by activation of the propargylic alcohol, leading to the carbonyl ligand formation via allenylidene and alkenyl-hydroxycarbene intermediates. The generation of the catalytically active species requires a short initial thermal activation to induce decoordination of the p-cymene ligand. The in situ generated catalyst has been applied to catalytic transformations of alkynes and propargylic alcohols: propargylation of furans, propargyl ether synthesis from internal and terminal propargylic alcohols with propargyl, homopropargyl and allyl alcohols, selective dimerization of phenylacetylene into E-enyne, and propargyl alcohol rearrangement into a,b-unsaturated aldehydes and ketones via the Meyer-Schuster rearrangement. The propargylation of propargylic alcohols containing internal C C bonds suggests an activation via the Nicholas-type intermediate, the metalstabilized propargyl cation.