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Gold/Mining/Energy : SOUTH AFRICAN MINING -- Ignore unavailable to you. Want to Upgrade?

To: sea_urchin who wrote (372)	2/7/1999 5:19:00 PM
From: Ptaskmaster	Read Replies (1) \| Respond to of 472

There certainly are few alternatives to the South African pgm producers. Stillwater in Montana (no website) is much touted here due to substantial reserves of high grade ore, but is apparently somewhat overvalued. It split recently. North American Palladium in Ontario (http://www.napalladium.ca ) is small but contributes a healthy percentage of North American palladium production. It doubled in price recently. Palladium appears to be in short supply worldwide. Its price now regularly exceeds that of gold and sometimes even platinum. Much of this of course is due to concerns regarding Noril'sk geological reserves, ore stockpiles and Russian exports. Unlike Anglogold, which can find or buy good gold mines and prospective properties to expand elsewhere (such as into North America), Amplats appears to be stuck in South Africa. Why does Anglo seem so intent on it? I understand that there is a new initiative for all mines to use or lose their reserves. Is Amplats, Impala et al at risk from this or other political initiatives in the near future?