Supply conditions Draw your own conclusions. The main advantage I see with GENM is that it's a PGM / copper mine that acts as a buoy to the palladium prices. Those mines in South Africa are 100% PGM mines, they are losing money at these levels. The one company Norilsk in Russia is producing an unreal amount of Palladium...!
Implats cutting down
https://www.miningmx.com/news/platinum/56126-implats-announces-group-wide-capex-and-project-review-amid-anaemic-outlook/
Sybanye-Stillwater cutting down
https://www.miningweekly.com/article/sibanye-to-further-restructure-its-us-operations-posts-loss-in-challenging-commodity-price-environment-2024-09-12
https://www.mining.com/sibanye-stillwater-to-cut-2600-jobs-in-south-africa/
Norilsk mine alone produce around 2.4 millions ounces of palladium a year. Any event in Russia or in that mine can imbalance the market very quickly.
https://interfax.com/newsroom/top-stories/95733/
Their palladium production increased in 2024
https://www.mining.com/web/nornickel-raises-2024-production-guidance-for-all-metals/
Platinum prices will affect long term palladium supply:
https://miner.africa/2024/03/03/south-africa-platinum-crisis/
https://www.mining.com/web/amplats-plans-to-cut-thousands-of-jobs-after-profit-plunge/