming from as the continued absence of 1998 Russian shipments starved the market of metal." Russian supply delays in shipping platinum group metals tend to have a more pronounced effect in the palladium market than in the platinum market. as the majority of palladium is produced in Russia and the majority of platinum is produced in South Africa. - Wednesday's news that acting Prime Minister Sergei Kiriyenko had signed one of the key documents allowing exports of metals has been tempered somewhat by statements made by Gokhran official Valery Goncharov, who said that it may be "several more weeks or months" before shipments from Russia resume. An Almaz official indicated recently that supplies of pgms out of Russia would be roughly the same as last year. Shipments of platinum group metals (pgms) are considered unlikely until the formation of a new government in Russia. Russian president Boris Yeltsin is encountering difficulties in getting his nominee for Prime Minister, Sergei Kiriyenko, passed with the Russian lower parliament. - Refco's James Steel told Reuters that "No metal has actually left Russia yet and lease rates remain high, so PGMs could be a buy again before long, once the current round of profit taking is done." By Friday morning of this week, prices evened off. - According to a report in the Europe edition of The Wall Street Journal, RAO Norilsk Nickel's director of investor relations Pavel Skitovich indicated that Norilsk Nickel is working with the government to alter legislation forbidding disclosure of metal reserves. Estimates of the amount of platinum reserves held by Norilsk, who is the second largest producer of platinum in the world, are pivotal in many analyst's forecasts for future platinum supply. Currently the figures for Norilsk's platinum reserves are a state secret, making it illegal for Norilsk to give analysts and potential investors the kind of information that western mining companies routinely disclose. The report, written in early March of this year, said that changing the "state secret" rules rested with Prime Minister Viktor Chernomyrdin. Mr. Chernomyrdin has since been sacked, and Russian President Boris Yeltsin is currently working on obtaining parliamentary approval for Chernomyrdin's succesor, Sergei Kiriyenko. - The US National Research Council said this week that hybrid cars, which combine diesel and electric power, are too costly and are unlikely to meet environmental standards. The Financial Times reported that the council recommends other types of engines to meet heightened emissions requirements. Platinum-using fuel cell vehicles are currently being developed that will have little difficulty passing the more stringent standards. 2. American Metal Market: News in Brief - April 17, 1998: Palladium stocks down at Nymex - (NEW YORK) -- The New York Mercantile Exchange said on Friday morning its warehouse stocks of palladium fell by 8,800 ounces to 8,800 ounces while platinum stocks were unchanged at 36,550 ounces since the close of business April 9. ________ DRT