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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (154987)	6/25/2023 4:18:20 AM
From: Goose94	Read Replies (1) \| Respond to of 202736

Stillwater Critical Minerals (PGE-V) Glencore PLC has agreed to buy nearly 20 million shares at 25 cents each, a $4.94-million investment good for a 9.9-per-cent interest in Stillwater. The cash, Stillwater cheers, is for work at its various nickel projects in North America, chief among them being Stillwater West in Montana, which is a platinum group elements, nickel, copper, cobalt and gold project. A recent resource estimate credits Stillwater West with nearly 255 million tonnes grading 0.47 gram of precious metals per tonne and 0.27 per cent nickel -- good for a palladium equivalent grade of 1.19 grams per tonne. While the gold grade is tiny at 0.05 gram per tonne, the huge tonnage hosts nearly 400,000 ounces of gold to go with the 1.26 million ounces of platinum and two million ounces of palladium. Along with the nickel, copper and cobalt, the company lists nearly 10 million ounces of palladium equivalent at Stillwater West. Mr. Rowley, president and CEO, was "very pleased" to welcome Glencore as a major investor, a company he applauds as "one of the top five largest mining companies in the world." Mr. Rowley also concedes that the arrangement gives Glencore "certain customary rights," including the right to participate in future placements and to maintain its interest in Stillwater. There is no word about what other rights Glencore has been granted, but having a say in the company's operation is often customary with a 10-per-cent investment. Mr. Rowley appears unfazed either way -- or perhaps he is just too busy, cash in hand, booking drills and crews for the 2023 season. Business Reporter