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Prophecy Platinum: Advancing High Quality PGM Projects

  Broadcast in Business

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Prophecy Platinum just completed close to a $6 million financing which shows strong support for the caliber of the companies platinum and palladium assets in the Yukon and Ontario.  This is a significant accomplishment to raise these funds in a difficult financing market.  These funds will help to advance Prophecy's major platinum and palladium development projects in stable Canada.  Investors should look for platinum and palladium projects in safe jurisdictions as the fundamentals are extremely strong with rising demand and declining supply from South Africa.  This supply demand imbalance should impact the price over the long term.  This correction in the mining sector is one of the strongest declines in history and is similar to the 2001 thirty year low in the mining sector.  At that time similar to now, major miners were shutting down mines and cutting back.  Although it looks negative for the short term, these are the sort of moves that are characteristic of a major bottom.  Mines take time to build and expand.  There are major lag times that create shortfalls should prices move higher.  The pain that we are seeing in the sector now is setting the stage for the next boom and may be an excellent opportunity for top junior miners developing top notch assets.  Although this is a painful correction, many expect this downturn to lead to higher valuations down the road and increased merger and acquisition activity.   The supply of PGM's comes mostly from South Africa and Russia.  High quality projects in safe jurisdictions like the ones that Prophecy Platinum control could become increasingly valuable as there is a need for a safe and secure supply of these critical precious metals.  
 
Disclosure:  Author/Interviewer Owns Prophecy Platinum and the company is a sponsor on website.
Tags:
Platinum
Palladium
Mining
Gold
Silver
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