Stillwater Canada To Scale Back Activities For Marathon PGM-copper Project

(RTTNews) - Stillwater Mining Co. (SWC, SWC_U.TO) said that Stillwater Canada Inc will scale back activities associated with the Marathon PGM-copper project. The permitting process for the Marathon PGM-copper project was suspended previously. Limited exploration activities will continue for the current field season and continuation will be dependent on positive results.

Stillwater Canada plans to maintain tenure and look for opportunities to realize value from the project in the future, while fostering relationships that have been formed with local aboriginal communities and municipalities.

The company previously said that 2014 expenditures for the Marathon PGM-copper project would be in the range of $5 to $10 million. As a result of the reduction in activities, Stillwater Canada Inc expenditures for 2014 are now expected to be in the range of $4 million to $6 million. Going forward, the Company expects project costs of approximately $1 million to $3 million per annum, depending on the level of exploration activity.