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Gold/Mining/Energy : Platinum PRICE monitor--genesis Nov 2002
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To: IngotWeTrust who started this subject12/20/2002 11:18:55 AM
From: IngotWeTrust   of 186
 
Russian newswire viewpoint on Ruskie/SWC mining deal: Neftegaz.ru [Emphasis MINE]

Russia's Victory In Stillwater Mining Deal
18.12.2002 07:18

Russia's largest mining company is going to boost demand for palladium by
buying the majority interest in Stillwater Mining Co, the financially troubled
company.

Through Stillwater Mining, the Russians are buying access to US automakers. The
Russians used to sell palladium in this country, but their supplies were erratic and
that market dried up.

Part of the assets the Russians are buying include Stillwater's public listing on the
New York Stock Exchange.

Under the purchase agreement, Norilsk will sell 1 million ounces of palladium a
year to Stillwater mining, which will then sell the ore to its customers.

Stillwater Mining will receive $100 million in cash from Norilsk and about $241
million in Russian palladium. Norilsk will sell Stillwater 876,000 ounces of
palladium at market price when the deal closes. ed note: structured deal currently embraced by SWC mgmt calls for $270 PoPd for these approx 1mil Pd oz)

That means Stillwater mining could get less than the estimated $241 million. Or it
could receive more money if the metal's price increases.
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