Stillwater Mining mined 144,000 oz of platinum group metals (pgms) from its interests in the South-Central Montana during the first-quarter of 2007 - down from 146,000 oz for the same period last year.

The decline in production had been expected and has been attributed by Francis R McAllister, Stillwater Chairman and Chief Executive Officer, to ongoing restructuring and measures being taken to ensure the viability of the East Boulder and Stillwater mines in the long term.

Meanwhile, the smelter and recycling facilities at the two mines processed 87,000 oz of pgms, up from 60,000 oz during the year-ago quarter.

Nonetheless, the increased volume of recycled material and the consequent improved performance in this area was not enough to prevent Stillwater posting a loss of $1.1 million for the quarter.

Mr McAllister said: "Despite the $1.1 million loss recorded for the first quarter of this year, we are very pleased with the progress shown over the past year or so in advancing the developed state of the mines and transforming our operations to strengthen their long-term economic viability."

Source:

Stillwater Mining Reports First Quarter 2007 Results, 03/05/07
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