Stillwater Mining Company Reports Quarter 2016 Results

Stillwater Mining (NYSE:SWC) has reported its financial results for the quarter ending March 31, 2016.
As quoted in the press release:

First Quarter 2016 Highlights:

• All-in sustaining costs (AISC)* of $613 per mined ounce of palladium and platinum, down 19.7% from $763 per mined ounce for the first quarter of 2015
• Cash and cash equivalents plus highly liquid investments of $452.4 million at quarter end
• Mined palladium and platinum production of 137,300 ounces, an increase of 3.0% from the 133,300 ounces mined during the first quarter of 2015
• Processed 154,200 ounces of recycled palladium, platinum and rhodium, an increase of 41.9% over 108,700 ounces recycled during the first quarter of 2015
• Consolidated net loss attributable to common stockholders of $9.9 million or $0.08 per diluted share, reflecting the decrease in average sales price per mined ounce (palladium and platinum) to $612, a 29.7% decrease from $871 realized for the first quarter of 2015.

Mike Mullen, president and CEO, said:

From an operational perspective, the first quarter of 2016 was a very good start to the year. AISC* for the quarter of $613 per mined ounce was a great result that was slightly better than the lower end of our current annual guidance range of $615 to $665 per mined ounce. Further, this performance was consistent with our result for the fourth quarter of 2015 and demonstrates that we have achieved a new operating cost structure. Our mined production was a strong result and is showing the benefits of our productivity drive over the past two years.

Click here for the full press release.