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Stillwater Mining (SWC) agrees to buy Peregrine Metals (PTTDF.PK) for $487.1M in cash and stock....

Stillwater Mining (SWC) agrees to buy Peregrine Metals (PTTDF.PK) for $487.1M in cash and stock. The transaction gives Stillwater access to the undeveloped Altar open mine in Argentina, which has 7.4B pounds of indicated copper resources and 1.5M ounces of indicated gold.
Comments (6)
  • psmith819
    , contributor
    Comments (535) | Send Message
     
    why the hell is SWC down 18% so far today?
    11 Jul 2011, 12:46 PM Reply Like
  • 166649
    , contributor
    Comments (343) | Send Message
     
    This is ridiculous. SWC is a screaming buy here!
    11 Jul 2011, 02:30 PM Reply Like
  • CrimsonQueso
    , contributor
    Comments (2) | Send Message
     
    If I had to guess, I'd say a combination of the market, the fact that the mine is risky and takes away their focus from palladium (which is easily the most awesome metal), and maybe that they're selling off their own stock to purchase this mine?

     

    I don't really know anything about markets though, I just buy things that are very volatile.
    11 Jul 2011, 02:31 PM Reply Like
  • psmith819
    , contributor
    Comments (535) | Send Message
     
    Oh well - I'm long my SWC shares so I'm not going to sweat it. Platinum and Palladium will be scarce in the future so SWC will rise no doubt! If I had some extra cash around I'd buy more at these prices!
    11 Jul 2011, 03:18 PM Reply Like
  • CrimsonQueso
    , contributor
    Comments (2) | Send Message
     
    I sold at ~22 regretably around 2 weeks ago, but I bought in again just now at 18.34, so maybe I can make that back?
    11 Jul 2011, 07:40 PM Reply Like
  • 166649
    , contributor
    Comments (343) | Send Message
     
    SWC on CC "The Peregrine transaction provides us with broader diversification into copper -- a metal with favorable long-term fundamentals driven by growing market demand -- as well as meaningful exposure to gold."
    11 Jul 2011, 03:34 PM Reply Like
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