I want to get a thread going on Stillwater Mining, a Montana company that has the only platinum and palladium mine of any consequence outside of South Africa. Recent quarterly earnings were a dissapointment due to lower metals prices compared to last year, but the costs per ton milled have decreased significantly compared to last year.
There are many positive developments here, including the opening this year of the Base Metals Refinery in Columbus, Montana which will help the company reduce its refining costs. Also the company is exploring another mine site at East Boulder, to tap into the same deposit as the existing mine. The company has the rights to, or owns outright, over 900 mining claims to the Stillwater deposit, which is about 28 miles long and at least 5000' deep.
This stock may not generate much news, so this thread may not be quite as exciting as, say an Iomega thread, but there is money to be made in PGMS. Especially look for dips at or below 20 as a good buy point for a 3-4 point short term gain. I'd also hold some for the long term as an inflation hedge.
FYI I'm holding a couple of hundred shares.
Frank |
