TD Securities published an update on the palladium market this morning. They talk about the reasons for why Palladium prices continue to make fresh all-time highs. They conclude that it is fundamentally driven by a supply/demand crunch.
Highlights from the TD Securities report with a link to the full report below:
- Increasingly tight emissions control regulations will see South Korea, India, China and Europe all raise their standards in 2020. These regulatory changes are part of a growing global trend toward sustainability (ESG), which will continue to increase demand for emission control devices containing palladium.
- A potential rebound in auto sales, after one of the most prolonged periods of contraction on record, could also drive demand higher. South African power outages and unavailability of inventory represent upside risks. Given the improved demand outlook, the chronic deficit is likely to get worse and make it difficult for the market to clear at lower prices.
- We see little evidence of excesses in spec activity, which suggests the rally is fundamentally-driven, despite the parabolic move. In fact, our dry-powder analysis suggests that traders hold a below-average total position, and positions per-trader are also below-average, thereby reducing the risk of a sharp reversal. We think the rally has room to run, as periods of extreme scarcity send prices sharply higher. No substitutes imply that near-term demand will not be destroyed.
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Vancouver, British Columbia--(Newsfile Corp. - January 15, 2020) - 21C Metals Inc. (CSE: BULL) (FRA: DCR1) (OTCQB: DCNNF) ("21C Metals" or the "Company") announces that it has changed its name to Canadian Palladium Resources Inc. to reflect the Company's concentration on its flagship East Bull Palladium project in Ontario, Canada.
Wayne Tisdale, CEO of the Company, commented, "With Palladium reaching new highs of over $2,100/oz, we look forward to drilling the East Bull Palladium project to further expand the 43-101 compliant 523,000 oz palladium equivalent resource we have. This name change reflects our focus on a world-class asset in a mining friendly jurisdiction."
Effective the commencement of trading on January 20, 2020, the Company will begin trading on the Canadian Securities Exchange under its new name, Canadian Palladium Resources Inc.; the stock symbol "BULL" will remain the same.
The name change does not affect the rights of the Company's shareholders, and no further action is required by existing shareholders with respect to the name change. Certificates representing common shares of 21C Metals Inc. will not need to be exchanged as a result of the name change.
For additional information please contact:
21C Metals Inc.
Wayne Tisdale, President and CEO
T: (604) 639-4455
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/51491