Loves platinum and palladium.  Supply fundamentals are spectacular.  Used in Catalytic convertors.  China is ramping up car production, talking about increasing emissions standards.  There are not many ways to play this.  But PDL’s costs have been rather high and execution of their mine has not yielded profits for the average investor.  If we get a spike in resource prices it could suddenly turn a profit.

Down about 90% from highs of last couple of years.  Company has struggled.  Problems with recovery of oxide materials.  Thinks it will be manageable and they will get through it.  There are inherent problems in the feasibility that they have not been able to address.  With a higher gold price you will see this take off in value, but for now he has to wait and see what they come out with in terms of studies.  Should have some in the not too distant future.  There are other things that are easier to figure out (prefers others stocks).

Visited this summer.  They found some high grade core this spring which is dipping to the SSE and they started to drill that.  May go under the lake and to the other side.  May change from a low grade deposit to a high grade underground deposit and this got the market excited.  He is interested to see if it extends and what grades they get.

(Market Call Minute) Stock has been knocked down.

(Market Call Minute) Loves it.  Stock is cheap and feasibility study looks really good. Keep an eye on it.

(Market Call Minute) Neutral, but with higher gold prices you would want to own this.

(Market Call Minute) Part of his core portfolio.  Great management team, lots of growth, build out and challenges.