Strikes at the operations of South Africa's major platinum miners, along with the news that the United States is prepared to enact trade sanctions on Russia, pushed palladium to an 11-month high yesterday.
NovX21 has a new name, a new board of directors and a new direction.
Frank Holmes, CEO of US Global Investors, says the growing demand for fuel-efficient cars, along with supply disruptions, will cause platinum-group metals to trade higher in 2014.
Both platinum and palladium are expected to make gains in 2014.
Platinum Group Metals Ltd. (TSX:PTM,NYSEMKT:PLG) yesterday announced new drill intercepts from the Super F platinum-palladium-gold mineralization, commenting that they extend the Waterberg deposit.
NovX21 (TSXV:NOV) provided an update on its corporate and operational activities: currently, discussions are underway with banks and institutional funds for the financing of the construction and start-up of a first commercial plant. At the St-Augustin facility, modifications are presently being made to help reduce the capital and operating costs associated with the proposed plant.
North American Palladium Ltd. (TSX:PDL,NYSEMKT:PAL) announced the 2013 financial and operating results for its Ontario-based Lac des Iles palladium mine, commenting that last year it put out 135,158 ounces of payable palladium at a cash cost of US$560.
NovX21 Inc. (TSXV:NOV) launched a new website that is available in English and French. The new website reflects the Company's recent name change.
Forbes reported that palladium rose to its highest price in 11 months on the back of concerns that sanctions on Russia could disrupt the country's exports of the precious metal.
The Wall Street Journal reported that in January, Russia increased its output of gold, palladium and platinum by a respective 7.3, 4 and 40 percent.
DailyFX reported that on Wednesday, palladium rose to $729 per ounce, an increase of over $13, after a Chinese government report showed that exports from the country rose by 10.6 percent in January. That's nearly six times more than analysts projected.
Mineweb reported that according to Barclays plc (NYSE:BCS), platinum and palladium are likely to outperform both gold and silver in 2014.