Stillwater Mining Co. that mines palladium and platinum announced that it lost $131.9 million in the fourth quarter, citing the world economy’s slump. Francis R. McAllister, Stillwater chairman and chief executive, said: The 2008 results are truly disappointing, in particular after the company’s comparatively strong performance earlier in the year. For full story, click here
The past week finally saw Palladium dipping 1.97% on the week and is still hovering around the important $200 level. The up-trend is still intact and is likely to push palladium up and above $200 very soon. For full story, click here
Spot palladium was steady at $197/200 an ounce from $196.50 in New York on Monday. Palladium being industrial in nature is suffering from weak economic activity. For full story, click here
U.S. palladium imports dipped by 23.6% in January from a month ago, and was down 69.0% from the previous year. For full story, click here
The following are the results for today’s unusual stock volume scan. The scan looks at the previous day’s volume and compares it to the recent average volume. For full story, click here
RJK Explorations Ltd. reported that it has optioned the Dorion South property that consist of 9 claims in the Magma Metals PlatinumPaladium Discovery area, 60 km northeast of Thunder Bay. For full story, click here
Palladium remain unchanged at $198 an ounce in trade market today. For full story, click here
Colossus Minerals Inc. announced today the closing of its bought deal offering saying that a total of $24.7 million has been raised including 1.5 units of the over-allotment. Proceeds of the financing will mainly be used to advance the Serra Pelada gold and platinum group metal project in Brazil.
Palladium has enjoyed a similar rally to platinum, fixing at $217/oz on 18th February, its highest since November 2008. There is a solid reason for the recovery — production is being reduced at many mining companies, and Norilsk reiterated its much-reduced output forecast for 2009. For full story, click here
Palladium tracked platinum in Asia and London; it declined to $189 ahead of the NY session where some buying interest anchored it. It finally closed at $190. For full story, click here
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