CUO copperco limited

platinum up on nymex record high hit

  1. 3,267 Posts.
    an extract from this mornings netquote......

    Platinum is one of the assets mxx brings to the merger which will add significant value to the new cuo. fs.

    Platinum surged three per cent to hit a record high for the 12th successive day on Friday, with acute power problems in top producer South Africa encouraging investors and consumers to buy up the metal.
    Spot metal hit a high of $2,060 an ounce before easing to $2,050/2,055 against $1,997/2,007 in New York late on Thursday.
    South Africa, which accounts for 80 per cent of global platinum supply, has been hard hit by power cuts since early January, forcing mines to shut for five days last month."

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