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Stillwater Mining Company Message Board

  • Alex1444 Alex1444 Feb 1, 2012 12:51 PM Flag

    I'm out - good luck SWC investors

    Sorry but I couldn't take it any more. I just sold out my entire position in SWC. I had planned to wait for a buyout, but my patience for Frank and "his" board of directors. Yes "his" board of directors, check the CC transcript last year - Q2 report I believe - Frank responded to a question with "you sound like my board" (of directors). Not "you sound like Stillwater's board", not "you sound like the SWC shareholder's board of directors", but "my board". As if the board of directors is beholden to Frank, rather than the shareholders. And unfortunately, that's exactly how the board of directors has acted, as if they are working for Frank, rather than for the shareholders.

    I feel that SWC is worth FAR more than current price ($13.53/share). I hope the stock doubles from here this year, for the sake of the long-suffering shareholders. And I regret that - having sold my shares - I won't be able to vote NO to retention of the entire SWC board of directors, on the upcoming ballots. I actually hate it when people sell their shares rather than trying to remove bad management, but the rise in SWC this year has allowed me to exit now with a very small loss (last year I hugely up, then hugely underwater, in total shares).

    I absolutely detest Frank McAllister for what he's done to myself and other SWC shareholders, and I despise the SWC board of directors for their endless support of Frank, without regard to the shareholders (not even allowing SWC shareholders to vote on a major change of direction, i.e. the Peregrine acquisition) who actually own the company and pay their salaries. Again, good luck shareholders; without a demented CEO/Chairman this stock should be worth so much more, but I can no longer deal with this BS. I've enjoyed the input of most participants on this message board.

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    • My bet is we will not see Alex ever again on the way all the way to triple digit SWC shares. Pity he had been sticking along for so long but yet he lost his patience right when SWC is about to take off big time. That is the nature of the market.

    • When I came up with this in one of my posts, I obviously was joking.

      However there is a report out from Canada, about the feasibility of Canadien companies (maybe PAL????) to mine ... THE MOON! Unbelievable, they can't even successfully in North America and now they want to do the moon! SEE BELOW:

      MONTREAL - Canada could play a key role in a new international space race, with the next sprint to the moon gearing up as an extra-terrestrial gold rush.

      Industry insiders will be watching closely this week as the heads of the world's five biggest space agencies get together in Quebec City, where the partners on the International Space Station will discuss more than just the future of the orbiting lab.

      They will also address an idea gaining currency in business and scientific circles: that within human reach lies an unfathomable wealth of resources, some of them common on Earth and others so exotic that they could change the way we live.

      Canada could figure prominently in any discussion about lunar exploration, with nearly one-quarter of the world's top mining companies headquartered here and this country also known for robotics like the famous Canadarm.

      Several countries, including China, have expressed a desire to start mining the moon's resources. The mining industry is now waiting for the Canadian Space Agency to make its intentions known, while the agency awaits direction from the federal government.

    • As the need for gasoline increases ... so does the need for platinum/palladium! Check this article out:

      What platinum does

      Platinum is used in the processes known as reforming and isomerisation, which create the higher octane components for gasoline. Platinum is key to the production of gasoline - without it, refineries would not be able to produce enough gasoline to meet current requirements.

      Other platinum group metals
      Palladium is used by a limited number of refiners for upgrading certain refinery feeds in a process known as hydrocracking. Iridium can also be used in conjunction with platinum in a few niche reforming applications.

    • Contrary to the rosy reports that Impala is putting out to the western world, things are looking worse not better in South Africa.
      See report at end of this post.

      My comments: this whole situation there is looking to be a time warp trip back 80 years to the original Rand Revolt where the government at the time was forced to use their own air force to strafe and kill hundreds of miners after the army met fierce armed resistance in shooting them. Johannesburg looked like a battle field out of WWI. Big difference: the original Rand Revolt was WHITE MINERS AGAINST A WHITE GOVERNMENT. This time around it is black miners against a black government. And this black, supposedly "revolutionary" government WILL NOT USE FORCE against its own people in that it is hanging by the skin of its teeth the way it is!

      South African News Report:

      Numsa wants new ANC leaders
      2012-02-25 21:17

      Johannesburg - The National Union of Metalworkers of SA (Numsa) has called for a change of leadership within the ruling party, according to a report on Saturday.

    • This little goodie below is just basically from one mine!

      "Impala is losing 20,000 troy ounces of output every week the mine remains shut"

    • ... sooner than the "analysts" thought.

      More evidenece of this is that reports are starting to come out with this. I love the word "sketchy" below for the rioting, murder, and complete chaos at Impala!


      Platinum: US$1707 – up US$80 since last week.

      The "sketchy" situation at Impala Platinum has helped Platinum to this impressive five per cent gain in the last week. The discount to Gold has been eroded further to just US$65, and it seems that a number of reasons for this strong move are already priced in, at these current levels. The major resistance level at US$1740 represents quite a strong technical level, and there might be doubts in the investment community about challenging this resistance as of now.

      There are views in the market that Eskom (South African Electricity company) might announce further electricity cuts, which would lead to more production losses in Platinum, which in turn, might be bullish for the metal. Another discussion point is that the on-going strike at Impala will lead to a complete wipe-out of the expected Platinum surplus for 2012, with all the positive aspects for the price development becoming clearer later in the year.

    • The myth of electric cars comes from what psychologists call the cult of "magical thinking"; where if you believe something long enough, and can convince enough people of it, it can happen.
      Another myth: solar panels. The Admnistration funded one of these ops to the tune of one billion dollars and they could not give these things away and went bust not even a year later.

      So no worries here, platinum and palladium have nowhere to go but up based on two fundamental realities: scarity and growing demand as the world produces more people and economies develop. Simple stuff.

    • I am out also; but for different reasons. With most contries switching to EVs, that would mean the demise of platinum group metals.

      • 1 Reply to richardhine19
      • Worried about switchover to EV's too, but you are going to need the infrastructure for it, plus extra power-generating capacity. Africa, India, China, and even Japan after the tsunami are at their limits of power capacities. Not enough juice to start charging up vehicles, although I would agree with you, that in a lot of densely-populated countries EV's are bound to replace internal combustion engine vehicles. Gonna take a lot of time and money invested.

    • That was proven to be good riddance, wasn't it? When the sellers have been exhausted you expect a power rally finally. Only people with extreme patience would be rewarded at the end.

      I have never abandoned SWC, I still hold 85 of my 401K in SWC and nearly half of my regular stock trading account in SWC. Although I am now also heavily into coal mining stocks JRCC and PCX. I missed the bulk of the huge rally in JRCC in 2007/2008 even though I caught the perfect bottom. I will not make that mistake again. I will never make the mistake of letting go of my SWC shares even for a moment, ever.

    • Alex, Good move to sell into strength.. Better than the other way.

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