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Stillwater Mining Company Message Board

bigsee4c 123 posts  |  Last Activity: 10 hours ago Member since: Sep 6, 2011
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  • Reply to

    Vote 'results' are announced.

    by newguy7001 12 hours ago
    bigsee4c bigsee4c 10 hours ago Flag

    The only thing I could think of was that BAM might have been accumulating shares, and then abstained on the agreement and BoD votes. But why would they have bought out shares at .03-.05, or more, when they could get them at a fraction of that price later.

    Plus, only 8,392 K shares voted "no"?? That's less than $170K worth. Puzzling.

  • Reply to

    Vote 'results' are announced.

    by newguy7001 12 hours ago
    bigsee4c bigsee4c 10 hours ago Flag

    You got a good point, newguy. 186K+ shares voted on whether or not to keep KPMG, but less than a quarter of those shares voted on the arrangement or BoD? Sure. Being prevent from voting doesn't explain this 77% difference, as those who were kicked out would not have been part of the 186K number either.

  • Reply to

    Serious Question

    by nettlesm24 Jul 29, 2015 4:27 PM
    bigsee4c bigsee4c 15 hours ago Flag

    Thanks.

    Any further thoughts on what the ""inventory and others" $7.7M expense offset refers to. I thought the same as you about not being able to defer wage expenses, but wasn't sure if that accounting standard might be different in Canada. A moot point, no doubt, but triggered my curiosity.

  • Reply to

    Vote result?

    by bellbell63 18 hours ago
    bigsee4c bigsee4c 17 hours ago Flag

    Few may turn up to a special meeting, but usually those few have a larger number of shares.

    I wouldn't expect they would announce an outcome prior to the end of the meeting voting window. Do you know what time this meeting was scheduled for?

  • Reply to

    Funny...I am only 'barebuttbob'....lol

    by barebuttbob Jul 28, 2015 11:45 PM
    bigsee4c bigsee4c 17 hours ago Flag

    Just pointing out what I see, no rumors needed here.

    Besides, which is really worse?
    A) A multi-aliased troll, who obsessively posts irrelevant and inappropriate political tripe. (You can add ratfinkboy to that list)
    or …
    B) A new (9 days) member, with a single screen-name which imitates an existing screen-name, and who also posts irrelevant and inappropriate political tripe.

    BTW, that was a rhetorical question. No need to answer.
    Obviously, either one is lame, and apparently in need of adjustment in medication.

    Enough feeding ... I do not intend to engaging any further.

  • Reply to

    Funny...I am only 'barebuttbob'....lol

    by barebuttbob Jul 28, 2015 11:45 PM
    bigsee4c bigsee4c Jul 30, 2015 12:46 AM Flag

    Thank you for clearing that up. That is amazing! So sorry for not recognizing your legitimacy.

    You might consider buying a lottery ticket, given the odds of what you say.

    Aside from the obvious "barebuttbob" baring a remarkable resemblance to the name "bareassbob", (I'm sure you can forgive me for this confusion), there are also those anti-Hillary & pro-Trump mini-rants.

    What are the odds that you could find so many simpatico posters, who have such strongly similar opinions, AND a willingness to post inappropriate / irrelevant (to investment board dialog), AND with oddly similar screen names?

    This is obviously your lucky day! You should take advantage of these 1:10,000 odds days, which don't come around very often. Lady luck will surly be on your side of someone, in these circumstances, who truly has no other Yahoo identity.

  • bigsee4c bigsee4c Jul 29, 2015 9:45 PM Flag

    Or ... maybe they know the dynamics, just fine. Now that BAM is in control of the purse strings, and management doesn't have to get down on their knees for every cash extension, BAM can paint whatever picture it's muse inspires, so long as they are willing to fund it. Maybe, a painting of a stockpile of higher grade ore is more "auctionable"? Who knows. But I wouldn't underestimate BAM, or lump them into the lot of previous PAL management "idiots".

    Time will tell.

  • Reply to

    Serious Question

    by nettlesm24 Jul 29, 2015 4:27 PM
    bigsee4c bigsee4c Jul 29, 2015 5:38 PM Flag

    Didn't we hear that NAP was beginning to bring up more than 5K from underground in Q2 (prior to tailings fiasco). It was also my understanding that the 5K TPD in 2015 guidance was primarily limited due to tailings facility capacity. Now, that they have some extra silt bags stacked up around the pond edge, will that figure be adjusted when they reassess guidance? Or will depressed PGMs over-ride any plans to exploit more, faster. I'm thinking the later is more likely.

    "the cost of building the UG stockpile was incurred in Q2 but revenue will be in Q3."

    Are you sure about that? I'm not sure if you saw my question on your cash squeeze thread, but the reduction of production expenses by $7.7M in "inventory and others" sounds to me like they are deferring the expenses related to inventory. Let me know if you think that is something else.

  • Reply to

    No live questions

    by bellbell63 Jul 29, 2015 10:16 AM
    bigsee4c bigsee4c Jul 29, 2015 2:22 PM Flag

    The transcript (available on Seeking Alpha) included no Q & A, and no answers to e-mails.

    It ended with a thank-you to employees. Though, IMO, they showed absolutely no regard or acknowledgment for shareholder's misfortunes.

    A comment regarding the upcoming rights offer:
    "We see this as a positive and another step in the right direction in helping to secure the longer term future and viability."

    "another step in the right direction" ?? I must have missed the previous ones.

  • Reply to

    Once again in cash squeeze

    by bellbell63 Jul 29, 2015 8:49 AM
    bigsee4c bigsee4c Jul 29, 2015 1:57 PM Flag

    I would have thought they might have burned through even more cash, given that the mill was down for half of Q2.

    I found a couple things odd. First, it appears that they reduced their mining operational expenses by $7.7M in "inventory and others". So, is this an expense deferment that they plan to take next quarter when inventor is processed? … or something completely different?

    The other thing that struck me as odd was that they appear to have MOE permission to run the mill at double the historical rate, so soon after the tailing leaks !?

    "The initial mill start-up was at 8,400 tonnes per day ("tpd") and, for a period in July, the milling rate was increased to 11,500 tpd."

    It's hard to imagine the First Nation agreed to that one.

  • Reply to

    Seal the mine for several years

    by barebuttbob Jul 28, 2015 11:00 AM
    bigsee4c bigsee4c Jul 28, 2015 8:36 PM Flag

    barebuttbob (Member since: Jul 21, 2015)
    bareassbob (Member since: Jun 8, 2015)
    muslimtoilet (Member since: Mar 27, 2015)
    youareatotalfake (Member since: Jun 8, 2015)
    hillaryisapig (Member since: Mar 17, 2000) -- Hmm. An original? (same as trump and youare...fake)
    trumpmyman (Member since: Jul 19, 2015)
    democratsrdonkies (Member since: Jun 9, 2015)
    condritin (Member since: Jun 15, 2015)
    tjmandracus (Member since: Jun 19, 2015)
    pmguy55 (Member since: Jun 25, 2015)
    Others (Member since: ?)

    How much time do some kids have on their hands??
    And why does Yahoo care so little about multi-handled troll abuse, which they don't even have it in their rules / terms of use?

    Commonality: Short, unsubsanciated provocation. At times, inappropriately political rants. Rarely any substance. Childish.
    All the same person? -- Don't know. Don't care.
    Several the same? -- Most likely.
    Some also the same as the multi-headed trolls of other mining boards -- Also probable.

    Someone recently reminded me of my own advise. "You can't fix stupid." & "Don't feed the trolls".

    And then you have "muckerboy" (Member since: Jul 28, 2015) - today! He gives 4 (more reasonable sounding) replies, but all from a brand new screen-name, all within the same half hour, most digging up old posts.

    Decide for yourself.
    I'm once again considering a different forum.
    Let the trolls talk to themselves.

  • Reply to

    Workers will shut mine for management

    by youareatotalfake Jul 27, 2015 9:22 PM
    bigsee4c bigsee4c Jul 28, 2015 12:52 AM Flag

    Just to let you know, I suspect you are replying to a troll.

    Just look at his #$%$ name ... then click on it to see posting history (including content).

    How many of the other recent inane posts, with similar sounding content and political(ish) screen-names, are from this same troll?

    Sad that Yahoo boards attract such …

  • Reply to

    Lei is bak two gave addvise to all share holter.

    by lp1_lp2 Jul 27, 2015 5:27 PM
    bigsee4c bigsee4c Jul 27, 2015 8:10 PM Flag

    Boy this sure sounds like that old, fake bad-English poster we used to get here years ago. "Sum ravenge ... hoo stoal"? Kinda trying a bit too hard, isn't that? Is that you, Johnnyguitar / Johncrapp?

  • bigsee4c bigsee4c Jul 27, 2015 7:57 PM Flag

    Yeah, saw that. Maybe, it will be a different outcome this time around. It would be nice to have that buttoned up prior to the earnings CC on Friday.

  • Reply to

    PD "report"

    by bellbell63 Jul 23, 2015 9:48 AM
    bigsee4c bigsee4c Jul 25, 2015 9:43 PM Flag

    FYI - I didn't delete my replies. Someone else, or Yahoo, must have.

  • Reply to

    Lonmin

    by bigsee4c Jul 24, 2015 3:15 PM
    bigsee4c bigsee4c Jul 25, 2015 8:34 PM Flag

    The sidelines are a fine place to be, especially if you foresee Pd not averaging more that $600 for the year. You already know that's not how I anticipate prices. But it wouldn't be much of a market if everyone saw things exactly the same.

    One chart I found very interesting this week was the Goldman Sachs Commodity Index (10 years). We have not seen the sort of commodity price plummet which we've experienced the last 12 months since the second half of 2008.

    In early 2009, the turn around began after only a few months bouncing around lows which were not much lower than we are seeing today. Then price recovery lasted for a nice two years. Past patterns don't necessarily repeat, so follow your own analysis and instincts. But check out that 10 year (or 15y or 20y) GSCI chart ($GNX) -- it's worth a Google search. I sure found it eye opening ... and maybe even encouraging.

  • Reply to

    Lonmin

    by bigsee4c Jul 24, 2015 3:15 PM
    bigsee4c bigsee4c Jul 25, 2015 4:57 PM Flag

    If someone doesn't see the 9% drop in Norilsk's Q1 production as relevant or has read more recent updates on Potanin's plan to have a consortium buy Pd from Russia's C.B. -- Please share. That would be interesting to read.

    Otherwise, a thumbs-down on this sort of post, without stating why, is generally confusing and unhelpful.

  • Reply to

    Lonmin

    by bigsee4c Jul 24, 2015 3:15 PM
    bigsee4c bigsee4c Jul 24, 2015 5:08 PM Flag

    Arguably a larger impact on Pd supply would be Norilsk's Q1 Pd production having dropped 9%. We should have an idea if this was a 1 quarter issue, or if Q2 will also be down, when Q2 results come out. Whether or not they may be buying some of Russian C.B.'s Pd and "leaking" it into the market, is another question, about which I would really like to see more transparency.

  • bigsee4c by bigsee4c Jul 24, 2015 3:15 PM Flag

    ... announced today that they were mothballing several shafts and planning to cut $6000 jobs. It's a start.

  • Reply to

    PD "report"

    by bellbell63 Jul 23, 2015 9:48 AM
    bigsee4c bigsee4c Jul 24, 2015 2:12 AM Flag

    I check Kitco on a daily basis, often several times per day. You are right to point out the risks of cruel trends, as is Bellbell. However, I prefer to temper technical analysis with how I interpret the fundamentals. This might be risky before the Fed starts raising rates. But honestly, how much of the latest rout in all metals (and most commodities) can be attributed to an expected 1/4 percent raise in US rates? I've gotta believe that some of this rout is speculative shorts juicing China's margin squeeze, or playing on Greek fears, etc. If that is the case, Pd's downward trend "should" reverse fairly shortly -- within days, weeks, or (hopefully at the longest) months. I'll leave the specific timing to the chart wizards.

    On the fundamentals side, Reuters had an article, yesterday (a Kitco link) which sums up my outlook on my favorite precious metal, "Palladium under siege but strong fundamentals may end carnage." Time will tell which barometers are more accurate.

SWC
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