Key Developments: Stillwater Mining Co (SWC)
12.38USD
23 May 2013
$-0.13 (-1.04%)
$12.51
$12.35
$12.53
$12.29
175,627
2,096,023
$14.87
$7.47
Latest Key Developments (Source: Significant Developments)
Stillwater Mining Co Announces Governance Changes
Stillwater Mining Co announced the election of Brian Schweitzer, the former governor of Montana, as Chairman of the Board. Governor Schweitzer, elected to the Board at the Company's Annual General Meeting of shareholders on May 2, 2013, replaces Frank McAllister as Chairman. Mr. McAllister, who has served as Chairman and Chief Executive Officer (CEO) of the Company since 2001, will continue in the role of CEO and President of the Company during an interim period while the Board seeks a suitable candidate to succeed him. A committee of the Board has been established to carry out the CEO search, which will begin immediately. Full Article
Stillwater Mining Co Reiterates FY 2013 Production Guidance
Stillwater Mining Co reiterated its fiscal 2013 guidance of 500,000 ounces of mined production. Full Article
Levi & Korsinsky, LLP Launches Investigation into Possible Breaches of Fiduciary Duty by Board of Directors of Stillwater Mining Co
Levi & Korsinsky, LLP announced that is investigating Stillwater Mining Co, and its Board of Directors, in connection with possible claims of breaches of fiduciary duty. Full Article
Stillwater Mining Co Issues FY 2013 Production Guidance
Stillwater Mining Co announced that it expects mine production guidance for fiscal 2013 is again projected at 500,000 ounces. Full Article
Stillwater Mining Co Reaffirms FY 2012 Production Guidance
Stillwater Mining Co reiterated fiscal 2012 guidance for mine production of 500,000 ounces. Full Article
Stillwater Mining Co Prices Offering of $345.00 Million of Convertible Senior Notes
Stillwater Mining Co announced that it has priced its previously announced offering of $345.00 million aggregate principal amount of 1.75% convertible senior notes due 2032. The Company has also granted the underwriters of the notes a 30-day over-allotment option to purchase up to an additional $51.75 million aggregate principal amount of the notes (subject to certain limitations), solely to cover over-allotments. The Company intends to use the net proceeds from the offering to repay amounts that may come due under the Company's outstanding 1.875% convertible debentures in March 2013, and any additional proceeds may be used for general corporate purposes. Credit Suisse Securities (USA) LLC and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering, which is being made pursuant to an effective shelf registration statement (including a prospectus and related prospectus supplement for the offering). Full Article
Stillwater Mining Co Arranges $300 Million Note Offering-Canada Stockwatch News
Canada Stockwatch News reported that Stillwater Mining Company intends to offer $300-million total principal amount of convertible senior notes due 2032, subject to market and other conditions. The Company expects to grant the underwriters of the notes a 30 day overallotment option to purchase up to an additional $45 million total principal amount of the notes, solely to cover overallotments. The notes will pay interest semi-annually and will be convertible, under certain circumstances and during certain periods, into cash, shares of the Company's common stock or a combination thereof, at the Company's election, based on a conversion rate to be determined. If the price of the Company's common stock exceeds the base conversion price during specified periods applicable to conversion, holders will receive additional shares of the Company's common stock upon conversion, as determined based on the incremental share factor. The interest rate, base conversion rate, base conversion price, incremental share factor and other terms of the notes will be determined at the time of pricing of the offering. The Company intends to use the net proceeds from the offering to repay amounts that may come due under the company's outstanding 1.875-per-cent convertible debentures in March, 2013, and any additional proceeds may be used for general corporate purposes. Full Article
Stillwater Mining Co Reiterates FY 2012 Production Guidance
Stillwater Mining Co reiterated fiscal 2012 guidance for mined production of 500,000 ounces. Full Article
Stillwater Mining Co Reaffirms FY 2012 Production Guidance
Stillwater Mining Co reiterated its fiscal 2012 guidance of approximately 500,000 ounces of mined production. Full Article
Starfield Resources Inc. Sells 179 Mining Claims To Stillwater Mining Co-Canada Stockwatch News
Canada Stockwatch News reported that Starfield Resources Inc. has completed the sale of 179 mining claims in the Stillwater district of Montana to Stillwater Mining Company (SMC). The transaction was completed on a private basis between the two companies and is worth approximately $2-million (U.S.). The funds will be used for working capital and exploration in Canada and the United States. The claims, which are at the eastern end of the Stillwater complex, were deemed to be non-core to the Company, which is focusing exploration efforts on the western end of the district. Full Article
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