Palladium Likely to Remain in Deficit Next Year, GFMS Says
Thomson Reuters GFMS' recently released Platinum & Palladium Survey 2013 reveals that palladium recorded its highest deficit in 11 years in 2012 and is likely to remain in deficit this year.
Q1 2013 Palladium ETF Trends
Nick Brooks of ETF Securities revealed that investors are moving out of gold ETFs to focus on more cyclical metals like palladium.
Palladium Market Update (April 5, 2013)
A brief overview of palladium price developments, supply and demand and significant market movers.
Russian Data Supports Palladium Supply Concerns
Data regarding key Russian palladium sources appears to support deficit forecasts.
Company News
Colossus Minerals Announces C$25 Million Bought Deal Financing
Colossus Minerals Inc. (TSX:CSI,OTCQX:COLUF) announced a bought deal with aggregate gross proceeds of C$25,000,000 -comprised of 15,625,000 common shares of the Company at a price of C$1.60 per Common Share - with GMP Securities L.P. on its own behalf and on behalf of Dundee Securities Ltd. (together with GMP) and a syndicate of underwriters (together with the Co-Lead Underwriters).
Colossus Minerals Reports Voting Results
Colossus Minerals Inc. (TSX:CSI,OTCQX:COLUF) announced voting results from the annual and special meeting of shareholders held on May 21st, 2013, and J. Alberto Arias, John Frostiak, David Garofalo, Greg Hall, Mel Leiderman, Claudio Mancuso, Douglas Reeson, and John S.M. Turner were elected as directors of the Company.
Colossus’ Serra Pelada Mine Set to Begin Production in Q3 2013
Colossus Minerals Inc. (TSX:CSI,OTCQX:COLUF) provided an update on its Brazil-based, 75-percent owned Serra Pelada gold-platinum-palladium mine, commenting that the mine is on track to begin production of 250 metric tons per day in Q3 2013.
North American Palladium Downgraded by Raymond James, HSBC
The Globe and Mail reported that Raymond James analyst Alex Terentiew has downgraded North American Palladium Ltd. (TSX:PDL,AMEX:PAL) to "market perform" from "outperform," while Sam Crittenden, an analyst at RBC Dominion Securities, moved his rating from "sector perform" down to "underperform."
Market News
Palladium Rallies as 2013 Deficit Expectations Grow
ETF Securities reported that palladium is rallying on the back of increasing expectations of a "meaningful" palladium deficit in 2013.
US Palladium Bar Price Up 4.6 Percent This Week
MetalMiner reported that the US palladium bar price increased by 4.6 percent this week, the third week in a row that the price of the metal has risen.
Chinese Palladium Bar Prices Down 5.7 Percent
MetalMiner reported that yesterday, Chinese palladium bar prices fell by 5.7 percent, while prices for US palladium bars went up by 1.7 percent.
Norilsk Nickel Forecasts 2013 Palladium Deficit of 1 Million Ounces
Mining Weekly reported that Norilsk Nickel OAO (MCX:GMKN), the world's top palladium producer, thinks that in 2013 the palladium deficit will rise 25 percent on the back of falling supplies. That will bring the deficit up to about 1 million troy ounces.
