Stillwater Mining Co. / SWC (NYSE)

BILLINGS, Mont., June 29, 2007 /PRNewswire-FirstCall via COMTEX/ -- Stillwater Mining Company (SWC: SWC) reported that it is continuing its meetings and negotiations with the USW International Union for a new labor agreement. During this period of negotiation, the parties have agreed to extend the expiration of the existing agreement until 12:01 a.m. on Wednesday, July 11, 2007. In the meantime, operations continue as normal.
Although, the company and the union are working hard to achieve a timely renewal of the agreement satisfactory to both parties, there can be no assurances that such a renewal will be made on a timely basis. If an agreement is not reached, the company's ability to continue its normal operations could be affected.
Stillwater Mining Company is the only U.S. producer of palladium and platinum and is the largest primary producer of platinum group metals outside of South Africa and the Russian Federation. The Company's shares are traded on the New York Stock Exchange under the symbol SWC. Information on Stillwater Mining can be found at its Website: http://www.stillwatermining.com.

Last Update: 2:46 PM ET Jul 2, 2007

BILLINGS, Mont., July 2, 2007 /PRNewswire-FirstCall via COMTEX/ -- STILLWATER MINING COMPANY (SWC: Stillwater Mining Company) reported today that it has reached a tentative agreement with the USW International Union on the terms of a new labor agreement. As previously announced, the parties have agreed to extend the expiration of the existing agreement until 12:01 a.m. on Wednesday, July 11, 2007, to allow adequate time to complete final drafting of the contract and present it to the union membership for consideration. In the meantime, the company's operations continue as normal.
Although the company and the union have now reached a tentative agreement satisfactory to both parties, there can be no assurance at this time that the agreement will be approved by the union membership. If the agreement is not approved, the company's ability to continue its normal operations could be affected.
Stillwater Mining Company is the only U.S. producer of palladium and platinum and is the largest primary producer of platinum group metals outside of South Africa and the Russian Federation. The Company's shares are traded on the New York Stock Exchange under the symbol SWC. Information on Stillwater Mining can be found at its Website: http://www.stillwatermining.com.
Some statements contained in this news release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and, therefore, involve uncertainties or risks that could cause actual results to differ materially. These statements may contain words such as "believes," "anticipates," "plans," "expects," "intends," "estimates" or similar expressions. These statements are not guarantees of the Company's future performance and are subject to risks, uncertainties and other important factors that could cause our actual performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Such statements include, but are not limited to, comments regarding expansion plans, costs, grade, production and recovery rates, permitting, financing needs, the terms of future credit facilities and capital expenditures, increases in processing capacity, cost reduction measures, safety, timing for engineering studies, and environmental permitting and compliance, litigation, labor matters and the palladium and platinum market. Additional information regarding factors, which could cause results to differ materially from management's expectations, is found in the section entitled "Risk Factors" in the Company's 2006 Annual Report on Form 10-K. The Company intends that the forward-looking statements contained herein be subject to the above-mentioned statutory safe harbors. Investors are cautioned not to rely on forward-looking statements. The Company disclaims any obligation to update forward-looking statements.
SOURCE Stillwater Mining Company

BILLINGS, Mont., Aug 03, 2007 /PRNewswire-FirstCall via COMTEX/ -- STILLWATER MINING COMPANY (SWC: Stillwater Mining Company) will discuss its 2007 Second Quarter Results during a conference call Tuesday, August 7, 2007. The conference call will be at 12:00 p.m. (noon) Eastern Time.
Dial-In Numbers: (888) 428-4473 (U.S.)

(612) 288-0329 (International)

The conference call will also be simultaneously webcast on the Company's website http://www.stillwatermining.com in the Investor Relations Section.
A replay of the call will be archived on the Company's website and available by telephone replay, which is scheduled to begin on August 7, 2007 at 3:30 p.m. Eastern Time through Tuesday, August 14, 2007, ending at 11:59 p.m. Eastern Time. The replay dial-in numbers are (800) 475-6701 (U.S.) and (320) 365-3844 (International) and the access code is 882957. The call will be archived on the Company's web site in the Investor Relations Section under Presentations.
Stillwater Mining Company is the only U.S. producer of palladium and platinum and is the largest primary producer of platinum group metals outside of South Africa and Russia. The Company's shares are traded on the New York Stock Exchange under the symbol SWC. Information on Stillwater Mining Company can be found at its website: http://www.stillwatermining.com.
SOURCE Stillwater Mining Company

Among stocks, platinum producer Stillwater Mining (SWC) reported a loss of 3 cents a share for the second quarter, even with its losses for the same period a year ago. The company said labor negotiations during the recent period affected its results.

BILLINGS, Mont., Aug 06, 2007 /PRNewswire-FirstCall via COMTEX/ -- STILLWATER MINING COMPANY (SWC: Stillwater Mining Company) today reported a second quarter 2007 net loss of $2.5 million, or $0.03 per fully diluted share, on revenues of $161.0 million. The 2007 second quarter loss compares to a loss of $2.3 million, or $0.03 per fully diluted share, on revenues of $116.8 million in the second quarter of 2006.
For the first six months of 2007, the Company has reported a loss of $3.6 million, or $0.04 per fully diluted share. This compares to the first six months of 2006, when the Company disclosed a net loss of $1.7 million, or $0.02 per share. However, earnings for the first six months of 2006 included $6.9 million of profit from sales of the palladium inventory received in the 2003 Norilsk Nickel transaction; that sales program ended during the first quarter of 2006, so there was no comparable earnings contribution this year.
Stillwater Mining Company mines palladium and platinum ("platinum group metals," or "PGMs") from two underground mines located in the Beartooth Mountains of south-central Montana. The Company's mines produced about 133,100 ounces of PGMs during the second quarter of 2007, well below the 148,700 ounces produced in the second quarter last year. Production at the Company's Stillwater Mine was affected by lower productivity, workforce attrition following a schedule change, ground conditions and mechanical problems with new underground mining equipment. Production at the East Boulder Mine, on the other hand, was about as expected.
During the second quarter the Company had entered into negotiations to renew the contract with its union workers at the Stillwater Mine and Columbus metallurgical operations. Operations continued throughout the second quarter, but productivity was affected as negotiations proceeded. A final contract was not reached until after a seven-day work stoppage in July. The new four-year labor agreement provides for an immediate 3% wage increase for miners and a 4% increase for other employees as well as wage increases in subsequent years of the agreement. Other provisions include additional vacation days, some added flexibility for employees in scheduling days off, and an emergency leave program for probationary employees.
The lower second quarter 2007 production was partially offset by higher average sales realizations on the mined ounces -- $506 per ounce in this year's second quarter, up from $484 in the same period last year.
The Company's smelting and refining facilities in Columbus, Montana process mined concentrates and recycle catalyst materials received from third parties. The Company recycled a total of 93,100 PGM ounces through the smelter and refinery during the second quarter 2007, up 5.7% from the 87,900 ounces recycled during the same period last year. Recycling activities contributed about $6.0 million to the Company's operating margin (before corporate overhead and financing charges) during the second quarter of 2007, compared to about $1.6 million in the second quarter of 2006. The improved performance is primarily attributable to higher realized prices for PGMs and the timing of inventory flows in last year's second quarter.
Commenting on the Company's second quarter 2007 operating results, Francis R. McAllister, Stillwater Chairman and CEO, said; "Although we are dissatisfied with this year's second-quarter and year-to-date performance, on balance we are encouraged with the continuing progress toward the Company's underlying strategic goals. The developed state of the mines continues to advance and the transformation toward more selective mining methods continues, improving the long-term economic viability of our operations. We regard progress toward these initiatives as ultimately much more significant than quarter-to-quarter fluctuations in performance. Earnings, particularly when viewed on a quarterly basis, probably will remain volatile for some time yet. However, through these strategic operating initiatives, we see the opportunity to strengthen longer-term financial performance, ultimately increasing the value of our assets."
McAllister added: "Mine production in this year's second quarter was well below plan at 133,100 ounces, and also well below the 148,700 ounces produced during the second quarter last year. Breaking this down further, Stillwater Mine's second quarter production decreased by about 15,000 ounces compared to last year, while East Boulder Mine production was approximately 1,000 ounces below a year ago, but essentially on plan. The decrease at East Boulder was anticipated, as that mine currently is most affected by the transition from bulk mechanical mining methods to more selective methods."
"Regarding the Company's full-year production outlook, we previously provided 2007 production guidance in the range of 615,000 to 645,000 ounces. Given the changes in circumstance during the second and third quarter, this guidance must be revised During July we reported that, following the union's rejection of a proposed new labor agreement, on July 11 the workforces at the Stillwater Mine and Columbus processing facilities began a strike. Although agreement on a new contract proposal was reached fairly quickly and employees returned to work on the evening of July 17, the effect was the loss of about seven days' production at the Stillwater Mine. In view of the strike loss and the weak second-quarter production at Stillwater, we have now reduced the Company-wide production guidance for full-year 2007 to between 555,000 and 585,000 ounces."
Elaborating a little further on the second quarter 2007 production shortfall at the Stillwater Mine, McAllister noted, "Clearly the strike and its related impact on production at the Stillwater Mine, while significant, is largely a one-time event. The new contract has now been ratified and the employees are back to work. Likewise, the challenges with ground conditions and the mechanical problems with performance of the new underground equipment at the mine have now been addressed and hopefully are behind us. The attrition issue, however, deserves some additional discussion.
"Several factors appear to have contributed to employee attrition rates in the second quarter. Earlier this year, the Company resolved to address two major cost areas that have escalated recently far faster than general inflation -- employee benefits and mining contractor rates. By changing our work schedules at the Stillwater Mine, the Company increased the average workweek from 35 hours to about 42 hours. This has allowed us to reduce the average hourly benefit cost without cutting benefits at all, and also reduced the need for contractor support. We were aware that this change in schedule would result in losing some employees, since the prior schedule made it possible to work in Montana and commute to a home elsewhere. We in fact did see this loss. We also saw some additional attrition in May and June that appeared to be related to the then impending labor negotiations, and from some others who preferred the previous work schedule. The attrition has reduced mine production to some extent, but also has reduced total mining costs.
"The lower productivity experienced during this year's second quarter is attributable at least in part to the distraction of labor negotiations. However, in conjunction with recent attrition, the average experience level of our workforce has also declined, as some more seasoned miners have left and a growing percentage of the mining workforce is derived from our internal miner training programs. The result may be a period of reduced overall productivity until these newer miners gain more experience. Our updated production guidance for 2007 attempts to take this into account.
"The Company's total cash costs per PGM ounce produced(1) averaged $320 in the second quarter of 2007, down slightly from $322 in last year's second quarter. Some of this cost variation is attributable to earnings from recycling and byproduct sales, which we treat as an offset against total cash costs. Our initial guidance for 2007 full-year total cash costs was between $295 and $315 per ounce, with cost performance expected to be weaker in the first half of 2007. Despite our reduced production forecast for 2007, we still feel that our earlier guidance for 2007 total cash costs per ounce is appropriate."
Regarding the Company's mine transformation efforts, McAllister reported, "Operationally, progress continued on our mine transformation program during the second quarter of 2007. Safety and environmental performance were both excellent during the quarter. Engineering design work moved forward for the second smelter furnace in Columbus, Montana. As noted last quarter, we believe this furnace, once in operation, will increase our processing capacity, and provide a strategically critical back-up facility during scheduled or unscheduled furnace outages. We expect the new furnace to be operational by the end of 2008. Total production from captive cut-and-fill stopes decreased modestly during the quarter to 607 tons per day from 703 tons per day during the first quarter of this year. We expect the share of production from captive cut-and-fill stopes to gradually increase during the remainder of 2007. Production from ramp and fill mining in the Upper West area of the Stillwater Mine also increased to an average of 288 tons per day in the second quarter, up from 250 tons per day for the first quarter of this year. Our manpower training efforts to date remain on track to graduate about 100 new miners during 2007."
Regarding the Company's other strategic initiatives, Mr. McAllister commented, "Another of Stillwater's corporate objectives is to expand market demand for its primary products. Early last year, we established an industry palladium trade organization, the Palladium Alliance International (PAI). Since then, the Company has channeled most of its efforts to develop and broaden markets for palladium through the PAI. The Alliance's objectives include establishing palladium's jewelry market presence as a specific elegant brand of precious metal, distinct from platinum and white gold, and instituting a system of standards for use of the palladium brand that will emphasize palladium's rarity and value. The Alliance sponsors technical articles in jewelry trade publications illustrating methods of fabricating palladium jewelry, maintains a website with information on palladium suppliers and retailers ( http://www.luxurypalladium.com), organizes informational presentations at industry trade shows and provides image advertising in critical jewelry markets. To date in 2007, the Alliance has funded several new palladium commercial spots for presentation in major Chinese cities, and participated in an effort to broaden and unify market development efforts among palladium producers and fabricators.
"We also are undertaking to diversify the Company's asset base. This is a multi-faceted effort. We are continuing our efforts toward growing the volume of the Company's recycling operations, reducing the degree of financial dependence solely on performance of the Company's mines in each period. Addition of the second smelter furnace is intended to support this objective by accommodating the expansion of both mining production and recycling volumes over the next several years, as well as creating opportunities to improve metal recoveries.
"As we announced previously, late last year the Company invested $1.9 million to purchase approximately an 11% interest in Pacific North West Capital Corp., a Canadian exploration company with substantial exploration expertise that has identified several promising PGM targets. Exploration efforts are proceeding there and the Company invested an additional $0.7 million in the second quarter of 2007. Also, on July 3, 2007, the Company finalized its investment of $1.5 million in Benton Resource Corp., another Canadian exploration company, providing Stillwater with an attractive opportunity for future participation in Benton's Goodchild Project as well as an equity interest in Benton itself.
"As I have commented before, these investments in generative exploration projects are inherently long-term and fairly speculative in nature, but are intended to build a portfolio of attractive opportunities for the future. We also are evaluating various later-stage mineral development projects and operating properties to identify those that might offer good investment value and mesh with Stillwater's corporate expertise. We are proceeding deliberately in these growth and diversification efforts.
"In summary," McAllister concluded, "despite a disappointing quarter, we feel the Company is still on track toward reaching its strategic objectives."

Pacific North West Capital/Stillwater Mining Update on Alaskan Exploration Programs
TSX: PFN OTCBB: PAWEF Frankfurt: P7J

VANCOUVER, Aug 13, 2007 /PRNewswire-FirstCall via COMTEX/ -- Pacific North West Capital (PFN) (CA:PFN) (PAWE.F: pacific north west cap corp com) is pleased to announce that the Summer and Fall 2007 exploration program in Alaska is proceeding on schedule. PFN and Stillwater Mining Company (Stillwater) are currently engaged in two distinct platinum group metal (PGM) projects in Alaska; the first involves our exploration program on the Goodnews Bay Platinum Project (GBPP). A second agreement with Stillwater (the Reconnaissance Agreement) is exploring a number of prospective platinum targets.

Wichtig wäre es, wenn es die Aktie von SWC schaffen würde, über die $9,50 zu steigen. Der Widerstand befindet sich bei $10,00!

BILLINGS, Mont., Oct 23, 2007 /PRNewswire-FirstCall via COMTEX/ -- Stillwater Mining Company (SWC: Stillwater Mining Company) released today preliminary third quarter and year-to-date production results for its two operating mines and volumes processed in its platinum-group metal (PGM) recycling activities. As anticipated, the results indicate that third quarter production at the Stillwater Mine was heavily affected by the labor issues there early in the quarter.

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Stillwater Mining (SWC) posts $0.12 third quarter loss per share, vs. $0.07 EPS a year ago, on 9.8% revenue decline. It cites lost production related to 7-day strike at its Stillwater Mine and Columbus processing facilities and unusually higher miner attrition in 2007. It says mine output for all of 2007 is now expected to be approximately 550,000 ounces from previous production guidance of 555,000-585,000.

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BILLINGS, Mont., Nov 05, 2007 /PRNewswire-FirstCall via COMTEX/ -- Stillwater Mining Company (SWC: Stillwater Mining Company) today reported a third quarter 2007 net loss of $11.1 million, or $0.12 per fully diluted share, on revenues of $163.1 million. The 2007 third quarter loss compares to net income of $6.9 million, or $0.07 per fully diluted share, on revenues of $180.8 million in the third quarter of 2006.

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Phase 9B $525,000 Exploration Budget on River Valley, River Valley Platinum Group Metals Project, Sudbury, Ontario

VANCOUVER, Nov 05, 2007 /PRNewswire-FirstCall via COMTEX/ -- Pacific North West Capital Corp. (CA:PFN) (PAWEF: pacific north west cap corp com) is pleased to report that a Phase 9B $525,000 budget for continued evaluation of the Interior River Valley Intrusive (RVI) has been approved for the River Valley PGM Project by joint venture partner Anglo Platinum Limited ("Anglo Platinum"); the world's largest primary producer of platinum. The River Valley Project, located near Sudbury, Ontario. Further ground sampling, stripping, channelling and continued evaluation on the Interior RV intrusive will begin immediately to evaluate the mineral potential on PGM zones identified in the 2006 mapping and prospecting programs.

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Pacific North West Capital Corp. (TSX.PFN OTCBB.PAWEF Frankfurt.P7J) is a North American industry leader in the search for Platinum Group Metals (PGMs) and Nickel.
Management's corporate philosophy is to be Project Generator, Explorer and Project Operator with the objective of option/joint venturing projects with major mining companies through to production. To that end, Pacific North West Capital's current option/joint ventures agreements are with Anglo Platinum, Stillwater Mining Company, Xstrata Nickel and Soquem.

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In November 2006, Stillwater Mining Company (SWC: Stillwater Mining Company) , the largest producer of palladium and platinum in the Western hemisphere, purchased an initial 11% of PFN and has followed its position in two recent financings and currently has approximately 10% of the PFN.
PFN and Stillwater have entered into a non-binding Letter Agreement pertaining to ongoing exploration of the Goodnews Bay Platinum Project (GBPP). The Letter Agreement also provides for Stillwater to fund reconnaissance on other Alaskan PFN exploration projects with the provision for Stillwater to enter into an option/joint venture agreements on the Goodnews Bay Project and 1 or more of the reconnaissance projects in Alaska.
Under the terms of the Letter Agreement, Stillwater will spend $4 million to earn 50% of GBPP by December 31, 2010. Stillwater may elect to increase its interest to 60% by incurring an additional $8 million in exploration expenditures within an additional two year period or upon completion of a Feasibility Study, whichever occurs first. Stillwater may increase its interest to 65% by arranging for 100% of the project financing required to place the Property into Commercial Production within an additional three years.
Under the Reconnaissance Agreement, Stillwater may expend $500,000 in 2007 which will allow it to inspect several of PFN's proposed projects. In event Stillwater elects to continue participating in one or more projects, they will be able to enter into one or more agreements identical to the Goodnews Bay. Pacific North West Capital is the project operator.

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Tim Murray of metals refiner Johnson Matthey tells Simon Constable the U.S. probably won't see a platinum exchange-traded fund, but demand for catalytic converters will keep consumption of the metal robust.
Mon Nov 19 2007 18:38:30 GMT+0100 -- Simon Constable
Companies: GLD | JMPLF | LNMIY | PAL | SWC

Mark Anthony submits:
Frank McAllister, CEO of Stillwater Mining (SWC), would call palladium a Cinderella Metal. I agree with him not only on the reasons he cited but more importantly because palladium (Pd) really is a very romantic fairy tale metal that breaks several known physics laws, literally. I am not a crackpot theorist trying to overthrow modern science. Let me explain why palladium defied several physics laws.

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BILLINGS, Mont., Nov 28, 2007 /PRNewswire-FirstCall via COMTEX/ -- STILLWATER MINING COMPANY (SWC: Stillwater Mining Company) announces that Frank R. McAllister, Chairman and Chief Executive Officer will be speaking on Thursday, November 29th at approximately 10:00 a.m. (Eastern Time) at the Bear Stearns Commodities and Capital Good Conference being held in New York. A live webcast of Mr. McAllister's presentation may be accessed through the following URL:
http://cc.talkpoint.com/BEAR00…07a_sc/?entity=stillwater
Stillwater Mining Company is the only U.S. producer of palladium and platinum and is the largest primary producer of platinum group metals outside of South Africa and Russia. The Company's shares are traded on the New York Stock Exchange under the symbol SWC. Information on Stillwater Mining Company can be found at its website: http://www.stillwatermining.com.
SOURCE Stillwater Mining Company

http://www.stillwatermining.com

BILLINGS, Mont., Nov 28, 2007 /PRNewswire-FirstCall via COMTEX/ -- STILLWATER MINING COMPANY (SWC: Stillwater Mining Company) announced today that Stephen A. Lang, the company's Executive Vice President and Chief Operating Officer, will resign to pursue an opportunity with another mining company. Mr. Lang's resignation will be effective December 14, 2007.
Commenting briefly on Mr. Lang's departure, Francis R. McAllister, the company's Chairman and Chief Executive Officer, remarked, "Steve's knowledge and experience have been invaluable to Stillwater since he joined us in September of 2003. He has been a key proponent of the changes in our operations and improvements to infrastructure implemented over the past several years. We will miss Steve and wish him all the best in his future endeavors."
Stillwater Mining Company is the only U.S. producer of palladium and platinum and is the largest primary producer of platinum group metals outside of the Republic of South Africa and the Russian Federation. The Company's shares are traded on the New York Stock Exchange under the symbol SWC. Information on Stillwater Mining can be found at its Website: http://www.stillwatermining.com.
SOURCE Stillwater Mining Company

http://www.stillwatermining.com

We are living in a resource constrained world, due to rapid depletion of many of the none-renewable natural resources, like oil, coal, and metal mineral resources. As the main stream media wake up to the Peak Oil reality, I believe it is important to keep the reality of a resource constrained world in our mind, when making investment decisions. In this article I want to talk about precious metals, including gold, silver, platinum and palladium, the rare metal tellurium and selenium, coal mines, agriculture, sugar, and fertilizers. Relate to these resources I will talk about the following stocks: PAAS, CDE, SLW, PAL, SWC, OMG, FSLR, JRCC, IPSU, POT, SEED, TNH, COIN, not necessarily in that order. This is the first part in a series. I will take about them in more detail in the future.

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But there is an ongoing catastrophe in my favorite long stock PAL right now. The catastrophy is not with the company's business, but rather, with the company's stock price! I predicted a palladium super bull cycle and recommended buying PAL and SWC. The palladium price rallied to multi-year high recently, but the PAL stock price reached multi-year low. That rather defies the logic! In a previous article I analyzed why PAL stock was punished, and called a bottom on Dec. 13. Looking back, the bottom price of $3.40 a share was called correctly. But PAL has yet to rally above $4 credible.
I encourage people to buy PAL below or near $4 a share. The reasons are not just the strong rally in precious metals recently, but more importantly, PAL's Q4 earnings will be released at the end of January or beginning of February. Since a considerable portion of the mine produced metal was not sold in Q3, but will be added to Q4 sales, it can be expected that the Q4 earnings result will be fantastic, boosting stock price.
More importantly, I sense that an explosive palladium rally is imminent now we have entered 2008. Traditionally, each year the Russians sell about 2 million ounces of extra palladium, from the government stockpile, flooding the global market and capping the metal price. They always shipped the government stockpile sale of palladium in one batch to Switzerland in the month of December. So far, year 2007 has ended, and there was no indication they shipped any palladium stockpile.
Palladium rallied in previous years despite of Russian stockpile sale. Now, when the fact that the Russians have finally depleted the stockpile becomes public knowledge, and people know that there is an industrial shortage without the Russian extra supply, you can expect the palladium price will explode.
SWC is also a good buy here, but relatively, PAL has better value at this price. You get more palladium production per dollar of stocks. Read my detailed comparison between the two.

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