If we look at the price chart of Palladium, Palladium's peak of around US$579/oz at the end of February, coincided with PGM's latest price peak of $1.625.
Palladium retraced to US$406 at the start of May - by that time PGM was back to 55c (before the rights issue, which pushed it down slightly further). Today Palladium is back up to around US$450. Just some evidence the bottom might be in.
It may be PGM is as much a play on the price of Palladium as anything else on the ASX?
Unfortunate as it is, the ice is melting in Greenland, a simple search of Google shows dozens of articles on this topic. This deposit will be mined one day, if not by PGM, but likely sold at an appropriate price to a major to develop.
Still can't believe market cap is around $22m.... surely a higher market cap is appropriate, even baseline case for where we're at now... considering Skaaergard was carried on Gallahads books (before they relinquished the licence on 19 may 2006) at 56.3m pounds! (AUD $117m). So even that points to a $2.96 shareprice minimum? (moving from $22m mkt cap to $117m mkt cap).
Thoughts?
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