The Conversation (0)
Stillwater Declares Third Quarter Results Are Solid In Spite Of Volatility
Oct. 31, 2012 10:32AM PST
Precious MetalsMineweb reported Stillwater Mining (NYSE:SWC) said third quarter results were solid despite volatility in the platinum group metals complex.
Mineweb reported Stillwater Mining (NYSE:SWC) said third quarter results were solid despite volatility in the platinum group metals complex.
Stillwater’s CEO, Frank McAllister said:
Production results and costs were in line with expectations. We have reiterated our 2012 mine production guidance of 500,000 PGM ounces and a cash cost guidance of $500 per mined ounce.
We conclude this year’s lost production from South African strikes at Impala, Lonmin and Implats, from two closed South African mines and from lower PGM production could reduce 2012 PGM production by up to an estimated 1.2 million ounces compared with 2011 production.