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Comments:
<0> nice
<0> i have a bias towards mining and energy companies
<1> makes sense 68 dollar oil
<1> im guessing you like JOYG
<0> but i don't know the US markets, so don't have any specific ideas
<0> dunno them
<1> joy global, coal play
<0> hmm
<0> well, the new rounds of coal prices negotiations are going on right now
<0> and most types of coal are taking a big hit
<0> except maybe the harder coking coals
<1> i wouldnt expect that to last
<0> perhaps
<0> i think the major producers are still negotiating
<0> they might squeeze more
<1> what do you think of palladium
<0> hmm, dunno, it's an interesting metal for sure
<0> i don't know if the metal itself is a good investment, too hard to forecast prices i think
<0> but i think miners of it would probably be in good shape
<1> gm announced in december that they are switching to pd from pt in their catalytic converters
<0> nice
<1> since pt is currently 4X the price of Pd
<0> yeah
<1> so ive been looking at investing in PAL, canadian mining company
<0> palladium is a pretty wicked metal
<1> yea, it loves hyrocarbons
<0> yeah, i mean a lot of forward earnings estimates are done with very conservative long term commodity prices
<0> in some cases, even if the spot prices just stay flat, the mining company will do great
<0> so i wouldn't necessarily be buying palladium futures, but the miners in general i think should be in good shape
<0> the supply/demand balance seems to be in their favour bigtime, from a macro point of view
<1> not too many places you can get large amounts of pd
<0> uranium mining has been a hot ticket too
<0> yeah, very rare indeed
<1> whats driving uranium?
<0> very few new miners coming online
<0> current mines mostly at capacity
<0> new demand from power stations
<1> nuclear power?
<0> greenhouse gas/global warming is making coal look bad, from PR poitn of view
<0> yeah
<0> so nuclear power is not looking so bad all of a sudden
<0> even green people are embracing it as a viable long term alternative
<0> so you have more demand for nuclear power, some new stations being commissioned
<0> for the first time in years
<0> and a tight supply side
<0> so prices have been going up and up and up for the past few years
<1> i have to make a mental uranium note, got any mining plays?
<0> hmmm
<0> Paladium Resources, an Aussie company (i'm from .au) is a great company with oustanding projects
<0> only it's gone up from a few cents 2 yrs ago to about $2.50 now
<0> i still think it has steam in it though
<2> http://www.mensa-test.com/
<0> and it's much less risky now, though don't expect to hit a home run or anything
<0> sorry Paladin
<0> Paladin Resources, mental slip from the earlier discussion
<0> they are one of the very few companies to have a large scale mine coming online in a few months
<0> in Namibia
<1> where is that
<0> southern africa
<1> hmm arent there pd deposits in south africa also?
<0> they're still only an explorer, but will start producing by end of this year
<0> and they have a few other big mines coming online in the next few years
<0> i think it's a great long term prospect, though not cheap right now
<0> yes, South Africa is the dominant producer in PT and PD
<0> especially in PT they are practically monopoly
<0> Namibia is just to the north of South Africa
<0> on Atlantic coast
<1> do you do something mining related
<0> if you buy the whole uranium story, that it will stay good for years to come and prices will continue to go up, then i think Paladin is one of the very few growth stories around the world. only problem is it's already had an incredibly strong, amazing run, for the past few years. so i'd view it as a medium-long term opportunity
<1> seem very knowledgeable
<0> no i don't. i live in .au and we have many world cl*** mining companies here, just general knowledge
<0> by the way, personally i do buy the whole uranium thing, because of the greenhouse gas/global warming issue, which is a serious concern, and people really are looking at nuclear power seriously again. so uranium will stay good for a while i think
<1> i agree, utility companies here in the states are looking at nuclear power
<0> coal is just nasty stuff. unfortunately coal here is just so cheap that this is what we mainly use for power. it's pretty sad, people here are psycho-anti nuclear, but i don't think they really consider the issue with much thought
<0> i think .au produces more greenhouse gas per capita than any nation on earth
<0> pretty sad ...
<1> really, i think coal is used pretty heavily in india
<0> i wouldn't be surprised
<0> it's cheap, dirty and nasty
<1> its cheap, so its going to burn
<0> one nice thing about nuclear power, is that cost of cleaning/waste management/sustainability is all priced into the power
<1> 60% of all the electricity in the states is generated through coal
<0> you don't get that with other forms
<0> i think this is something the anti-nuclear people should keep in mind
<0> if a coal utility ****s up the air and causes acid rain, we all pay for the damages
<0> the nuclear utilities have to pay for the own fuel desposal and/or rehabilitation and long term storage
<0> so it's priced into the poewr they charge us
<0> that's how things should be, but aren't in general
<1> the problem is you dont see coals damaging effects immediately
<1> chernobyl is right in your face
<0> and we couldn't even begin to price the damages that global warming might cause us in the future
<0> yeah
<0> though it's funny that chernobyl only closed a few yrs ago
<0> i think that's amusing
<0> and they only closed it after the europeans had to pay them off with a huge payout
<0> to compensate them for the lost power generation capacity
<1> did aus sign on to kyoto protocol?
<0> no
<0> they have a different thing going, with the US, S. Korea, India, China
<0> a few big countries
<0> it's greenhouse gas reduction initiatives, but not binding
<0> hard to say if it's just PR bull**** or really will do some good
<0> one good thing about it is that industry is actually involved in the talks
<0> not just govt
<0> so at least they have them talking
<0> there was the 1st meeting of this group in Sydney (where i live) a few days ago actually
<0> Condi Rice was supposed to come down and so on, but the whole Sharon middle east crap happened and she dissed it
<0> stupid cunt
<1> lol
<1> is he dead?
<0> no, i thikn he's kinda semi-brain dead though
<0> effectively he's dead though, yeah
<1> i have a cousin in sydney, might fly out there this spring
<0> don't get bitten by a shark
<0> ( :
<3> oil sure is going up
<3> !p
<3> !pm
<1> yea, and its late january ;(
<0> is there a seasonal component to it?
<0> people drive more in summer, say?
<1> yes
<0> what's gas going for in the states now?
<4> 2.70ish
<1> oil going to $100 this summer
<1> inflation
<1> higher interest rate
<1> bye housing, bye financials
<0> 3.30ish here
<0> probably higher petrol taxes
<5> i say 90's
<5> our taxes just went up
<0> still relatively low by intl standards i bet
<3> its all hype
<0> from what i've heard, construction in the US is giong well, maybe not residential so much but commercial/indstrl
<1> iranian hype
<3> phukin Irans new Pshyco "president" (terrorist) will make it worse, supplying 10% of US supply
<3> nomad- where did you hear this?
<0> and 4% of world supply
<0> re: iran
<3> hmmmm
<0> dunno, read it in some newspaper i think
<6> iran is #4
<3> #4 for what?
<6> #4 oil producer
<0> re: US construction
<3> oh
<6> -cnbc
<3> i wonder if US is going in????
<3> either uS or ISRAEL will have to go in....
<0> in Iran??
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