- Barrick Dogs NovaGold: Barrick is not to be easily dissuaded from its bid to acquire NovaGold. It's been a while since I've seen one company dog another like this so publicly. If you haven't read the below, it's worth a read. I'm guess it will lead to a law suit or two being filed by NG.
Related News Release: [http://biz.yahoo.com/iw/061117/0186161.html]
- Update on Platinum ETF: Looks like people are now getting sceptical about a platinum ETF coming out as no filings in connection therewith have so far beeen made. Platinum made what looks like a reversal spike up, going as high as $1400 per ounce before falling back now to $1145 per ounce, all during the last day and a half. Because people voiced the same scepticism about the Silver ETF (that there's not enough liquidity in silver to allow an ETF), it's hard to know what to make of the rumors. However, one statement did catch my eye in the article below: "The longer term prospects for platinum demand have been damaged by this move. It will accelerate substitution efforts from industrial users of the metal and with Chinese jewelers unable or unwillingto buy platinum ahead of Chinese New Year it will prompt a switch to other precious metals--white gold, yellow gold and palladium," according to UBS analyst John Reade. I have a feeling that this big spike in platinum prices may mean good things still to come for palladium, and so I haven't yet sold my PAL holdings.
Related Article: [http://www.platts.com/Metals/News/8748768.xml?sub=Metals&p=Metals/News]
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