Stillwater Mining (PGMS) - pure platinum/palladium play Message Board

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Gold/Mining/Energy : Stillwater Mining (PGMS) - pure platinum/palladium play

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To: Richard Mazzarella who wrote (24)	10/25/1996 10:31:00 AM
From: Richard Mazzarella	of 182

Stillwater Mining Co concerned about prices DENVER, Colo., Oct 25 (Reuter) - Stillwater Mining Co said Friday it is believes the "full effect" of the current low level of metal prices will hit in the fourth quarter and in 1997. Nevertheless, Stillwater -- the only U.S. producer of platinum and palladium -- said the long-term fundamentals of those two markets "remain favorable." The company said that a cyclical downturn in electronics this year has led to curtailed demand for palladium. Platinum prices also have moved lower as the price of gold has dropped, it said. The combined average realized price per ounce of metal sold for the third quarter was $214 compared with $218 for the same period the prior year. For the first nine months of the year, the combined average realized price per ounce of metal sold was $217 compared with $233 in the previous year. The company said it is adjusting its 1997 plans to reflect those prices. Among those adjustments are efforts to increase production and to complete expansion projects, it said.

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