FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Palladium One Reports Prospecting Samples of up to 0.74% Ni, 4.09% Cu and 2.51g/t PGE on the Tyko Ni-Cu-PGE Property, Canada” and “The Royalty Purchase Agreement between Palladium One Mining Inc. and Nortec Minerals Corp.”
Palladium One Mining Inc. (TSX-V: PDM) (OTC: NKORF) is pleased to report prospecting samples with assay results of up to 0.74% Ni, 4.09% Cu and 2.51g/t PGE on the Tyko Nickel-Copper-PGE Property, located near Marathon, Ontario, Canada.
Palladium One Mining, a palladium dominant, PGE, nickel and copper exploration and development company had completed a property agreement with Nortec Minerals on Monday, before reporting new prospecting samples for its Tyko property on Tuesday.
Palladium has become the most valuable of the four major precious metals. It is one of the six platinum-group metals, which includes ruthenium, rhodium, osmium, iridium and platinum. Palladium is used as a crucial component in pollution-control devices for cars and trucks where it helps turn toxic pollutants into less harmful carbon dioxide and water vapor. Outside the auto industry, the metal is used in electronics, dentistry and jewelry. According to a report by Bloomberg, Palladium metal is mined primarily in Russia and South Africa and is mostly extracted as a secondary product from operations that are focused on other metals, such as platinum or nickel. What is driving up the prices of the metal is a supply shortage and increasing demand. Russia’s MMC Norilsk Nickel PJSC is the biggest palladium producer and shares of the company surged on Monday during trading on the Moscow Exchange, hitting an all-time high. The metal, which was trading at about USD 2,500 an ounce on Monday, is now more expensive than gold. It has jumped by more than 25% in the last two weeks alone, and almost doubled in value over the last year, according to Russia Today.
In a research reported by S&P Global, Noah analyst Rene Hochreiter explained that “a trader’s correction” was possible in the near term, but that fundamentally, the metal remained attractive based on physical tightness and continued buying interest because of stringent emissions standards. Platinum Group Metals CEO Michael Jones, when asked about his company’s new Waterberg mine in South Africa said that, “Going forward, hybrids are expected to grow to 20% of the power trains on the road for cars. Again these cars have small gasoline engines and palladium bearing catalytic converters. Also emission standards are getting tougher and tougher, which again increases palladium loadings per car. The future looks very strong on the demand side,” according to Mining-Technology.
For more information, please visit: Palladium One Mining Inc.
For more corporate news on Palladium One Mining Inc., check out the Buzz on the Street
About Buzz on the Street: One of FinancialBuzz.com’s latest corporate and financial news shows, covering the latest trending stock market news. Buzz on the Street looks to become a leader in corporate video news dissemination. Buzz on the Street is 100% original content, brought to you by Financial Buzz Media.