commodities

Wenn, wie Niquet glaubt, eine Korrektur kommen soll, dann heissst das mal erstens, dass eine beachtliche Hausse schon gelaufen ist, die er wohl total verschlafen hat.
Immer noch in Niquet's Logik : Warum soll man ausgerechnet vor einer Korrektur kaufen ? Und wenn man dann kaufen soll : warum nur für die Hälfte des Cash das man gemacht hat weil man Aktien verkauft hat ? Welche Aktien soll man verkaufen ? Warum ?
Die Antwort weiss ich auch nicht, aber ich bin erstens kein Experte und zweitens gibt mir auch keiner Geld dafür, dass ich Schwachsinn poste.
Ehe ich das vergesse : Schau dir mal den Schwachsinn an, der B.N. zu Gold postet und gepostet hat. Er glaubt nur Weltuntergangsfanatiker und Crashpropheten hätten in Gold und Silber investiert (das sind auch Rohstoffe !), kommentiert sber nicht weiter, dass Gold sich in den jahren wo er den Quatsch geschrieben hat um 280 USD verteuert hat.

Boff könnte mit seiner Vermutung im Silberthread "Gold" richtig liegen.
Folgende Charts zeigen das die Minenaktien dem Goldpreis stark vorausgelaufen sind. Genauso wie beim letzten Hoch in 2004. Die Party könnte also bald vorbei sein.

Hier zuerst Hui/Gold:
Mit der Strategie kaufen wenn unter 0.4 verkaufen wenn über 0.6 hätte man ein sehr gutes Timing erreicht. Leider kann man nur die letzten 3 Jahre betrachten bei Stockcharts.com

im Vergleich der HUI Chart mit dem Top 2004:
der PPO notiert auch schon im Bereich der alten Hochs...

nun der Xau/Gold:
Hier wäre es sehr profitabel gewesen unter 0.2 zu kaufen und über 0.26 zu verkaufen.

nun nur der Xau
der PPO notiert über den alten Hochs.

jetzt mal nur Gold.
auch hier notiert der PPO im roten Bereich..

Die Linie da unten scheint recht anziehend zu sein...

Mit den Postings oben habe ich ja auf den Tag genau den Höhepunkt erwischt. (zumindest vorläufig)
Ein Wiedereinstieg könnte im Juni/Juli/August lohnen.

Natürlich weiß ich es diesmal wieder besser, aber der Spiegel ist oft das ultimative Verkaufssignal.

danke für den Hinweis value. Den "Spiegelindikator" nehme ich auch sehr ernst.

Die saisonale Zyklik spricht für ein Top bei Silber und fallende Kurse für Gold und Goldminen. Zur Zeit habe ich nur die halbe Portion HUI zurückgekauft weil ich einen Rückgang bis auf 260Punkte erwartet habe. Den aktuellen Anstieg im HUI interpretiere ich zur Zeit noch als Bullenfalle / Korrektur im (mittelfristigen) Abwärtstrend. An ein Ende der Korrektur glaube ich erst bei einem Wochenschlußkurs über 335Punkten.

Zitat

Original von buffet
HAllo,
folgenden Text habe ich auf faz.net unter dem Titel "Platin Rally vor dem Ende?" gefunden:
05. Dezember 2005 Innerhalb von vier Jahren hat sich der Preis für Platin mehr als verdoppelt. Doch jetzt droht der Rally die Puste auszugehen. Denn die Automobilindustrie, angeführt von General Motors Corp., setzt auf das preisgünstigere Palladium als Alternative in der Verwendung bei Autokatalysatoren.

Platin findet eine breite industrielle Verwendung, von Katalysatoren in Autoauspuffanlagen bis hin zu Schmuck. Der weltgrößte Platinhändler, Johnson Matthey, schätzt, daß sich Platin in der ersten Jahreshälfte 2006 um 10,5 Prozent auf 890 Dollar je Feinunze verbilligen wird. Zum Vergleich: Der Preis für Palladium liegt bei 270 Dollar je Feinunze. GMKN Norilsk Nickel, der weltgrößte Palladiumproduzent geht davon aus, daß die Nachfrage nach Palladium im nächsten Jahr um 63 Prozent ansteigen wird, da auch Schmuckhersteller verstärkt Palladium statt Platin verwenden werden.

Platin wird in der Industrie zunehmend durch Palladium ersetzt

Wir erwarten einen deutlichen Nachfragerückgang, da Platin zunehmend durch Palladium ersetzt wird, sagte Wolfgang Wrzesniok-Rossbach, Leiter Marketing und Vertrieb bei Heraeus Holding in Hanau gegenüber Bloomberg News am 28. November. Bei diesem Preisniveau ist die Nachfrage nach Platin aus der Industrie nicht sehr hoch. Der Preis für Platin am Tagesmarkt fiel am Montagvormittag in London 0,5 Prozent auf 996 Dollar je Feinunze. Zuvor hatte das Edelmetall mit 1.008 je Feinunze den höchsten Preis seit März 1980 erreicht.

Der Platinpreis schnellte in den letzten vier Jahren von einem Tiefstand im Jahr 2001 bei 406,50 Dollar je Feinunze nach oben und legte in diesem Jahr fast 16 Prozent zu. Damit verteuerte sich Platin für die Verbraucher. Gleichzeitig bekamen die Aktien der Bergbauunternehmen einen Schub: Anglo Platinum hat in den vergangenen zwölf Monaten die Wertentwicklung des Morgan Stanley South Africa Index angeführt.

Die Edelmetalle Platin und Palladium, die hauptsächlich in Südafrika und Rußland abgebaut werden, werden in Autokatalysatoren verwendet. Im Schnitt werden pro Katalysator vier bis fünf Gramm eingesetzt, teilte Johnson Matthey mit. Platin wird auch bei der Herstellung von Computerbildschirmen verwendet. Die größte Nachfrage nach Platin haben mit rund 57 Prozent die Hersteller von Autokatalysatoren, gefolgt von der Schmuckindustrie mit 30 Prozent, berichtete Johnson Matthey weiter.

Umicore, weltweit drittgrößter Hersteller von Autokatalysatoren, stellte in diesem Jahr Dieselkatalysatoren vor, in denen sowohl Platin als auch Palladium verwendet werden. Der Preis für Palladium ist gegenüber Platin sehr niedrig, sagte Umicore-Sprecher Geoffroy Raskin gegenüber Bloomberg News am 28. November. Ersetzt man Platin durch Palladium, erhält man einen wesentlich kostengünstigeren Katalysator. Das erlaube der Automobilindustrie auch eine höhere Flexibilität, da sie in Zukunft zwischen den beiden Edelmetallen wählen kann. Mit Hilfe der neuen Technik sei Umicore in der Lage, bis zu 25 Prozent des Platins durch Palladium zu ersetzten, sagte Raskin. General Motors hat seine Auspuffsysteme so entwickelt, daß Platin durch Palladium ersetzt werden kann wenn eines der Metalle zu teuer wird, teilte GM-Sprecher Tom Hill in Detroit mit.

Hoher Preis dämpft auch Nachfrage aus der Schmuckindustrie

Die Platinpreise dürften auch dadurch unter Druck geraten, daß Autobauer wie Ford Motor und Toyota Motor verstärkt auf die Produktion von Hybridfahrzeugen setzten, die sowohl einen Verbrennungsmotor als auch einen Elektromotor aufweisen. Wir sehen Hybridfahrzeuge als Belastung für die Nachfrage nach Metallen der Platingruppe, schrieb Robin Bahr, Metallanalyst bei der UBS in London in einem Bericht am 28. November in London.

Die Platinproduktion bleibt in diesem Jahr um 120.000 Feinunzen hinter der Nachfrage zurück, erklärte Johnson Matthey in einem Bericht am 15. November. Die Produktion blieb aufgrund einer Explosion in einem Platin-Schmelzofen von Anglo Platinum im südafrikanischen Polokwane unter den Schätzungen der Analysten zurück.

Die Nachfrage nach Platin durch die Schmuckindustrie dürfte in diesem Jahr um sechs Prozent auf 2,02 Millionen Unzen zurückgehen, da die Rekordpreise die chinesischen Verbraucher abschrecken dürften. Die Nachfrage nach Palladium hingegen dürfte in China in diesem Jahr um 71 Prozent auf 1,2 Millionen Unzen steigen, schätzte Johnson Matthey. Damit würde sich ein Produktionsüberschuß bei Palladium in diesem Jahr um mehr als 50 Prozent reduzieren auf 650.000 Unzen.

Text: Bloomberg
Bildmaterial: AP, Bloomberg

Was meint Ihr, ist das nicht eine herrliche Vorlage für einen put auf Platin?
Und was haltet ihr von den aktuellen Weizenpreisen?
Ich kenne mich leider bei Weitzen nur wenig aus, habe aber in der FAz gelesen, dass wohl hörere Nachfrage als Angebot besteht.
Was den Chart angeht, sieht es doch als Antizykliker nicht schlecht aus.
Allerdings meine ich hier natürlich einen call.
Euer Buffet

Alles anzeigen

was in dem FAZ Text nicht erwähnt wird ist die Euro-Norm V, die ab 2008 für Katalysatoren gelten wird

Zitat

Haupteinsatzgebiet für Palladium ist die Katalysatorenherstellung für Kraftfahrzeuge. 66% der Palladiumproduktion entfallen auf diesen Bereich.
In der Elektrotechnik werden 17,8%, in der Zahntechnik 13,8% verarbeitet. Weitere Einsatzbereiche sind die chemische Industrie und in geringem Maße auch die Schmuckindustrie.

In der aktuellen Katalysatorengeneration (Euro-Norm III) und in der im nächsten Jahr gesetzmäßig vorgeschriebenen neuen Generation
(Euro-Norm IV) kann sowohl Platin als auch Palladium verarbeitet werden. Dies wird sich mit der Euro-Norm V ändern. Sie wird ab 2008 gelten.
Um den Schadstoffgehalt weiter zu reduzieren, müssen die Abgase bei sehr hohen Temperaturen verbrannt werden. Da Palladium bei Temperaturen bis 950°C eingesetzt werden kann und Platin nur bis 650°C, wird die Nachfrage nach Palladium dann kräftig zunehmen. Dies gilt für die nächste Stufe der Euro-Norm in 2010/2011.

http://www.geld.com/microsites/rohstoffe/palladium.htm

oder etwas reisserischer:

Zitat

Bei Palladium ist die Rallye nicht schon gelaufen - sie steht erst noch bevor.

Der Grund für den Verfall des Palladiumpreises war der Aufstieg des artverwandten Platins (beide Metalle gehören zur Platingruppe). Platin war 1999 deutlich billiger als Palladium, das damals nahe seiner Höchststände notierte. Beide Edelmetalle werden vor allem in der Produktion von Autokatalysatoren verwendet. Da Platin damals deutlich billiger war, wechselten die Autobauer natürlich vom teueren Palladium zum billigeren Platin. Seitdem ist Platin auf über 1.000 US$ gestiegen und Palladium auf aktuell 270 US$ gefallen.
Doch jetzt wendet sich das Blatt.

Jetzt ist Palladium der billigere Rohstoff. Und nicht nur das. Es gibt eine Entwicklung, die vom Markt noch völlig verkannt wird. Denn beim Katalysator-Bau tritt ab 2008 die neue Anti-Verschmutzungsstufe namens Euro-Norm V in Kraft. In Japan soll übrigens parallel eine gleiche Norm-Stufe Gesetz werden. Bei den bisherigen gesetzlich vorgeschriebenen Stufen wie der aktuell gültigen Euro-Norm III oder der Euro-Norm IV, konnten die Autobauer bisher sowohl das teure Platin als auch das billigere Palladium einsetzen.

Aber: Um die gestiegenen Anforderungen der Schadstoff-Regulierung der Euro-Norm V zu erfüllen, müssen die Auto-Abgase bei extrem hohen Temperaturen verbrannt werden. Doch Platin kann nur bis 650 Grad Celsius verwendet werden. Palladium ist hingegen bis 950 Grad einsetzbar. Die Autobauer werden also zwangsläufig auf Palladium umsteigen.

Alles anzeigen

http://www.investor-verlag.de/…page=ri-06-08&code=ri5210

Palladium wurde hier ja schon in diversen Threads erwähnt, Stillwater und North American Palladium fallen mir da spontan ein aber ich dachte es paßt am besten hier rein.

Gruß

Spoil

Zitat

Original von Spoilsport
Bei den bisherigen gesetzlich vorgeschriebenen Stufen wie der aktuell gültigen Euro-Norm III oder der Euro-Norm IV, konnten die Autobauer bisher sowohl das teure Platin als auch das billigere Palladium einsetzen. Aber: Um die gestiegenen Anforderungen der Schadstoff-Regulierung der Euro-Norm V zu erfüllen, müssen die Auto-Abgase bei extrem hohen Temperaturen verbrannt werden. Doch Platin kann nur bis 650 Grad Celsius verwendet werden. Palladium ist hingegen bis 950 Grad einsetzbar. Die Autobauer werden also zwangsläufig auf Palladium umsteigen.

Interessant, der zwangsweise Einsatz von Palladium aufgrund der Euro-Norm V war mir noch nicht bekannt. Das ist natürlich ein starkes Argument für ein Engagement im Palladium-Sektor. Der Chart sieht auch so aus, als würde ein Anstieg bevorstehen:

Bei den vielen boomenden Rohstoffen hatte ich Palladium bislang gar nicht auf dem Kieker. Vielleicht wäre es an der Zeit, dies zu ändern. Zu spät ist es auf jeden Fall noch nicht.

Kennt noch jemand aussichtsreiche Palladium-Produzenten oder -Explorer?

Ich fange mal an mit der Palladium-Liste:

1. Norilsk Nickel

NORILSK MINING CENTRE NICKEL, PALLADIUM AND COPPER PRODUCTION FACILITY, RUSSIA
The Norilsk mining centre lies in the Russian High Arctic, about 2800km north east of Moscopgw. The world\'s leading nickel and palladium producer, and a significant supplier of copper, the operations support a community of some 300,000. Direct employment is around 80,000, with plans to halve this within ten years.

The Norilsk deposits were discovered during the 1920s, with nickel production starting during the Second World War. Underground mining began in the 1950s. The operating company was privatised by the Russian government in 1995, and is now controlled by Unexim Bank. The company also controls the Severonkel and Perchenganikel nickel mines on the Kola Peninsula, south of Murmansk, and has significant investment holdings in Stillwater Mining Co., operator of the Stillwater platinum mine in the USA, and in the South African gold producer, Gold Fields Ltd.

GEOLOGY AND RESERVES

The copper-nickel-Platinum Group Metal (PGM) deposits at Norilsk lie at a depth of between 500m and 1500m beneath a series of flood basalts and sediments. The massive sulphide orebodies are hosted within the Talnakh intrusive complex. Ores can be high-nickel or high-copper in grade, some of the direct-smelting copper ores containing up to 32% copper. PGMs include platinum, palladium and rhodium. Reserves are reportedly sufficient to support 50 years\' output at current rates.

UNDERGROUND MINING

Norilsk uses a sub-level caving mining method, the completed stopes then being backfilled for support. Stopes are mined 120m long, 8m wide and 10m thick using mechanised drilling and ore loading equipment that has predominantly been supplied by Atlas Copco. The company had sold approaching 400 units, including drilling jumbos, load-haul-dump machines and raise borers, by early 2001. Other suppliers include Boart Longyear (drilling equipment) and Putzmeister (backfill pumps).

Output is obtained from five underground mines, the principal currently being the Oktyabrskiy, Komsomolskiy and Taymirskiy units, which account for about 60%, 15% and 10% of annual Russian PGM production respectively. Oktyabrskiy produces about 70% of the operation\'s copper and 55% of its nickel.

The Skalistiy mine came on stream in the late 1990s at a cost of some $600 million, and Glubokiy mine is now under development these two units alone have reserves of some 70Mt of ore. Norilsk Nickel also operates the Kayerkanskiy opencast coal mine, some 30km from the city, to supply power station fuel; the operation uses two Liebherr R992 hydraulic excavators and a fleet of Belaz 40t and 70t-capacity haul trucks.

ORE PROCESSING

Norilsk Nickel\'s Siberian operations include two ore concentrators, capable of treating 11Mt/y of ore, and three smelters with a combined capacity of 350,000t of copper and 160,000t of nickel. Sulphide ores are first pre-concentrated using heavy-medium separation, then treated by flotation to recover copper and nickel concentrates for smelter feed. Capacity at the Nadezhda metallurgical complex, which uses Outokumpu flash smelting technology is being increased, while the Medny copper smelter is also being upgraded to 400,000t/y. PGM concentrates are refined at the Krasnoyarsk metallurgical complex and at the Prioksky plant near Moscow.

PRODUCTION

Between its various operations, Norilsk accounts for about 90% of Russia\'s nickel, 55% of its copper and virtually all of its PGMs. Only recently has the company begun to publish official figures for its output of nickel and copper, with the possibility that it may begin to release platinum-group metal production figures some time in 2005. Over 90% of its sales are to foreign customers.

The complex achieved its maximum output of around 250,000t of nickel in 1989. For 2004, it reported the production of 243,000t of nickel and 447,000t of copper, with a similar output predicted for 2005. Estimates of its PGM production during 2004 were 853,000oz of platinum and 2.73Moz of palladium

Eher etwas für wagemutige Naturen:

2. Eurasia Mining

Infos aus dem Jahresreport:

Eurasia Mining Plc

PRELIMINARY ANNOUNCEMENT OF AUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2005

Chairman\'s Statement

It is a pleasure to report to you this year as our company embarks on the major voyage that it has been charting for
over two years. The company has completed the acquisition of four important platinum projects that will see substantial
investment this year at no cost to shareholders. We are managing these projects together with our partner Anglo Platinum
Limited and are starting new gold ventures, partly in alliance with AngloGold Ashanti Limited.

In February 2006 we announced an agreement for the purchase of two Russian companies holding three exploration licences
in the Kola peninsula near Murmansk in northwest Russia. Here, early results lead us to believe that exploration work
could lead to the discovery of significant platinum mineralization. Anglo Platinum agrees with us and through our joint
venture company we have commenced a work programme. This year we are undertaking a $2 million programme that will be
funded by Anglo Platinum but as work progresses we expect this to accelerate in 2007. Anglo Platinum is funding the
first $10 million of expenditure as part of our joint venture agreement, explained more fully in the Operations Report.
We are very encouraged by the early results from these areas and look forward to reporting on our work as the field
season progresses.

In the Urals, we were finally reissued with the exploration licence on the West Kytlim area for alluvial platinum and
fieldwork began immediately. The first drill rig arrived on site in September and work continued into the winter. We
reported our first detailed results to you in April 2006 and this has confirmed our confidence in this project. The
excellent results hold out promise for the first two target areas, one of which is a new discovery. If work progresses
as planned this summer we hope to lodge an application for a mining licence for production in 2007. The aim of the
programme is to design a project capable of producing 15,000 ounces of platinum per annum, beginning in 2007. Further
exploration work will also be focused on other targets in the licence area, which could add to the potential.

In Siberia, we have been working with AngloGold Ashanti Limited on a number of gold targets and exploration projects for
which further information will be provided when final title has been established. Our efforts have been concentrated on
areas where there has been historic alluvial production from placer mining for decades but where bedrock exploration is
at an early stage. Our agreement provides for the first $2 million of expenditure to be provided by AngloGold Ashanti
before Eurasia begins to contribute an equal proportion of expenditure. In addition, the company has been assessing a
number of gold production opportunities in conjunction with a potential Russian partner.

In summary, we believe that Eurasia\'s work over the past two years has now borne fruit and we look forward to developing
the company into a significant presence in Russia. This development is set against a background of a changed mining
industry, both in Russia and worldwide. The major rise in commodity prices over the last three years is the main driving
force behind a dramatic increase in activity. The industry has become very competitive as a growing army of mining
companies move to secure mineral assets. At the same time, the increased activity has led to a shortage in both manpower
and materials, increasing capital and operating costs. However, we have deliberately held back from moving too quickly
in the current market, combining our own independent work with partnerships that spread the risk and reduce overheads on
higher risk activities. The plan in the coming year is to build on this solid platform and use the imminent revenue from
production to strengthen and expand our portfolio.

At the moment the company has a small and experienced board and management team that will be expanded as the company
grows. On a sad note, John Mitchell passed away during the year. John was a founder director and former chairman of the
company and his advice and support will be missed.

None of our success would have been possible without the dedication of our small but talented executive team based in
London, together with our professional staff working in Russia. Many of our Russian staff have been with the company for
some time and have sustained our efforts when life was not easy. On behalf of you all I thank them and look forward to
us all reaping the rewards in the coming years.

Dr. Michael Martineau
Chairman

OPERATIONS REPORT

Over the past twelve months Eurasia has completed the acquisition of four projects on which it has been working for
several years. This delay arose due to the formalities involved in completing both licence agreements as well as the
corporate transactions. In order to bring shareholders up to date with these projects this report summarises the
technical background of these areas, the results obtained to date, their potential and the plans for the future. The
information includes results up to April 2006.

Urals Alluvial Platinum Joint Venture

The Urals Alluvial Platinum project is a 50:50 joint venture with Anglo Platinum Limited, the largest platinum metal
producer in the world. It is operated by Eurasia through jointly owned Urals Alluvial Platinum Limited, a Cyprus
registered company. The joint venture commenced work in 2000 and has worked on a number of licences, seeking
economically viable alluvial platinum deposits in the Urals. This work is funded 100% by Anglo until a project
feasibility study has been completed. This year most of the work has concentrated on detailed appraisal of the West
Kytlim area.

Historical production of platinum from alluvials in the Urals region over the past 150 years totals some 500 tonnes (16
million ounces), and small scale production continues today. The joint venture has identified small platinum resources
over the last 5 years but to date most of these have been too small to be viable for the joint venture.

The joint venture continues to assess new areas for their platinum potential. Currently the West Kytlim licence is the
only area held but it is expected that new areas will be applied for in the near future.

For a number of years the joint venture has been seeking to acquire an interesting area in the central Urals where it
seemed that significant untested potential for large alluvial platinum concentrations remained. In March 2005 an
exploration licence was granted for the West Kytlim area but work commenced only in September as a number of detailed
administrative issues had first to be clarified.

West Kytlim

Located approximately 350 km north of Ekaterinburg, the Kytlim district itself has produced approximately 50 tonnes (1.6
million ounces) of alluvial platinum to date. The joint venture holds a 75% interest in the West Kytlim project, with
the remaining interest held by Production Artel Yuzhno-Zaozersky Priisk, a successful local alluvial platinum and gold
mining company.

The exploration licence covers an area of 171km2 over a drainage system which was partially worked for alluvial platinum
in the past by dredging and manual methods. The joint venture is targeting previously unworked and untested terrace
gravels, as well as the tailings from past production which can be reworked to recover residual platinum using modern
processing technologies.

In April the first drill hole results were announced that have allowed a preliminary assessment of the resource
potential of two targets in the licence area. The two targets tested are terraces to the south of the Tylai River and a
smaller area on the Bolshoya Sosnovka river, a tributary of the Tylai.

Drill results from the first traverse across the Tylai terraces average 335 milligrams per cubic metre (mg/m3 - the
standard method of reporting drill results for alluvial deposits) over a surface width of 320 metres (m) and an average
thickness of 3.2m. Details of the results are provided on the company\'s web site www.eurasiamining.co.uk.

The deposit lies under 1 - 8m of barren river sediment which hitherto has concealed the deposit from previous mining
activity. The results are consistent with Eurasia\'s exploration model, which has identified this target as being
approximately 5 km long on the south side of this river with an estimated total potential volume of 5.1 million m3. A
second as yet untested target remains to be explored on the north side of the Tylai river.

In addition to this virgin discovery and located near the headwaters of the Tylai river, a second drill traverse at
Bolshoya Sosnovka has identified material comprising both tailings from an earlier dredging operation and blocks of
remnant un-mined material that average 320 mg/m3 from surface, over thicknesses of 3.6 to15.3m. Eurasia\'s work indicates
a potential volume of 3.7 million m3 over a surface width of some 200m and a potential length of 2 km. A number of small
producers in the Urals are economically extracting platinum at grades of 100 to 150 mg/m3.

An intensive drilling programme continues with the aim of delineating blocks of mineralisation to be test-mined and
processed during this (2006) summer using a plant that has been constructed by Eurasia. Additional target areas within
the licence area have yet to be assessed by drilling.

Following test mining and the definition of mineable reserves, a mining permit will be applied for. Processing of
alluvial sediment is simple in principle, with excavation and washing of the platinum bearing sediments carried out so
that a heavy minerals concentrate is produced. This concentrate consists of platinum rich particles as well as other
heavy minerals such as chromite and magnetite. This concentrate is further processed to leave the platinum concentrate,
which consists primarily of a mineral alloy called isoferroplatinum. The platinum concentration of this alloy ranges
from 78% to 89% with iron and copper comprising most of the remainder, with trace gold, silver and other platinum group
metals. This material is sold directly to refineries, with payment based on the recovered metal. As this material is
high grade the refining costs are minimal compared to the sulphide rich materials forming the bulk of the world\'s
platinum production.

Resource estimates for alluvial projects are constructed differently from those calculated on hard rock mineral
deposits. The grades are reported as the recovered weight of platinum concentrate measured against the volume of
sediments sampled or extracted. Drilling of samples proceeds on a grid which is designed for approval of reserves by the
Russian authorities - an essential step for obtaining a mining permit. At West Kytlim, two drillhole profiles, one on
each target area, provide an early indication of the grade of platinum, the distribution of metal in the sediments and
the thickness and extent of the mineralised layers.

So far two potential areas of production have been identified. As the capital costs for mining these projects are
modest, helped by using equipment owned by our local partner, Eurasia expects to see cash flow in 2007 if a mining
permit is obtained in time for the summer season.

Other Urals Areas

A licence held 75% by Eurasia\'s subsidiary Eurasia PGM Limited has recently been renewed at Baronskoye. Here Eurasia
discovered palladium-gold mineralisation in 2001 and outlined an area which may have potential for the development of a
small open pit project. Work this year is looking at metallurgical options which will determine the economics for such a
project.

Kola Peninsula

In February 2006 Eurasia agreed to acquire two companies which hold three exploration licences in Murmansk Oblast
(region) in northwest Russia. This followed a long period of negotiation with the vendors while early exploration work
was underway. The three areas were acquired because of their good potential for bedrock platinum mineralisation. While
Eurasia had been seeking to acquire these projects for two years, the company was joined in late 2005 by its partner in
the Urals project, Anglo Platinum Limited.

The agreement to acquire a 100% interest in three large exploration areas on the Kola Peninsula in Murmansk Oblast,
Russia was met by paying $1.5 million and issuing 10 million new Ordinary Shares in Eurasia. The three licence areas are
Volchetundra, held by ZAO Yuksporskaya Mining Company, and Monchetundra and West Imandra, held by Joint Stock Company
Terskaya Mining Company. Simultaneously, Eurasia agreed with Rustenburg Platinum Mines Limited (Cyprus) (RPM), a wholly
owned subsidiary of Anglo Platinum Limited, to include these projects in their existing joint venture, by Eurasia
selling an 80% interest in the Russian companies into the 50:50 joint venture company, Urals Alluvial Platinum Limited.
RPM will acquire their interest by providing $1 million as part of the total consideration. On completion, Eurasia will
hold a 60% interest in the Kola projects.

Under the agreement, RPM will fund the first $10 million of Kola expenditure before both parties fund in proportion to
their equity interest. On completion of a bankable feasibility study or the completion of the $10 million expenditure,
whichever is the sooner, RPM have 90 days to purchase the 20% held by Eurasia for $6 million or $5 per ounce of platinum
group metals in Russian C1 and C2 categories, whichever is the lesser. Should RPM exercise this option, Eurasia would
hold 40% of the projects through UAP. RPM can also opt to require UAP to purchase this interest under the same
conditions. Exploration expenditure totalling approximately $589,000 incurred during 2004 and 2005 has also been
refunded to the vendors, of which Eurasia\'s liability represented $246,000.

The licences are located within 30 kilometres of the town of Monchegorsk in the centre of the Murmansk region. The town
has been a centre of mining and metal refining since the 1930s, principally of nickel and copper with PGM as by-product.
Iron mining is also an important industry located to the north of Monchegorsk. Consequently, good rail, road and power
infrastructure is in place in what would otherwise be a remote area north of the Arctic Circle. PGM mineralization was
discovered in 1996, associated with ultramafic and mafic intrusive complexes that extend over several hundred
kilometers. Exploration has only been carried out in recent years but with increasingly favourable results. Two other
western companies have been working on PGM exploration for a number of years, namely Barrick Gold and Consolidated Puma,
a company controlled by Bema Gold.

West Imandra

This exploration licence comprises a large area of 229 square kilometres and is granted for five years up to 30th
January 2009. Only early stage exploration for PGM has been undertaken with some trenching and drilling carried out
previously for chromite. The main targets for exploration are several prospective horizons in a large intrusion hosting
important layered units of chromitite towards the base and magnetite with anorthosite towards the top, both often
associated with PGM mineralisation. A sample from outcrop of a chromitite unit has assayed platinum at 1g/t. A recent
trench on anorthosite below the magnetite layers gave 2.94g/t of PGMs over a 1 metre-thick zone. The work programme for
2006 involves till geochemistry, geophysics and diamond drilling.

Volchetundra

This licence area, totalling 210 square kilometres, is situated some 20km northeast of the town of Monchegorsk. The
licence was granted for a period of five years that expires on the 15th July 2008.

The target geological feature in this area is a north-south, 40km long, 2-4 km wide early Proterozoic mafic intrusive
comprising mainly gabbros and anorthosites with ultramafic rocks at their base. These were intruded into Archaean
gneisses and developed a dioritic contact zone on the eastern basal contact of the intrusion. The western contact
appears to be tectonic.

Early stage exploration work has identified sulphide rich zones near the base of the intrusion. The northern half of the
area has been surveyed by till sampling and geochemistry with several anomalies defined for drill testing. Early stage
mapping, rock sampling and trenching have identified several bedrock targets for PGM. At the southern end of the
licence, weak nickel-cobalt mineralization is known from exploration work in the 1960s but has never been tested for
PGM.

Results of bedrock sampling in trench and outcrop have yielded a number of targets with anomalous PGM. Two zones are of
particular interest: one with grades of 0.7 g/t of platinum group metals over a thickness of 10 metres, and a second,
4.7 g/t of platinum, 4.6 g/t of palladium and 2 g/t of gold over a thickness of 2.6 metres.

The drill programme for 2006 will test the geochemical anomalies and also some of the early rock outcrop targets.
Further rock sampling, mapping and trenching will be carried out on the former base metal target areas.

Monchetundra

The Monchetundra exploration licence is granted for five years expiring on the 30th August 2009. The area is smaller,
approximately 36 square kilometres but is centred on four PGM rich horizons identified from previous sampling and
drilling.

The target horizons are located near the base of an ultramafic-mafic intrusive complex, with a complex geological
history. Later structures have disrupted the central part of the area but despite this the four target horizons can be
seen and correlated over several kilometres. The platinum bearing horizons show different characteristics. Two are
palladium rich while the other two carry higher platinum grades. High grade results include intersections of 3.58 to
38.78 grams per tonne (g/t) of combined platinum and palladium over intervals of 0.4 to 2.8 metres. Lower grade
intersections at some points overlap and extend beyond them - for example 35.9 metres and 13.4 metres of 1.94 g/t and
2.2 g/t of combined platinum and palladium, respectively. The work completed to date allows Eurasia to plan a detailed
drilling programme for 2006 to assess continuity along strike and down dip. There is good evidence that the zones are
continuous, except in an area where faulting has disrupted the geology.

The 2006 work programme will concentrate on detailing the structure of the zones identified, in particular those with
potential for a near surface open pit type of mine development. The drill programme will commence in July and can
continue all year round, due to its proximity to Monchegorsk city and ease of access.

AngloGold Ashanti Exploration Alliance

In 2005 Eurasia established an exploration alliance with AngloGold Ashanti Limited, the world\'s number two gold
producer, covering gold and related mineral exploration and possible development projects in eastern Siberia. The
alliance combines our country experience and exploration management skills in the region with AngloGold Ashanti\'s
technical and financial resources.

The Eastern Siberian geological environment represents one of the best endowed, yet least systematically explored
regions of the world for hard rock gold deposits. Historic production in the region was dominated by placer mining of
alluvial gold. Since the mid 20th Century a number of large hard rock deposits have been explored and developed. Total
resources in these deposits, including previous production and known reserves, stands well in excess of 65 million
ounces, or 2,000 tonnes of gold.

The agreement gives AngloGold Ashanti the exclusive right to participate in projects proposed by Eurasia, which has
been appraising potential prospects in the region. AngloGold Ashanti is funding the first $2 million of exploration
spending in recognition of Eurasia\'s work to date. Subsequent spending will be shared equally.

Our objective is to participate in the rapid advancement of a number of projects towards feasibility study. The
exploration alliance extends the range and type of projects in which Eurasia can participate within this highly
prospective but increasingly more competitive environment for gold project development. The alliance has already lodged
applications for licences to explore in five areas and is optimistic of being able to commence work on several of them
during the 2006 field season.

The company also continues independently to seek projects that will add value to our portfolio by reviewing and
potentially bidding for both prospective mineral ground as well as advanced stage projects elsewhere in the country. In
this regard the company is working with a potential Russian partner to jointly acquire advanced gold development and
exploration properties.

C Schaffalitzky
Managing Director

Klingt interessant, da schließe ich mich in der Ansicht an.

Vielleicht wird man hier weiter fündig:

http://www.infomine.com/commodities/palladium.asp

edit: in der Tat, hier eine Liste:

http://r0.unctad.org/infocomm/…s/palladium/companies.htm

Hauptvorkommen von Palladium seien in Rußland und Südafrika, dort im Bushveld-komplex. Da ist zB tätig: Anooraq Resources Corporation (ANO).

Sehr lesenswert:
http://www.platinum.matthey.co…06/06%20Full%20Report.pdf

Die Erhöhung der Palladiumnachfrage kommt im Wesentlichen dadurch, dass Palladiumschmuck in China "in" ist - die Nachfrage nach Katalysatormetall steigt nur sehr langsam (trotz Euro IV), da man erfolgreich daran arbeitet, die Menge an verarbeitetem Palladium per Katalysator zu reduzieren.

Seit sechs Jahren besteht ein Angebotsüberhang von Palladium; in 2005 betrug die Nachfrage 7.04 Mio. Unzen, während 8.39 Mio. Unzen angeboten wurden. Davon stammen 1 Mio. Unzen aus den Lagerbeständen der russischen Regierung und 439000 Unzen aus den Lagerbeständen von Norilsk Nickel/Stillwater Mining.

Quo vadis Platin? Genaues über die Zukunft weiß man wie immer auch nicht, aber man kann ja mal ventilieren:

http://www.faz.net/s/Rub7A85C6…Tpl~Ecommon~Scontent.html

Hallo,

aus der Financial Times:

Zitat

The number of cases involving manipulation and false price reporting in commodity and commodity futures markets caught by US regulators has reached record levels in the past 12 months.
The Commodity Futures Trading Commission, which oversees such markets, on Tuesday revealed it had collected a record $540m in civil penalties, restitution and disgorgement (the return of ill-gotten gains made as a result of a fraud) from cases involving fraud, manipulation and other misconduct. It said this was a record.

Anzeichen einer Ueberhitzung?

Balkenchart

Hier ist die Folie, die ich Samstag erwähnte, von seriöser Quelle, ist ganz interessant:

So gesehen muß tatsächlich noch was gefunden werden bei Silber, Gold, Kupfer, Zink und so, wenn die Chinesen den Nordwesten in 50 Jahren überholen wollen; bei Eisen und Kohle sieht es doch recht relaxed aus.