platinum and palladium prices

Platinum US$1,375 and Palladium US$342.

PGM prices continue their upward climb and it seems they are gaining momentum. They are also much higher than those used in the Kalplats PFS. The combination of higher prices and additional resource will ensure that in the final BFS the Kalplats NPV will be a multiple of the USD 50 million NPV coming out of the PFS.

Also I think the strength of the SA Rand is not really a long term issue. The USD/ZAR exchange rate has just returned back to levels seen in June / July 2008 and will become rather insignificant when PGM prices rise 15-20% above current levels in 2010. The strength of the Rand further underpins my view that risk appetite has increased

Also interesting to see whether ncreasing Palladium prices will again put development of the Panton project back on the table.

BR
Max