Thomson Reuters GFMS: Platinum & Palladium Survey 2015

Thomson Reuters GFMS: Platinum & Palladium Survey 2015

Thomson Reuters GFMS' Platinum & Palladium Survey 2015 came out Thursday. In it, the firm takes a look at 2014 supply and demand trends and provides its 2015 price outlook for the metals.

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Company News

NovX21 Extends Private Placement

NovX21 Extends Private Placement

NovX21 Inc. (TSXV:NOV) announced an extension to its private placement which was initially set on or around May 7, 2015.

PolyMet Mining Reports Financial Results

PolyMet Mining Reports Financial Results

PolyMet Mining (TSX:POM) reported its financial results for the year ended January 31, 2015. The company reported a $7.276 million loss for the year, compared with $8.132 million for the year previous. As of January 31, 2015, PolyMet had cash and cash equivalents of $9.301 million.

NovX21 Provides Correction to Press Release Regarding Private Placement

NovX21 Provides Correction to Press Release Regarding Private Placement

NovX21 (TSXV:NOV) made a correction regarding the participation of existing shareholders in a private placement as described in its previous press release. Net proceeds of the financing will be used for the financing of a new commercial plant for the recovery of platinum group metals and for general corporate purposes.

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Market News

SFA Says Platinum Price Too Low to Be Sustainable

The Bullion Desk reported that SFA Oxford's Stephen Forrest told LPPM delegates that the current platinum price is unsustainable. He stated that a price rise was inevitable due to an "impending imbalance in the market."

US Palladium Imports from Italy, Switzerland Up in 2014

Mining Weekly reported that according to the US Geological Survey, the United States imported larger-than-usual amounts of unwrought palladium from Italy and Switzerland last year.

Palladium ETFs Suffer Big Outflows

Reuters reported that last week, palladium-backed ETFs saw their biggest outflows since August 2014. That week the palladium price fell as gold, silver and platinum prices rose — that's in contrast to "the trend of the last two years."

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