News

February 21, 2008

Harry Barr Puts Pacific North West Capital At The Forefront Of PGM Exploration In Canada

By Charles Wyatt

Hardly surprising that Canadian listed Pacific North West Capital has decided to switch its focus back onto platinum group metals. Recently it appeared that nickel might take up the running, but now that platinum has broken through the US$2,000 per ounce barrier and palladium is pushing up towards US$500 per ounce - both a long way north of where they were in 2005 and 2006 - there is not much choice.

Ironically, Anglo Platinum is the company’s joint venture partner at the River Valley project near Sudbury in Ontario and poor old Anglo Platinum has just had to announce that it will lose around 150,000 ounces of platinum production this year due to power shortages in South Africa. As this amounts to 2.25 per cent of total world production it is little wonder that the metal price has gone into orbit. Not that this trend will be without setbacks. There was evidence of profit taking earlier in...