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Stillwater Mining Company Message Board

  • day_trader42 day_trader42 Jan 27, 2008 6:47 PM Flag

    South African Mines to Get More Power After Shutdown

    To all the longs that made it seem as if these mines would be without power for weeks. it is back on and in a few days so will mining. Sell the news, like it is said to do. http://www.bloomberg.com/apps/news?pid=20601013&sid=adKMzi74zhX0&refer=emergingmarkets

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    • Typical short trader. Did you even bother to read the article, I doubt it.

      Quote from the last paragraph of your link

      "Eskom, however, can't guarantee uninterrupted power supply to industrial users for at least two weeks and possibly as many as four. "
      If power is up expect more problems.

    • Ah so the news was out much before the buying started. PAL acted really weird as it was moving up against the market the other day and I thought it was just buyers coming in and sellers leaving but guess they got the news before anyone else did...

      So this is not a long term problem but a sudden one caused by bad weather... LOL... Its funny, but GSS had the same problem once and we still joke about it cause their mine got flooded.. Seems SA actually has excess generation problem unlike other african countries...

      -----------------

      Eskom asked 138 industrial customers on Jan. 24 to cut use after heavy rain damaged coal stocks, cutting generation that threatened to destabilize the entire grid. On a weekday when all mines and other industrial plants are running, the country can use about 36,000 megawatts. Eskom has the ability to supply about 39,200 megawatts.

 
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