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Stillwater Purchases Argentina Copper Mine
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- Created on Monday, 25 July 2011 17:12
- Written by Press Room
Stillwater Mining Company at Nye, Montana and Peregrine Metals Ltd. announced that Stillwater will acquire outstanding shares of Peregrine. The agreement placed a value on Peregrine common shares of $3.28 per share. This represents a total purchase price of $487.1 million.
Stillwater plans to develop and operate Peregrine’s Altar porphyry copper-gold deposit, a large, undeveloped open-pit resource located in the San Juan province of Argentina. Altar has copper resources of 7.4 billion pounds of copper and inferred copper resources of 4.3 billion pounds, both at a 0.3% copper equivalent cut-off grade. The property also has significant gold resources, with 1.5 million ounces of measured and indicated resource and an inferred resource of 880 thousand ounces.
CMR Closes Major Equity Investment
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- Created on Monday, 25 July 2011 16:30
- Written by Press Room
Billings, Montana-based Central Montana Resources, LLC (CMR), announced the closing of a placement of $27 million dollars of its common equity led by Maverick Capital, a multi-billion dollar private investment fund.
The $27 million dollar equity investment brings the total common equity capital raised by Central Montana Resources since February of this year to approximately $47 million in gross proceeds.
Stillwater Gets Union Contract
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- Created on Monday, 25 July 2011 17:11
- Written by Press Room
Stillwater Mining Company reported that union employees at the Stillwater Mine and Columbus processing facilities, represented by the USW International Union Local 11-0001, have ratified a new four-year labor agreement.
Stillwater Mining Company is the only U.S. producer of palladium and platinum and is the largest primary producer of platinum group metals outside of South Africa and the Russian Federation.
The agreement grants a five percent raise for each of the first two year, and a four percent raise for each of the following two years.
Housing Gets Affordable
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- Created on Monday, 04 July 2011 13:49
- Written by Press Room
An increase in home affordability throughout most of Montana’s major real estate markets was the main highlight of the annual report on Housing Affordability and Montana’s Real Estate Markets, which was released by the Montana Association of Realtors. The report includes an index that calculates whether the prevailing median household income can afford the median-priced home. An index below 100 denotes less affordability, while one over 100 denotes more affordability.
New Officers at Stockman Bank
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- Created on Monday, 25 July 2011 17:06
- Written by Press Room
Jeremy Morgret and Scott Degnan have joined Stockman Bank. Morgret will be the vice president, branch manager of Stockman Bank Downtown. His responsibilities will include overseeing bank operations, management and employee supervision, and all lending activities when the downtown bank opens in December. Morgret brings over nine years of banking experience , having most recently served as the branch manager for First Interstate Bank in Polson.
Scott Degnan will be vice president, Ag loan officer for the Billings market. His responsibilities include developing and servicing agricultural loans and assisting clients with their lending needs.
Degnan brings over 15 years of banking experience to the position. He most recently served as the assistant vice president, Ag/commercial loan officer for a regional bank in Billings. Degnan earned a bachelor of science degree in agricultural economics from the University of Wyoming in Laramie.
MCA Blasts Illegal Open Cut Mining Operators
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- Created on Monday, 04 July 2011 13:53
- Written by Press Room
The Montana Contractors’ Association is voicing strong concern about illegal open cut mines (gravel pits) surfacing in several counties in eastern Montana. Several of the pits have reportedly been opened to provide scoria to the oil and gas industry in eastern Montana and western North Dakota.
Housing Market Continues to Slip
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- Created on Monday, 25 July 2011 16:36
Real estate prices in Billings, as in the rest of the country, are continuing to slip.
The average and median price of single family homes has dropped four percent during the first six months of this year, and closed sales in the Billings market in the first six months is down 18 percent compared to the same period last year.
MDU Gets Leases in Bakken, Optimistic for Future
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- Created on Monday, 04 July 2011 13:54
- Written by Press Room
MDU Resources Group, Inc. announced the acquisition of 20,000 additional acres of leaseholds in the Bakken oil play. The new leaseholds are in Richland County, Montana. The company now holds a total of approximately 90,000 net acres of leaseholds in the Bakken.
