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North American Palladium Ltd

Publié le 25 février 2009

Announces Fourth Quarter and Year Ended December 31, 2008 Results

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Mots clés associés :   Copper | Dollar | Nickel | Palladium | Precious Metals |

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North American Palladium Ltd.
TSX: PDL
NYSE Alternext US: PAL
Other Recent News

February 24, 2009
North American Palladium Announces Fourth Quarter and Year Ended December 31, 2008 Results
TORONTO, ONTARIO--(Marketwire - Feb. 24, 2009) - North American Palladium Ltd. (TSX:PDL)(NYSE Alternext US:PAL) today announced financial results for the fourth quarter and year ended December 31, 2008.

"In response to the difficult market conditions we faced in the last quarter of 2008, North American Palladium reacted quickly to preserve the health of the Company by putting our Lac des Iles mine on temporary care and maintenance" said William Biggar, President and CEO. "Accordingly, we have maintained a strong balance sheet, with $86 million in working capital and no long-term debt. The $7 million exploration program previously announced on our Offset Zone at the Lac des Iles mine is now underway and updates on the drill program will be provided as results are received. Management also continues to work on a prefeasibility study for the Offset Zone, as well as a mine restart plan with the objective of streamlining processes and lowering operating costs."

FINANCIAL HIGHLIGHTS

- On October 29, 2008, due to a dramatic decline in the price of the Company's main metals, palladium and platinum, the Lac des Iles mine was temporarily placed on a care and maintenance basis. Revenue after pricing adjustments for the year ended December 31, 2008 was $125.5 million, a decrease of $70.4 million (36%) from the prior year.

- For the year ended December 31, 2008 the Company reported a net loss of $160.7 million or $1.94 per share compared to a net loss of $28.7 million or $0.51 per share for the year ended December 31, 2007. The results for 2008 include a $90.0 million or $1.09 per share non-cash impairment charge on the Company's investment in its Lac des Iles mine due to prevailing market conditions. Excluding the impairment charge, the net loss was $70.7 million or $0.85 per share.

- Net working capital was $86.1 million at December 31, 2008, including cash and cash equivalents of $43.1 million and concentrate awaiting settlement of $43.1 million.

- The Company's total debt was reduced by $31.5 million in 2008 with no long-term debt as at December 31, 2008.

- Palladium production for the year ended December 31, 2008 was 212,046 ounces, a decrease of 26% compared to 286,334 ounces in the prior year, which reflects the 10 months of production in 2008 prior to the Lac des Iles mine being placed on temporary care and maintenance.

- For the year ended December 31, 2008, cash cost per ounce of palladium produced,(1) net of by-product metal revenue and royalties, was US$283 compared to US$164 the previous year. The increase in cash cost per ounce is attributable to the reduction of by-product revenue due to lower commodity prices.

(1) Non-GAAP measure. Reference should be made to footnote 1 at the end of this press release.

Financial Results

Revenue after pricing adjustments for the three months ended December 31, 2008 was $11.3 million compared to $46.5 million in the same period last year, a reduction of $35.2 million (76%) due mainly to the October 29, 2008 temporary closure of the Lac des Iles mine. Revenue after pricing adjustments for the year ended December 31, 2008 was $125.5 million, a decrease of $70.4 million (36%) compared to $195.9 million last year. Pricing adjustments for the year ended December 31, 2008 reduced revenue by $22.9 million compared to a reduction of $5.4 million last year.

For the three months ended December 31, 2008, the Company reported a net loss of $112.4 million or $1.31 per share, compared to a net loss of $11.1 million or $0.19 per share in the same period last year. The results for the fourth quarter include a non-cash impairment charge of $90.0 million or $1.05 per share, to write down the Company's investment in mining interests due to prevailing market conditions. For the year ended December 31, 2008, the Company reported a net loss of $160.7 million or $1.94 per share compared to a net loss of $28.7 million or $0.51 per share for the year ended December 31, 2007.

Palladium production for the three months ended December 31, 2008 of 21,373 ounces was down 70% compared to 71,595 ounces in the same period last year due mainly to the temporary closure of the Lac des Iles mine on October 29, 2008. Palladium production for the year ended December 31, 2008 was 212,046 ounces, down 26% compared to 286,334 ounces in the previous year.

Palladium sales that were settled during the three months ended December 31, 2008, realized an average of US$207 per ounce, a decrease of 41% compared to US$348 per ounce in the same period last year. Palladium sales that were settled during the year ended December 31, 2008, realized an average of US$378 per ounce, an increase of 9% compared to US$346 per ounce in 2007. The spot price of palladium as at December 31, 2008 for the concentrate awaiting settlement mark-to-market was US$183, down 50% compared to the December 31, 2007 spot price of US$364.

For the quarter ended December 31, 2008, cash cost(1) per ounce of palladium, net of by-product metal revenues and royalties, increased to US$464 per ounce as compared to US$221 per ounce in the corresponding period in 2007 due primarily to decreased by-product revenues as a result of lower by-product commodity prices, offset by the weakening Canadian dollar. For the year ended December 31, 2008, cash cost(1) per ounce of palladium, net of by-product metal revenues and royalties, increased to US$283 per ounce as compared to US$164 per ounce in the previous year. The increase is attributable to the reduction of by-product revenue as a result of lower by-product commodity prices.

For the three months ended December 31, 2008, the loss from mining operations was $104.6 million, a decline of $103.6 million compared to last year's loss of $1.0 million. For the year ended December 31, 2008, the loss from mining operations was $127.8 million compared to income from mining operations of $0.5 million last year.

Cash used in operations for the quarter ended December 31, 2008 was $16.6 million compared to cash provided by operations of $10.5 million in the same period last year. The quarter ended December 31, 2008 includes cash severance and other costs in connection with the temporary mine closure of $6.3 million. For the year ended December 31, 2008, cash provided by operations was $6.9 million compared to $25.5 million last year.

The Company's total debt position (short and long-term) decreased to $7.6 million at December 31, 2008 compared to $39.1 million at December 31, 2007.

Net working capital as at December 31, 2008 was $86.1 million compared to $128.4 million as at December 31, 2007. In addition to cash and cash equivalents as at December 31, 2008 of $43.1 million, the Company had concentrate awaiting settlement of $43.1 million.

Outlook

The price of the Company's two main metals changed dramatically over a very short period of time. As recently as June 2008, palladium and platinum traded at US$475 per ounce and US$2,103 per ounce respectively. As of February 23, 2009, the spot price of palladium was US$204 per ounce and platinum was US$1,074 per ounce.

The temporary closing of the Lac des Iles mine will reduce expenses and maintain the Company's strong cash position. In addition to the cash on hand, management expects to realize significant cash flow over the next few months as payment is received for metal sales made prior to the closure.

Going forward, management intends to focus on strategic initiatives, including:

- Completing the $7.0 million drilling and exploration programs at Lac des Iles to further delineate and upgrade resources in the Offset Zone and to conduct grassroots exploration on the property adjacent to the mine;

- Completing a prefeasibility study on the Offset Zone. This project has the potential to extend the life of the Lac des Iles mine significantly;

- Developing a plan for the restart of the mine as a higher grade, lower tonnage, underground-only operation with a focus on streamlining processes and lowering operating costs, and

- Leveraging the Company's strong balance sheet to pursue potential acquisitions and joint venture opportunities that may emerge in these difficult and volatile markets.

The strategic direction of the Company is to build upon its significant palladium and platinum precious metal resources at Lac des Iles by acquiring gold resources and/or operations with the objective of building a mid-tier precious metals company with multiple revenue sources.

Offset Zone Development

The results of a preliminary economic assessment released in May 2008 estimated that the entire Offset Zone could be mined for up to ten years yielding annual production of 250,000 ounces of palladium, 16,000 ounces of platinum, 17,000 ounces of gold, 2 million pounds of nickel, and 4 million pounds of copper when operating at 6,000 tonnes per day (see May 7, 2008 press release).

In January 2009, the Company announced the result of a NI 43-101 resource estimate for the Offset Zone prepared by Scott Wilson RPA that upgraded the indicated resource from 3.2 million tonnes to 12.3 million tonnes, an increase of 280%. This upgrade reflects the positive results from a $1.7 million drill program conducted in 2007 (see January 20, 2009 press release).

A detailed prefeasibility report is underway with the objectives of converting indicated resources to probable reserves, and assessing the optimal mining and milling configuration and economics of developing the Offset Zone. The report is expected to be completed by the end of the second quarter 2009.

Conference Call and Webcast

The Company will host its year end conference call at 10:00 a.m. ET on Wednesday, February 25, 2009. The toll-free conference call dial-in number in North America is 1-888-789-0150 and the local and overseas dial-in number is 416-695-6622.

The conference call will be simultaneously webcast and archived at www.napalladium.com and at www.investorcalendar.com/IC/CEPage.asp?ID=140235. A replay of the conference call will be available until March 18, 2009 toll-free at 1-800-408-3053, locally and overseas at 416-695-5800, access code #3281999.

(1) Non-GAAP Measure

This press release refers to cash cost per ounce which is not a recognized measure under Canadian GAAP. This non-GAAP financial measure does not have any standardized meaning prescribed by Canadian GAAP and is therefore unlikely to be comparable to a similar measure presented by other issuers. Management uses this measure internally. The use of this measure enables management to better assess performance trends. Management understands that a number of investors and others who follow the Company's performance assess performance in this way. Management believes that this measure better reflects the Company's performance for the current period and is a better indication of its expected performance in future periods. This data is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with Canadian GAAP. The following table reconciles this non-GAAP measure to the most directly comparable Canadian GAAP measure:

Reconciliation of Cash Cost per Ounce to Financial Statements

                                        Three Months          Twelve Months
                                               Ended                  Ended
(thousands of dollars except per              Dec 31                 Dec 31
 ounce amounts)                     2008        2007        2008       2007
----------------------------------------------------------------------------
Production costs                 $22,358     $30,386    $115,037   $124,921
Less mine shutdown costs          (7,877)          -      (7,877)         -
Smelter treatment, refining
 and freight costs                 1,255       5,939      19,325     22,444
----------------------------------------------------------------------------
                                  15,736      36,325     126,485    147,365
Less by-product metal revenue     (3,818)    (22,701)    (69,203)  (104,126)
----------------------------------------------------------------------------
                                 $11,918     $13,624    $ 57,282   $ 43,239
----------------------------------------------------------------------------
Divided by ounces of palladium    20,996      62,446     189,968    251,531
Cash cost per ounce (CDN$)       $   568     $   218    $    302   $    172
Exchange rate (CDN$1 equals US$)   0.817       1.012       0.939      0.952
----------------------------------------------------------------------------
Cash cost per ounce (US$)        $   464     $   221    $    283   $    164
----------------------------------------------------------------------------
----------------------------------------------------------------------------
 
Further information about the fourth quarter results are available in the Company's financial statements and MD&A, which will be filed on its website, with Canadian provincial securities authorities (www.sedar.com) and with the U.S. Securities and Exchange Commission (www.sec.gov).

About North American Palladium

North American Palladium is a precious metals company that owns one of North America's largest palladium mines, historically producing approximately 4% of global palladium supply. The Company's palladium production at its Lac des Iles mine is strengthened by a significant contribution from platinum, gold, nickel and copper by-product metals. The Lac des Iles mine was placed on temporary care and maintenance in October 2008 due to low metal prices. The Company benefits from operating in a politically stable jurisdiction with developed infrastructure and a history of innovation and excellence in mining. Please visit www.napalladium.com for more information.

Cautionary Statement on Forward-Looking Information

Certain information included in this press release, including any information as to our future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. The words 'expect', 'believe', 'will', 'intend', 'estimate' and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These statements are based on certain factors and assumptions, including but not limited to, the assumption that market fundamentals will result in increased palladium demand and prices and sustained by-product metal demand and prices; the Company's mine remains viable operationally and economically; financing is available on reasonable terms; expectations for mill feed head grade and mill performance will proceed as expected; new mine plan scenarios will be viable operationally and economically; and plans for mill production, metal recoveries from the Lac des Iles mine, exploration at Lac des Iles and elsewhere will all proceed as expected.
The Company cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of North American Palladium to be materially different from the Company's estimated future results, performance or achievements expressed or implied by those forward-looking statements and that the forward-looking statements are not guarantees of future performance. These risks, uncertainties and other factors include, but are not limited to: metal price volatility; economic and political events affecting metal supply and demand; disruptions to credit and equity markets; changes in the regulatory environment; fluctuations in ore grade or ore tonnes milled; geological, technical, mining or processing problems; future production; changes in the life-of-mine plan; availability and increasing costs associated with mining inputs and labour; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of mineral reserves; adverse changes in our credit rating; and the risks involved in the exploration, development and mining business. These factors are discussed in greater detail in the Company's most recent Form 40-F/Annual Information Form on file with the U.S. Securities and Exchange Commission and Canadian provincial securities regulatory authorities. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise. Readers are cautioned not to put undue reliance on these forward-looking statements.

North American Palladium Ltd.
Consolidated Balance Sheets
(expressed in thousands of Canadian dollars)

                                                December 31     December 31
                                                       2008            2007
----------------------------------------------------------------------------
ASSETS
Current Assets
Cash and cash equivalents                          $ 43,068        $ 74,606
Concentrate awaiting settlement, net                 43,051          79,087
Taxes recoverable                                       638              62
Inventories                                          16,590          26,320
Other assets                                          3,193           2,563
----------------------------------------------------------------------------
                                                    106,540         182,638
Mining interests, net                                31,640         114,464
Mine restoration deposit                              8,724           8,272
----------------------------------------------------------------------------
                                                   $146,904        $305,374
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities
Accounts payable and accrued liabilities            $13,996         $20,757
Future mining tax liability                               -             168
Current portion of obligations under capital leases   1,992           1,672
Convertible notes payable                                 -          25,710
Current portion of long-term debt                     4,430           5,918
----------------------------------------------------------------------------
                                                     20,418          54,225
Mine restoration obligation                           8,455           8,878
Obligations under capital leases                      1,130           1,824
Long-term debt                                            -           3,957
Future mining tax liability                               -             539
----------------------------------------------------------------------------
                                                     30,003          69,423
Shareholders' Equity
Common share capital and purchase warrants          485,386         443,986
Stock options                                         2,305           1,673
Equity component of convertible notes
 payable, net of issue costs                              -           6,044
Contributed surplus                                  12,336           6,292
Deficit                                            (383,126)       (222,044)
----------------------------------------------------------------------------
Total shareholders' equity                          116,901         235,951
----------------------------------------------------------------------------
                                                   $146,904        $305,374
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Certain prior period amounts have been reclassified to conform to the
presentation adopted in 2008. These financial statements should be read in
conjunction with the notes and management's discussion and analysis,
available online at www.sedar.com and www.sec.gov and on the Company's
website at www.napalladium.com.


North American Palladium Ltd.
Consolidated Statements of Operations, Comprehensive Loss and Deficit
(expressed in thousands of Canadian dollars, except share and
 per share amounts)

                                 Three months ended              Year ended
                                        December 31             December 31
                                   2008        2007        2008        2007
----------------------------------------------------------------------------
Revenue - before pricing
 adjustments                     $9,642     $44,938    $148,428    $201,367
Pricing Adjustments:
 Commodities                     (7,189)      1,799     (38,633)      8,756
 Foreign exchange                 8,889        (231)     15,696     (14,191)
----------------------------------------------------------------------------
Revenue - after pricing
 adjustments                     11,342      46,506     125,491     195,932
----------------------------------------------------------------------------
Operating expenses
Production costs                 22,358      30,386     115,037     124,921
Inventory pricing adjustment     (1,599)        144       3,875         144
Smelter treatment, refining
 and freight costs                1,255       5,939      19,325      22,444
Amortization                      3,154      10,876      36,026      46,908
Asset impairment charge          90,000           -      90,000           -
Insurance recovery                    -           -     (13,800)          -
Loss on disposal of
 equipment                          893           -       2,466           -
Asset retirement costs             (142)        160         321       1,010
----------------------------------------------------------------------------
Total operating expenses        115,919      47,505     253,250     195,427
----------------------------------------------------------------------------
Income (loss) from mining
 operations                    (104,577)       (999)   (127,759)        505
----------------------------------------------------------------------------
Other expenses
General and administration        1,829       2,061       7,666       7,773
Exploration                       4,670       5,179      23,070      12,138
Interest and other
 financing costs                    463       3,162       3,443      18,633
Foreign exchange loss (gain)      1,438        (271)        971      (8,422)
----------------------------------------------------------------------------
Total other expenses              8,400      10,131      35,150      30,122
----------------------------------------------------------------------------
Loss before taxes              (112,977)    (11,130)   (162,909)    (29,617)
Income and mining
 tax recovery                      (558)        (42)     (2,230)       (937)
----------------------------------------------------------------------------
Net loss and comprehensive
 loss for the period           (112,419)    (11,088)   (160,679)    (28,680)
Deficit, beginning of
 period, as previously
 reported                      (270,707)   (210,956)   (222,044)   (193,364)
Adoption of new accounting
 standards for inventory              -           -        (403)          -
----------------------------------------------------------------------------
Deficit, end of period        $(383,126)  $(222,044)  $(383,126)  $(222,044)
----------------------------------------------------------------------------
Net loss per share
 Basic and diluted               $(1.31)     $(0.19)     $(1.94)     $(0.51)
----------------------------------------------------------------------------
Weighted average number of
 shares outstanding
 Basic and diluted           85,628,711  60,250,864  82,839,706  55,792,203
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Certain prior period amounts have been reclassified to conform to the
presentation adopted in 2008. These financial statements should be read in
conjunction with the notes and management's discussion and analysis,
available online at www.sedar.com and www.sec.gov and on the Company's
website at www.napalladium.com.


North American Palladium Ltd.
Consolidated Statements of Cash Flows
(expressed in thousands of Canadian dollars)

                                 Three months ended              Year ended
                                        December 31             December 31
                                   2008        2007        2008        2007
----------------------------------------------------------------------------
Cash provided by (used in)
Operations
Net loss for the period       $(112,419)   $(11,088)  $(160,679)   $(28,680)
Operating items not
 involving cash
 Accretion expense relating
  to convertible notes payable       87       2,291       3,372      12,947
  Amortization                    3,154      10,876      34,046      46,908
  Amortization of deferred
   financing costs                    9         135         193         751
  Asset impairment charge        90,000           -      90,000           -
  Interest on convertible
   notes settled in shares           50         636         732       2,644
  Accrued interest on mine
   restoration deposit               (6)       (121)       (135)       (231)
  Unrealized foreign exchange
   loss (gain)                   (7,241)      3,711     (13,635)     10,799
  Unrealized commodity price
   adjustment                     9,057      (1,324)     43,028      (3,964)
  Asset retirement costs           (142)        160         321       1,010
  Future income tax recovery          -         (42)     (2,121)       (937)
  Stock based compensation and
   employee benefits                568         320       1,945       1,637
  Loss on disposal of
   equipment                        893           -       2,466           -
----------------------------------------------------------------------------
                                (15,990)      5,554        (467)     42,884
Changes in non-cash working
 capital                           (573)      4,967       7,317     (17,408)
----------------------------------------------------------------------------
                                (16,563)     10,521       6,850      25,476
----------------------------------------------------------------------------
Financing Activities
Advances (settlements) under
 purchase facility                    -      (3,990)          -           -
Issuance of common shares
 and warrants, net of 
 issue costs                          -      69,615      10,475      75,318
Repayment of long-term debt      (1,716)     (1,478)     (6,291)    (12,016)
Repayment of obligations
 under capital leases              (544)       (417)     (1,866)     (1,979)
Mine restoration deposit              -           -        (317)          -
----------------------------------------------------------------------------
                                 (2,260)     63,730       2,001      61,323
----------------------------------------------------------------------------
Investing Activities
Additions to mining
 interests                       (4,544)     (3,799)    (40,691)    (15,346)
Proceeds on disposal of
 mining interests                     8           -         302           -
----------------------------------------------------------------------------
                                 (4,536)     (3,799)    (40,389)    (15,346)
----------------------------------------------------------------------------
Increase (decrease) in cash
 and cash equivalents           (23,359)     70,452     (31,538)     71,453
Cash and cash equivalents,
 beginning of period             66,427       4,154      74,606       3,153
----------------------------------------------------------------------------
Cash and cash equivalents,
 end of period                  $43,068     $74,606     $43,068     $74,606
----------------------------------------------------------------------------
Cash and cash equivalents
 consisting of:
Cash                             $2,532      $4,444      $2,532      $4,444
Short-term investments           40,536      70,162      40,536      70,162
----------------------------------------------------------------------------
                                $43,068     $74,606     $43,068     $74,606
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Certain prior period amounts have been reclassified to conform to the
presentation adopted in 2008. These financial statements should be read in
conjunction with the notes and management's discussion and analysis,
available online at www.sedar.com and www.sec.gov and on the Company's
website at www.napalladium.com.


Consolidated Statement of Shareholders' Equity
(expressed in thousands of Canadian dollars, except share amounts)

                              Number   Capital   Shares   Stock
                           of shares     stock issuable  options   Warrants
----------------------------------------------------------------------------
Balance, December 31,
2007                      75,770,570  $430,793       $-   $1,673    $13,193

Transitional adjustment
 on adoption of
 inventory standard                -         -        -        -          -
Common shares
 issued/issuable
 For principal
  repayments on
  convertible notes
  payable                  6,111,869    28,270    2,062        -          -
 For interest payments
  on convertible
  notes payable              165,185       714       18        -          -
 Tax effect of flow-
  through shares                   -    (1,452)       -        -          -
 Pursuant to unit
  offering, net of
  issue costs              2,800,000     9,575        -        -          -
Warrants Issued:
 Pursuant to unit
  offering, net of
  issue costs                                -        -        -        899
 Warrants exercised              100         1        -        -          -
Stock-based
 compensation expense        311,251     1,313        -      632          -
Net loss for the year
 ended December 31,
 2008                              -         -        -        -          -
----------------------------------------------------------------------------
Balance, December 31,
 2008                     85,158,975  $469,214   $2,080   $2,305    $14,092
----------------------------------------------------------------------------
----------------------------------------------------------------------------


                            Equity
                         component
                                of
                       convertible                                    Total
                             notes   Contributed               shareholders'
                           payable       surplus     Deficit         equity
----------------------------------------------------------------------------
Balance, December 31,
2007                        $6,044        $6,292   $(222,044)      $235,951

Transitional adjustment
 on adoption of
 inventory standard              -             -        (403)          (403)
Common shares
 issued/issuable
 For principal
  repayments on
  convertible notes
  payable                   (6,044)        6,044           -         30,332
 For interest payments
  on convertible
  notes payable                  -             -           -            732
 Tax effect of flow-
  through shares                 -             -           -         (1,452)
 Pursuant to unit
  offering, net of
  issue costs                    -             -           -          9,575
Warrants Issued:
 Pursuant to unit
  offering, net of
  issue costs                    -             -           -            899
 Warrants exercised              -             -           -              1
Stock-based
 compensation expense            -             -           -          1,945
Net loss for the year
 ended December 31,
 2008                            -             -    (160,679)      (160,679)
----------------------------------------------------------------------------
Balance, December 31,
 2008                           $-       $12,336   $(383,126)      $116,901
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Certain prior period amounts have been reclassified to conform to the
presentation adopted in 2008. These financial statements should be read in
conjunction with the notes and management's discussion and analysis,
available online at www.sedar.com and www.sec.gov and on the Company's
website at www.napalladium.com.
 

CONTACT INFORMATION:

North American Palladium Ltd.
Fraser Sinclair
Vice President, Finance & Chief Financial Officer
(416) 360-7971 Ext. 222 or 1-888-360-7590
Email: fsinclair@napalladium.com

or

North American Palladium Ltd.
Linda Armstrong
Director, Investor Relations
(416) 360-7971 Ext. 226 or 1-888-360-7590
Email: larmstrong@napalladium.com
Website: www.napalladium.com

INDUSTRY: Manufacturing and Production - Mining and Metals

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North American Palladium Ltd

PRODUCTEUR
CODE : PDL.TO
ISIN : CA6569121024
CUSIP : 656912102
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North American Palladium est une société de production minière de palladium basée au Canada.

North American Palladium est productrice de palladium, de cuivre, de nickel, d'or et de platine au Canada, en développement de projets de cuivre, d'or, de palladium et de platine en Finlande, et détient divers projets d'exploration au Canada.

Ses principaux projets en production sont LAC DES ILES et SLEEPING GIANT PROPERTY au Canada, son principal projet en développement est ARCTIC (SUHANKO) en Finlande et ses principaux projets en exploration sont TIB LAKE, SHEBANDOWAN - BAND-ORE, DISCOVERY PROJECT et ROARING RIVER au Canada.

North American Palladium est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 1,1 milliards CA$ (871,6 millions US$, 781,9 millions €).

La valeur de son action a atteint son plus haut niveau récent le 01 juin 2012 à 996,00 CA$, et son plus bas niveau récent le 26 décembre 2014 à 0,16 CA$.

North American Palladium possède 58 130 000 actions en circulation.

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30/04/2012NAP - North American Palladium Completes C$35 Million Flow-T...
18/02/2011Completes C$22 Million Flow-Through Financing
28/01/2011Announces C$22 Million Financing of Flow-Through Shares
22/09/2009Announces C$35 Million Cross-Border Bought Deal Financing of...
22/09/2009Announces C$15 Million Bought Deal Financing of Flow-Through...
Nominations de North American Palladium Ltd
04/09/2013NAP - North American Palladium Appoints Chief Operating Offi...
21/03/2013NAP - North American Palladium Appoints Chief Executive Offi...
22/01/2013NAP - North American Palladium Appoints Chief Financial Offi...
14/09/2012NAP - North American Palladium Announces Appointment of Inte...
13/03/2008Appoints Vice President Exploration
Rapports Financiers de North American Palladium Ltd
14/11/2013NAP - North American Palladium Announces Third Quarter 2013 ...
07/11/2012Announces Third Quarter 2012 Results
08/08/2012NAP - North American Palladium Announces Second Quarter 2012...
10/05/2012NAP - North American Palladium Announces First Quarter 2012 ...
11/08/2011Announces Second Quarter 2011 Results
10/05/2011NAP - North American Palladium Announces First Quarter 2011 ...
24/02/2011Fourth Quarter 2010 Results
13/08/2010Announces Second Quarter 2010 Results
11/05/2010Announces First Quarter 2010 Results
13/11/2009NAP Announces Third Quarter Results
25/02/2009Announces Fourth Quarter and Year Ended December 31, 2008 Re...
11/11/2008Reports Third Quarter 2008 Financial Results and Strong Liqu...
07/08/2008Announces Second Quarter 2008 Financial Results; Revenue Inc...
13/05/2008Announces First Quarter 2008 Financial Results; Net Income $...
19/03/2008 Announces Fourth Quarter and Year-End 2007 Financial Result...
07/03/2008Fourth Quarter and Year End 2007 Financial Results Conferenc...
06/11/2007Reports Third Quarter 2007 Financial Results
Projets de North American Palladium Ltd
23/12/2013(Lac Des Iles)NAP - North American Palladium Provides Update on Exploratio...
05/09/2013(Lac Des Iles)NAP - North American Palladium Provides Update on Exploratio...
19/02/2013Files Prefeasibility Study on LDI's Initial Offset Zone Rese...
31/01/2013(Lac Des Iles)NAP - North American Palladium Reports Excellent Exploration...
11/12/2012NAP - North American Palladium Provides Update on Exploratio...
08/08/2012NAP - North American Palladium Updates Palladium Mineral Res...
16/07/2012NAP - North American Palladium Provides Palladium Exploratio...
02/05/2012NAP - North American Palladium Receives Two Prestigious Awar...
30/01/2012(Lac Des Iles)Intersects High Grades Underground at LDI Mine and Reef-Styl...
05/10/2011(Lac Des Iles)NAP - North American Palladium Provides Update on Mine Expan...
14/09/2011(Lac Des Iles)NAP - North American Palladium Provides Palladium Exploratio...
12/07/2011(Sleeping Giant Property)NAP - North American Palladium Provides Gold Exploration Upd...
11/07/2011(Lac Des Iles)to Host Palladium Exploration Seminar and Live Webcast on Ju...
28/06/2011(Lac Des Iles)NAP - North American Palladium Provides Pall
20/01/2011(Lac Des Iles)Announces 2011 Guidance on Production, Capital Expenditures...
07/06/2010(Lac Des Iles)Provides LDI Exploration Update
27/05/2010(Lac Des Iles)Updates Resource Estimate for Offset Zone
06/04/2010(Sleeping Giant Property)Updates Reserves and Resources for Gold Division
18/09/2009(Lac Des Iles)Renewed Commitment to Exploration Delivers Results
26/06/2009(Lac Des Iles)Discovers New PGM Zone at Lac des Iles Mine
20/01/2009(Lac Des Iles)Increases Indicated Resource by 80 a Offset Zone, Plans Ag
17/07/2008Announces Second Quarter Production Results
29/04/2008Releases Infill Drilling Results for Offset High Grade Zone
23/04/2008Announces First Quarter 2008 Production Results
10/12/2007(Lac Des Iles)North American Palladium Earns 50% Interest in the Shebandow...
31/10/2007 Announces Scoping Study Results on Arctic Platinum Project ...
25/10/2007(Shebandowan - Band-ore)Files Initial NI 43-101 Compliant Mineral Resource Estimate ...
18/10/2007Reports Continued Improvement in Production Results for the ...
03/10/2007(Lac Des Iles)Reports Drilling Results at the Lac des Iles Mine
18/07/2007Report Second Quarter 2007 Production Results
Communiqués de Presse en Français de North American Palladium Ltd
17/01/2012NAP - North American Palladium annonce ses objectifs de prod...
Communiqués de Presse de North American Palladium Ltd
06/05/2016North American Palladium Reports Voting Results From 2016 An...
05/05/2016North American Palladium posts 1Q loss
05/05/2016North American Palladium Announces First Quarter 2016 Result...
08/04/2016North American Palladium Adopts Stock Option Plan
18/01/2016North American Palladium Announces Appointment of New Interi...
21/12/2015North American Palladium Announces Extension of Credit Facil...
30/09/2015North American Palladium cuts output forecast, jobs
30/09/2015North American Palladium Announces Workforce Reduction and R...
18/08/2015IIROC Trade Resumption - PDL.RT
18/08/2015IIROC Trading Halt - DIV.R; PDL.RT
12/08/2015North American Palladium Announces Management Changes
12/08/2015IIROC Trade Resumption - PDL
12/08/2015IIROC Trading Halt - PDL
06/08/2015North American Palladium Announces Completion of Recapitaliz...
29/07/2015North American Palladium posts 2Q loss
29/07/2015North American Palladium Announces Second Quarter 2015 Resul...
23/07/2015North American Palladium Announces Favourable Recommendation...
13/07/2015North American Palladium to Host Second Quarter 2015 Results...
19/06/2015North American Palladium to Proceed With Recapitalization Tr...
16/04/2015IIROC Trade Resumption - PDL
16/04/2015IIROC Trading Halt - PDL
15/04/2015North American Palladium Announces Recapitalization Transact...
12/04/2015Magnetar Increases Its Position in TransCanada
02/04/2015North American Palladium Announces Filing of Preliminary Eco...
26/03/2015North American Palladium to Attend Upcoming Investor Confere...
26/03/2015to Attend Upcoming Investor Conferences
12/01/2015Files Base Shelf Prospectus
20/02/2014NAP - North American Palladium Announces Year End 2013 Resul...
10/02/2014NAP - North American Palladium Completes Additional Issuance...
28/01/2014NAP - North American Palladium Provides Update on Proposed F...
13/01/2014NAP - North American Palladium Announces Proposed Financing
06/01/2014NAP - North American Palladium Announces 2014 Operating Guid...
02/12/2013NAP - North American Palladium Announces an Additional US$21...
21/11/2013NAP - North American Palladium Comments on Trading Activity
04/11/2013to Host Third Quarter 2013 Results Conference Call & Webcast...
04/11/2013to Host Third Quarter 2013 Results Conference Call & Webcast...
21/10/2013(Lac Des Iles)NAP - North American Palladium Commences Shaft Hoisting at L...
23/09/2013NAP - North American Palladium to Host Investor Day on Octob...
19/09/2013to Present at the 2013 Denver Gold Forum
08/08/2013NAP - North American Palladium Announces Second Quarter 2013...
07/06/2013Announces US$130 Million Debt Financing from Brookfield, $20...
10/05/2013NAP - North American Palladium Reports Voting Results from 2...
06/05/2013NAP - North American Palladium Announces First Quarter 2013 ...
30/04/2013NAP - North American Palladium Announces Favourable Recommen...
29/04/2013to Host First Quarter 2013 Results Conference Call & Webcast...
23/03/2013NAP - North American Palladium Announces the Sale of Its Gol...
15/03/2013NAP - North American Palladium Announces Adoption of Advance...
22/02/2013NAP - North American Palladium Announces Year End 2012 Resul...
19/02/2013NAP - North American Palladium Files Prefeasibility Study on...
13/02/2013NAP - North American Palladium Files Base Shelf Prospectus
06/02/2013to Host Year End 2012 Results Conference Call and Webcast on...
26/10/2012to Host Third Quarter 2012 Results Conference Call and Webca...
15/10/2012Announces Preliminary Third Quarter 2012 Production Results ...
31/07/2012NAP - North American Palladium Completes C$43 Million Offeri...
10/07/2012NAP - North American Palladium Announces C$43 Million Offeri...
09/07/2012NAP - North American Palladium Announces Preliminary Second ...
17/05/2012Corporate Video
10/05/2012AGM Invitation
12/04/2012NAP - North American Palladium Announces C$35 Million Financ...
10/04/2012NAP - North American Palladium Announces Preliminary First Q...
24/02/2012NAP - North American Palladium Appoints Head of Exploration
24/02/2012NAP - North American Palladium Announces Year End 2011 Resul...
09/02/2012to Host Fourth Quarter 2011 Results Conference Call and Webc...
17/01/2012NAP - North American Palladium Announces 2012 Guidance on Pr...
17/01/2012Announces 2012 Guidance on Production, Capital Expenditures ...
26/07/2011to Host Second Quarter 2011 Results Conference Call and Webc...
12/07/2011NAP - North American Palladium to Host Palladium Exploration...
13/06/2011s Palladium Mineral Resources
27/04/2011s Gold Mineral Reserves and Resources at Vezza Project a
26/04/2011to Host First Quarter 2011 Results Conference Call and Webca...
23/03/2011Adopts Shareholder Rights Plan
15/03/2011Added to S&P/TSX Composite Index
23/07/2010to Host Second Quar
26/04/2010Announces Exercise of Over-Allotment Option
20/04/2010to Acquire Vezza Gold Project From Agnico-Eagle
14/04/2010Restarts Palladium Production
15/03/2010Added to S&P/TSX Global Mining Index
25/01/2010Exploration Program Delivers Excellent Results at Offset and...
12/11/2009continues to achieve excellent drill results, expands size o...
07/10/2009 Pours First Gold at Sleeping Giant and Eliminates Royalty
10/09/2009to Webcast From Denver Gold Forum
02/09/2009Withdraws $50 Million Financing
27/08/2009Signs Option Agreement With Midland Exploration for Laflamme...
13/07/2009Announces New CFO
15/09/2008Announces New CEO
07/07/2008Settles Crusher Litigation Collects Additional $14=2E5 Milli...
07/05/2008Preliminary Economic Assessment Confirms Long Term Potential...
23/04/2008Added to S&P/TSX Global Mining Index
17/01/2008 Increases Annual Production by 21%
09/01/2008Closes Over-Allotment of Units
04/01/2008 Announces Increase in Over-Allotment Exercise
04/01/2008Announces Exercise of Over-Allotment Option
14/12/2007 Announces Closing of US$75 Million Offering
12/12/2007 Announces Increase in Unit Offering
11/12/2007 Prices Marketed Unit Offering
27/11/2007Announces Marketed Unit Offering
22/10/2007Reports Final Drill Results at Ahmavaara Deposit
11/10/2007Expands Exploration Activities
24/09/2007Arctic Platinum Project Infill Drilling Confirms Good Contin...
12/07/2007Infill Drilling at NAP's Ahmavaara Deposit at Suhanko Finlan...
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TORONTO (PDL.TO)AMEX (PAL)
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