UBS has downgraded its outlook for palladium, predicting a price decline to $900 per ounce by the end of 2024. The shift in sentiment is attributed to a decline in demand for auto catalysts, a surplus in the palladium market, and negative risk assessment by the option market. Investors are advised to proceed with caution due to palladium’s low trading volumes and limited market size.
A publicly traded company has announced significant high-grade assay results for multiple holes drilled in its exploration program. These findings expand a prospective zone located 5 kilometers northeast of the primary Nisk deposit, indicating the potential for additional valuable mineral resources.
Galileo Mining Ltd. (ASX:GAL) has commenced a 3,000-meter reverse circulation drilling program at its Norseman Project in Western Australia. The program targets nickel and palladium and is expected to last approximately five weeks, with first assays due in June. The drill targets are located one to five kilometers from the 17.5 million tonne Callisto resource and aim to test geophysical anomalies.
