Stillwater Mining Releases Report on Palladium Fundamentals

STILLWATER MINING COMPANY SWC SWC in an investor statement today reported that demand for palladium is intensifying worldwide resulting from price-driven substitution of palladium for platinum in gasoline and diesel catalytic converter applications, expanding automotive production and ever more stringent governmental emission regulations. Amplifying on these developments, Stillwater has posted a 15-point review on its website entitled "Palladium Fundamentals" confirming the positive outlook for palladium and dispelling misconceptions prevalent in the market and among some analysts as to the status of catalytic converter technology. Direct link - www.stillwatermining.com/market/fundamentals-2012. The Company commented further that these primary demand drivers for palladium are buttressed by some compelling, but often misunderstood, palladium fundamentals. Such fundamentals include the fact that today's gasoline emission catalytic converters, building on technological advances first introduced a decade ago, allow for the substitution of palladium for platinum on a one-for-one, ounce-for-ounce basis. Further, a notable recent development is that today most gasoline catalytic converters manufactured are predominantly palladium-based, contain essentially no platinum, and are augmented only with a small dose of rhodium to facilitate the reduction of nitrogen oxides. The Company observed that the technological advance permitting one-for-one substitution of palladium for platinum apparently has strengthened the market for palladium in gasoline catalytic converters.