Company Moves From the Nasdaq National Market
NEW YORK, June 5 /PRNewswire/ -- The American Stock Exchange today began trading the common stock of Stillwater Mining Company. Based in Denver, Colorado, the company produces platinum and palladium and is the only significant primary source of platinum group metals outside of South Africa.
Chairman Ray Ballmer commented, "We are pleased to have the opportunity to move to the American Stock Exchange. We expect that this action will provide a more efficient market for our stock, better liquidity in our shares and give our shareholders the ability to gain access to our shares with greater ease."
Stillwater Mining Company operates the Stillwater Mine located in Nye,
Montana. During the first quarter of 1997, the mine extracted a record 80,000 ounces of platinum and palladium production. The company is in the process of completing its mine expansion to a 2,000 tons-per-day milling rate which will take it to a production level in the range of a half million ounces of platinum and palladium annually.
Trading under the ticker symbol SWC, the stock opened at $23.00 on
2,400 shares. Goin & Co. LLC has been selected as the specialist unit for the new listing. As the nation's second largest stock exchange, the American Stock Exchange is the only primary marketplace with a significant presence in both equities and derivative securities. Visit American Stock Exchange web site located at amex.com.
SOURCE American Stock Exchange
-0- 06/05/97
/CONTACT: Yolanda Cain of the American Stock Exchange, 212-306-1671 or
ycain@amex.com/
(SWC)
CO: Stillwater Mining Company; American Stock Exchange
ST: Colorado, Montana, New York
IN: MNG
SU:
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