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Gold/Mining/Energy : Stillwater Mining (PGMS) - pure platinum/palladium play
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To: Frank Byers who wrote (77)1/21/1997 2:03:00 PM
From: Richard Mazzarella   of 182
 
Stillwater Mining Co to take Q4 charge of $1.7 mln

DENVER, Jan. 21 (Reuter) - Stillwater Mining Co said on Tuesday it plans to take a $1.7 million pre-tax,
non-recurring charge to fourth-quarter earnings which will reduce the net income by $1.0 million, or $0.05 per
share.

The company said the charge includes about $770,000 of research and development costs in the area of
smelter processing that were unsuccessful. Also, 1996 property taxes on new assets associated with the mine
expansion project were higher than anticipated.

To reflect the higher tax rate, Stillwater said it is increasing its full year accruals by about $400,000. The
remainder of the charges include adjustments to payroll accruals and materials and supplies inventories, the
company said.

Stillwater is the only U.S. producer of platinum and palladium.
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