IKN suspects that the guys at Capstone and HudBay would like to offer their sincere thanks to Stillwater Mining (SWC)

In every commodities cycle there's always one deal, the one that comes right at the end of the top of the market and gets the title of biggest, most mistimed buyout of all with ensuing egg-on-face for the buyers. So thanks to Stillwater (SWC) completing the purchase of Peregrine (PGM.to) today, the guys at Capstone (bought Far West) or HudBay (bought Norsemont) won't be remembered as the major suckers cos the platinum guys get that award. Here's the NR:

Press Release Source: Peregrine Metals Ltd. On Tuesday October 4, 2011, 1:46 pm

BILLINGS, MONTANA and VANCOUVER, BRITISH COLUMBIA--(Marketwire -10/04/11)- STILLWATER MINING COMPANY (NYSE: SWC - News)(TSX: SWC-U.TO - News) ("Stillwater") and PEREGRINE METALS LTD. (TSX: PGM.TO - News) ("Peregrine") today announced the completion of the acquisition of Peregrine by Stillwater.
Stillwater has acquired all outstanding shares of Peregrine pursuant to a plan of arrangement under the Canada Business Corporations Act. The transaction was previously approved by the Peregrine shareholders, who voted in respect of the arrangement, and the British Columbia Supreme Court.
Effective today, each common share of Peregrine has been exchanged yada yada continues here

DYODD, dudes.