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Stock Market & Financial Investment News

News Breaks
December 20, 2012
12:27 EDTSWCClinton Group calls for changes at Stillwater Mining
Clinton Group announced that it has sent a letter to the board of directors of Stillwater Mining Company (SWC) demanding changes to the strategy, operations and management of the company. Clinton Group owns a significant stake in the company. The letter critiques the current management team and Board for a series of strategic missteps and bad acquisitions; operating with a bloated cost structure and marketing budget; and for issuing a high cost-of-capital convertible bond in October. The letter goes on to demand the board take seven steps to improve the cash flow and operations of the business. The letter also expresses the Clinton Group's view that the Company is undervalued and that taking the steps outlined in the letter can help stockholders realize fair value for the stock. The Clinton Group's valuation analysis concludes that fair value is approximately $21-23 per share.
News For SWC From The Last 14 Days
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April 17, 2014
16:17 EDTSWCStillwater Mining reports Q1 production from Montana mines
Production of palladium and platinum from the company's Montana mine operations totaled 130,700 ounces in the first quarter, a 2.8% increase over the same period in 2013. The 18.8% increase in East Boulder Mine production in this year's first quarter compared to the first quarter of 2013 was driven by slightly higher realized ore grades and higher tons mined. The 3.0% decline in ounces produced at the Stillwater Mine reflected lower ore tons mined and increased allocation of resources to development activities during the 2014 first quarter compared to the first quarter of 2013. During the first quarter, total volumes of palladium, platinum and rhodium processed from recycled material totaled 101,500 ounces, a decrease of 34.2% compared to the same period in 2013. The decrease in recycling volumes during the first quarter of 2014 was primarily due to weather related issues. Recycling material deliveries have increased subsequent to the end of the first quarter as overall weather conditions have improved.

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