12 www.resourceworld.com
d e c e m b e r / j a n u a r y 2 0 1 6
lem once Europe – the major sales market
– abolishes tax benefits for diesel cars as a
consequence of the emissions scandal, the
report said.
Meanwhile, Commerzbank says it is
looking for a platinum price of $1,050/oz
at year end and $1,200 in 2016 on average.
Palladium is likely to trade a $700/oz at
year end and at $780 on average next year,
it said.
"We have seen a lot of growth in demand
for catalytic converters. I don't see any
indication that this will change,'' said Greg
Johnson, President of Wellgreen Platinum,
a Yukon-focused exploration and develop-
ment company, which aims to develop an
open pit mine producing PGMs, nickel,
copper and gold. At a production rate
of 200,000 ounces per year of combined
platinum, palladium and gold, Wellgreen
could rank number two in North America
behind Stillwater Mining Co. if and when
it makes it into production.
Mine supply peaked in 2006 and 2007
and has been falling steadily, particularly
for platinum. Both platinum and palladium
are in deficit when it comes to mine supply
versus total demand.
However, PGMs have been trading
in lock step with the price of gold. As a
result, the commodities market has been
bearish on those metals, even though the
supply demand situation would point to
higher prices. Many people have been con-
cerned about security of supply because if
prices continue at these levels, it will be
unsustainable to keep mines in produc-
tion, especially in South Africa. We have
seen the announcement of shutdowns by
Xstrata and others. More are likely.
coPPer
Summer selling pressure sent the price
of copper tumbling from the May 2015,
(intraday) peak of $6,489/tonne down to a
six-year low of $4,855/tonne on August 24,
2015. With continued weak data coming in
from China, the slump in prices prompted
Macquarie Ltd. to reduce its 2015 year-
over-year refined demand growth figure
from 5.3% to 2.5% as a rebound in condi-
tions continued to elude the world's largest
consumer.
TSX: MOZ
Contact: Christopher Haldane, Investor Relations
Telephone: 416.987.0714
Website: www.marathon-gold.com
Newfoundland's Next Gold Camp:
1.3 million oz. and growing
