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Gold/Mining/Energy : Houston Lake Mining [HLM-ASE] -- Ignore unavailable to you. Want to Upgrade?

To: WWS who wrote (85)	1/25/1999 12:56:00 PM
From: DRT	Respond to of 364

No question that demand for PGEs is likely to grow - as evidenced by planned expansion in output beyond 2000 (Stillwater and new mines in the Bushveld Complex, South Africa). Low-cost producers will be in the best position! HLM up to .21 is a positive sign. Here's hoping the Tib drill program is about to get going - all they need to do is prove up what the prospector found in shallow drilling! DRT

To: WWS who wrote (85)	2/2/1999 7:00:00 AM
From: DRT	Read Replies (1) \| Respond to of 364

The Pl/Pd price gap is now only $5.50 (U.S.) at $350.50 vs. $345.00. This article may also be of interest: Platinum Guild International: This Week in Platinum (Jan 29/99) Platinum moved below the $350 level towards week's end as palladium continued up past $330, as traders factored in the relative impact on the metals of Russian supply delays. While less than 20% of the world's platinum is of Russian origin, nearly 70% of the world's palladium comes from that country. Hence the relative impact delays bring to each metal's market. According to Bridge News, funds positioned themselves out of platinum toward the end of the week on mostly technical trading. The Bridge report said that there is little indication of Russian material hitting the market, and there is a lack of news on when shipments may commence. Reuters reported on Tuesday that, Stillwater Mining Co. Vice President of Metals Marketing, Bob Lapple, said he didn't expect to see Russian shipments of palladium in the first quarter, but added that consumer have now been conditioned to expect such delays and have stockpiled "three to six months of inventory, as has been evidenced in the the liquid lease market" to cushion against such delays." While in the short term this is more bullish for palladium than platinum, the two metals compete in some technological arenas. The diminished price-differential between the two metals, sustained for the past two years, has done away with any advantages to be had in price-based substitution. ___________ DRT