Stillwater Mining Company Raises FY 2011 Production Guidance; Issues Q2 2011 Revenue Guidance Above Analysts' Estimates

Stillwater Mining Company raised fiscal 2011 annual forecast for mined palladium and platinum production to 515,000 ounces from its original guidance of 500,000 ounces. Although the Company believes that production for fiscal 2011 is likely to be higher than originally planned, this cautious increase recognizes that mining conditions at both mines may be more difficult during the second half of 2011. The Company currently expects to report total revenues for the second quarter 2011 of $222.6 million, including $139.7 million from sales of mined production and $82.9 million from recycling. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report Revenues of $201 for second quarter 2011.