news leaking out....mineweb website, page-6

Wow some really interesting points raised in that article about the use of Platinum in Jewelery in the developing world.

Think about those numbers for a moment.

China consumed 2m ounces in 2009.

1.75m went into jewelry.

in 2008 this number was 850,000 oz.

So in 12 months, the fast growing middle class of that country doubled their consumption of Platinum.

If that trend continues, which I bet it will, the consumption of Platinum over the next 12 months for Jewelry will be 3,500,000 oz. Add in the balance of their consumption (non jewelry, assume static growth) is 3,750,000 oz of Platinum consumption.

The annual supply of platinum is only about 130 tons, or 4,500,000 oz.

Lets add in India's demand, and you get an idea about what is about to occur with the price of Platinum.

I am not at all concerned about Xstrata not taking up their option, we are on a winner here.

Kiril.

I hold.