Leibovit has a good track record. PAL stockholders should feel great about his "buy" rec. We should bust out above $5 this week, possibly challenge $5.75-$6 by Friday. Silver and palladium are the strongest metals now. Take a look at Hecla (HL) as well.
There is a storm brewing deep in the bowels of currencies right now. There is a gargantua story unfolding with GATA and the CFTCC right now. There is a disturbance in the PM market, too much paper, not enough physical it seems to appear. All of this is going to hit the main stream media soon, Huff post has already been on the story. Tim Geithner being called into China for a "face to face" meeting concerning currencies and other related issues the headline's read. So be it auto sales taking off in China or a PM sector play, if one go's up, they will all go up. The ETF's are needing backed up with physical and the more new ETF's they create, they are addressing this and making it loud and clear they will have physical holdings to back them up. So let the sleeping giant awaken I say.
PAL is an interesting play. Was a primary palladium play, now in gold mining and polymetallic deposits. Poured its first dore bar late in 2009 from the Sleeping Giant mine, looking to do Polymet with smelting/refining done by Xstrata. Palladium mine ILI was shut down late 2008, no revenues in 2009. Scheduled to be back online in this quarter.
Speculative play on Palladium (11%) of world production but under great stress due to the auto slowdown, but China is now number one producer of autos, and each one needs Palladium for the catalytic converters in lieu of Platinum (almost one third the price of platinum). Also used in China/Asia as part of jewelry and dentistry in addition to catalyst in oil refining/chemical processing. Strategic metal for electronics as well. Multiple use metal.
Guess the direction of Platinum, production of Norlisk and Xstrata (two largest players with about 88% of world market). Could be a place to park money while waiting for the FEIS, but definitely a crap shoot. They are a junior miner, but have open mines, infrastructure, mills, etc. Canada lets these guys permit much faster than US.