What is Palladium? .......... For the uninitiated! troll's19 Oct 2020 07:44
Please read and try to digest why a 'Platinium' mining exploration company may have ... 'overlooked' ... all this old Palladium ... that was at the time not worth digging out of the ground when in the past its value was $400 per oz and it cost nearly $400 per oz to dig it up! ... Not Rocket Science, is it!
Palladium is an extremely rare, silver-white precious metal. It is 30 times more scarce than gold, and it is 15 times more rare than platinum.
Palladium was discovered in 1803, but mineable ore deposits are not easy to come by. Much of the current production is confined to Canada, Russia and South Africa. The latter has become a difficult jurisdiction for miners to operate in. Labor unrest and electrical outages are increasingly common there.
Russia is the leading producer, mining roughly half of the current annual production of 200,000 ounces. Approximately 30% of supply comes from South Africa.
Palladium Properties & Applications
Palladium is one of three platinum group metals available in the bullion markets. Platinum and rhodium are the other two. These metals share similar chemical properties, but Palladium offers the lowest density and the lowest melting point of the group.
More than half of the Palladium mined is used in automotive catalytic converters which have been mandated as part of an effort to reduce harmful emissions. Catalytic converters change noxious gases including hydrocarbons, carbon monoxide and nitrogen dioxide to more benign nitrogen, carbon dioxide and water vapor.
Each catalytic converter requires approximately 1/20th of an ounce of a platinum group metal. 2016 worldwide vehicle production is estimated at 72 million, so you can see how demand for palladium, platinum and rhodium really adds up.
What is Palladium Used For?
Catalytic Converters
Jewelry
Electronics
Groundwater Treatment
Chemical Applications
Dentistry
The price history of palladium is fascinating. The metal began moving out of relative obscurity in the 1990s as automakers found it to be a great alternative to more expensive platinum. Prices accelerated upwards and peaked at over $1000 early in the year 2000. The run upward in price was followed by a precipitous fall and the metal spent most of the next decade trading under $400 per ounce.
Its fortunes changed in 2008 as interest in precious metals as a safe-haven began to surge. The precious metals complex put in a bottom in Dec. 2015 and, to date, Palladium has been far and away the best performer in terms of price. The price per ounce eclipsed that of platinum for the first time ever in 2017. The metal rode a wave of increased investment demand coupled with a recovery in the automotive manufacturing sector worldwide.
In the past, EVERY mining company wanted Platinium over Palladium, today, that is not the case, and WHY Eurasia Mining has fallen on its feet.
The perfect storm, Rare, Now very valuable, In high demand, Oh, and we just happen to have shed loads of i
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