For weeks, I warned you that palladium was on the verge of a breakout past $800. Now it is hitting new two year highs as the U.S. threatens Russia, the world's largest supplier of this precious and industrial metal used to control pollution from automobiles.
In addition, strikes from miners in South Africa, the second biggest palladium producer is putting strain on the supply side. Demand for automobiles is growing most notably from China who needs palladium desperately to reduce toxic air emissions in their smog filled urban areas. Demand is exceeding supply now for several years.
I recently interviewed Wellgreen’s (WG.V or WGPLF) CEO Greg Johnson about recent developments both from a corporate and technical perspective which can be seen below. Remember Wellgreen (WG.V or WGPLF) has over 7 million ounces of PGM's and gold, 2 billion pounds of nickel and copper. Nickel and copper are two industrial metals to own that are rebounding on increased resource nationalism fears from Indonesia and the Philippines. A rising nickel and copper price could really improve the economics on Wellgreen (WG.V or WGPLF).
Greg Johnson is well known in the mining industry as he co-founded Novagold and is financially competent as he raised around $650 million in his career. The new management team and shareholder base gives me confidence that Wellgreen could be a major story in 2014 as the PGM market rebounds.
Further information about the Company and its projects can be found at www.wellgreenplatinum.com or call +1.888.715.7528 (Toll Free)
Disclosure: Author owns WG and company is a website sponsor.
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