Ruthenium: Dead dog or sleeping giant?

After hitting $850 in 2007 ruthenium has been a dismal performer, especially in the last 2 years. $80 looked cheap, only to see a decline to $42, where it currently sits. Application driven, ruthenium is an outlier for speculators. Pros: price is absurdly cheap, promoting new applications. Cons: South African mines are in a death spiral, grabbing cash wherever possible. They would probably sell for $20 to pay bills, as ruthenium is factored at a zero cost basis.

However, sooner or later either a new application(s) will emerge or the mines will tire of selling this unique metal for peanuts. Crystal Bay feels a fair price is $80-150.