Location

The 4,600-acre Stillwater project is located in south-central Montana and is adjacent to the Stillwater mine, which is owned and operated by Stillwater Mining Company (SMC).

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SMC’s operation, which includes the Stillwater and East Boulder mines, produces the highest grade PGE and is the 3rd largest PGE producer in the world. In 2007, the Stillwater operation produced 537,500 ounces of PGE at an average head grade of 0.52 oz/ton (17.8 g/t). Reserves were 40 million tons containing approximately 21.2 million ounces of Pd and Pt at the end of 2007.