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North American Palladium Ltd

Publié le 07 août 2008

Announces Second Quarter 2008 Financial Results; Revenue Increases

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Mots clés associés :   Copper | Dollar | Euro | Nickel | Palladium |

Marketwire

 
 
North American Palladium Ltd.
TSX: PDL
TSX: PDL.WT
AMEX: PAL
AMEX: PAL.WS
Other Recent News

August 7, 2008
North American Palladium Announces Second Quarter 2008 Financial Results; Revenue Increases 17%
TORONTO, ONTARIO--(Marketwire - Aug. 7, 2008) - North American Palladium Ltd. (TSX:PDL)(TSX:PDL.WT)(AMEX:PAL)(AMEX:PAL.WS) -

This news release contains forward-looking statements. Reference should be made to the cautionary statement on forward-looking information at the end of this news release.

Highlights

- Revenue for the quarter ended June 30, 2008 of $52.2 million increased by $7.7 million or 17% compared to the same period last year. Revenue for the six months ending June 30, 2008 was $123.0 million compared to revenue of $112.9 million in 2007, an increase of 9.0%.

- Income from mining operations for the second quarter of 2008, before an insurance recovery of $13.8 million, was $4.1 million compared to a loss of $6.1 million in the same period last year. For the first six months of 2008, before an insurance recovery of $13.8 million, income from mining operations was $29.0 million, an increase of $17.3 million (147%) compared to the same period last year.

- Net income for the second quarter of 2008 was $10.4 million or $0.13 per share compared to a net loss of $9.1 million or $0.17 per share in the second quarter last year. Net income for the first six months of 2008 was $23.0 million or $0.28 per share compared to a net loss of $3.6 million or $0.07 per share in the same period last year.

- Palladium production for the three months ended June 30, 2008 was 65,791 ounces, approximately on par with the 66,651 ounces produced in the same period last year.

- Cash cost per ounce of palladium produced(1), net of by-product metal revenues and royalties, was US$219 for the second quarter of 2008 compared to US$242 for the same period last year.

- Palladium sales for the second quarter were recorded at US$467 per ounce compared to US$365 per ounce in the same period last year.

- Operating cash flow for the three months ended June 30, 2008 (before changes in non-cash working capital)(1) of $17.0 million increased by $4.1 million (32%) compared to the same period last year.

- The Company's total debt position at June 30, 2008 was reduced to $18.8 million compared to the debt position at December 31, 2007 of $39.1 million.

- The Company has determined that it will not deliver a positive feasibility study for the Arctic Platinum Project prior to the August 31, 2008 deadline and it has commenced discussions with Gold Fields Ltd. to review strategic options for the project.

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

TORONTO, August 7 - North American Palladium Ltd. announced today financial results for the three and six month periods ended June 30, 2008.

The second quarter of 2008 generated income from mining operations, before an insurance recovery of $13.8 million, of $4.1 million compared to a loss of $6.1 million in the same period a year ago. The improvement is due to increased revenue of $7.7 million and lower operating expenses, excluding the insurance recovery, of $2.4 million. Income from mining operations for the six months ended June 30, 2008, before an insurance recovery of $13.8 million, was $29.0 million, an improvement of $17.3 million (147%) compared to the same period last year.

Net income for the second quarter of 2008 was $10.4 million or $0.13 per share compared to a net loss of $9.1 million or $0.17 per share for the corresponding period in 2007. For the six months ending June 30, 2008, net income was $23.0 million or $0.28 per share compared to a net loss of $3.6 million or $0.07 per share in the same period last year.

Revenue of $52.2 million, after pricing adjustments, for the second quarter of 2008 increased by $7.7 million or 17% reflecting higher commodity prices and a lower negative foreign exchange rate impact. Revenue for the six months ending June 30, 2008 was $123.0 million compared to revenue of $112.9 million in 2007, an increase of 9.0%.

Palladium sales in the second quarter of 2008 were recorded at a price of US$467 per ounce versus a price of US$365 per ounce in the same period in 2007, an increase of 28%. As previously reported, palladium production for the second quarter of 2008 of 65,791 ounces was approximately on par with the second quarter of 2007.

For the quarter ended June 30, 2008, cash cost per ounce(1) of palladium, net of by-product metal revenues, of US$219 per ounce was lower than the US$242 per ounce in the same period last year.

Operating cash flow for the second quarter of 2008 (before changes in non-cash working capital)(1) improved by $4.1 million to $17.0 million (32%) compared to the same period last year.

Outlook

The Company has received a draft of the feasibility study for the Arctic Platinum Project ("APP"). The price of steel and diesel fuel, the strength of the euro relative to the U.S. dollar and other variables have adversely impacted the estimated capital cost of the project. The Company has determined that it will not deliver a positive feasibility study for the APP prior to the August 31, 2008 deadline and it has commenced discussions with Gold Fields Ltd. to review strategic options for the project.

The Company continues to focus on the further definition of the Offset High Grade Zone at the Lac des Iles mine which could allow the underground mine to continue operating until 2018, according to the results of a preliminary economic assessment prepared by Micon International Limited and announced by the Company on May 7, 2008. In the near term, the Company expects to receive the remaining information required to finalize mine design.

The Company has received a draft preliminary economic assessment on the Shebandowan West Project. It is currently reviewing the recommendations and conclusions and is awaiting a final preliminary economic assessment. In early June, the Company started an advanced underground exploration project at the proposed site, the purpose of which is to investigate ground conditions and provide ore for a bulk metallurgical sample program.

Further information about the 2008 second quarter results is 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).

Conference Call and Webcast

The Company will host its second quarter 2008 financial results Conference Call and Webcast at 10:00 a.m. ET on Friday, August 8th 2008. The toll-free conference call dial-in number 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 in the Investor Centre under Conference Calls. The webcast will also be available at www.investorcalendar.com/IC/CEPage.asp?ID equals 131901. A replay of the conference call will be available until August 29th, 2008: toll-free at 1-800-408-3053; locally and overseas at 416-695-5800, access code #3266159.

(1) Non-GAAP Measures.

This press release refers to cash cost per ounce and operating cash flow which are not recognized measures under Canadian GAAP. Such non-GAAP financial measures do not have any standardized meaning prescribed by Canadian GAAP and are therefore unlikely to be comparable to similar measures presented by other issuers. Management uses these measures internally. The use of these measures 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 these measures better reflect the Company's performance and are 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 tables reconcile these non-GAAP measures to the most directly comparable Canadian GAAP measure:

(a) Reconciliation of Cash Cost per Ounce to Financial Statements

(thousands of dollars except per ounce amounts)

                                  Three Months Ended      Six Months Ended
                                             June 30               June 30
                                     2008       2007       2008       2007
---------------------------------------------------------------------------
Production costs including
 overhead                         $30,729  $  32,438  $  61,185  $  65,690
Smelter treatment, refining
 and freight costs                  6,132      5,733     11,542     10,995
---------------------------------------------------------------------------
                                   36,861     38,171     72,727     76,685
Less by-product metal revenue     (23,853)   (22,638)   (58,850)   (59,971)
---------------------------------------------------------------------------
                                  $13,008  $  15,533  $  13,877  $  16,714
---------------------------------------------------------------------------
Divided by ounces of palladium     58,450     60,435    112,651    131,069
Cash cost per ounce (C$)             $223       $257       $123       $128
C$ exchange rate                    1.018     1.0631      1.023      1.108
---------------------------------------------------------------------------
Cash cost per ounce (US$)            $219       $242       $120       $115
---------------------------------------------------------------------------
---------------------------------------------------------------------------

(b) Reconciliation of Cash Flow from Operations, Prior to Changes in
Non-Cash Working Capital (Operating Cash Flow) to Financial Statements(i)


                                   Three Months Ended     Six Months Ended
                                              June 30              June 30
                                      2008       2007      2008       2007
---------------------------------------------------------------------------
Operating cash flow                $16,987  $  12,865   $42,093  $  35,902
Changes in non-cash working
 capital                           (11,157)    (9,486)  (26,163)   (30,390)
---------------------------------------------------------------------------
Cash provided by operating
 activities                         $5,830     $3,379   $15,930     $5,512
---------------------------------------------------------------------------
---------------------------------------------------------------------------

(i)Certain prior period amounts have been reclassified to conform to the
classification adopted in the current period.
 
About North American Palladium

North American Palladium is one of North America's largest producers of palladium. The Company's core palladium business at the Lac des Iles mine is strengthened by a significant contribution from platinum, nickel, gold and copper by-product metals. The Company is actively progressing two advanced exploration projects, the Offset High Grade Zone at its Lac des Iles mine and the Shebandowan West Project, located approximately 100 kilometers from the mine. Please visit www.napalladium.com for more information.

Forward-Looking Statements

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 integrated operation of the Company's underground mine and the open pit mine remain viable operationally and economically; financing is available on reasonable terms; expectations for blended 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, sustainable 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; 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 or the ultimate pit design; 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)

                                                    June 30    December 31
                                                       2008           2007
---------------------------------------------------------------------------
                                                 (unaudited)
ASSETS
Current Assets
 Cash and cash equivalents                          $72,548        $74,606
 Concentrate awaiting settlement, net                98,257         79,087
 Taxes recoverable                                    1,279             62
 Inventories                                         12,780         17,873
 Crushed and broken ore stockpiles                    9,834          8,072
 Other assets                                        17,460          2,563
---------------------------------------------------------------------------
                                                    212,158        182,263
Mining interests, net                               120,038        114,464
Mine restoration deposit                              8,622          8,272
Crushed and broken ore stockpiles                       389            375
---------------------------------------------------------------------------
                                                   $341,207       $305,374
---------------------------------------------------------------------------
---------------------------------------------------------------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities
 Accounts payable and accrued liabilities           $21,104        $20,757
 Future mining tax liability                            229            168
 Current portion of obligations under capital
  leases                                              1,677          1,672
 Current portion of convertible notes payable         9,017         25,710
 Current portion of long-term debt                    6,036          5,918
---------------------------------------------------------------------------
                                                     38,063         54,225
Mine restoration obligation                           9,055          8,878
Obligations under capital leases                      1,056          1,824
Long-term debt                                        1,000          3,957
Future mining tax liability                           2,696            539
---------------------------------------------------------------------------
                                                     51,870         69,423
Shareholders' Equity
 Common share capital and purchase warrants         474,616        443,986
 Stock options                                        1,850          1,673
 Equity component of convertible notes payable,
  net of issue costs                                  1,942          6,044
 Contributed surplus                                 10,394          6,292
 Deficit                                           (199,465)      (222,044)
---------------------------------------------------------------------------
Total shareholders' equity                          289,337        235,951
---------------------------------------------------------------------------
                                                   $341,207       $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 are on the Company's
website at www.napalladium.com.


Consolidated Statements of Operations,
Comprehensive Income and Deficit
(expressed in thousands of Canadian dollars, except share
 and per share amounts) (unaudited)

                               Three months ended         Six months ended
                                          June 30                  June 30
                                 2008        2007        2008         2007
---------------------------------------------------------------------------
Revenue - before
 pricing adjustments          $52,403     $53,451    $103,455     $113,755
Pricing adjustments:
  Commodities                     581      (2,421)     15,759        6,720
  Foreign exchange               (743)     (6,535)      3,815       (7,541)
---------------------------------------------------------------------------
Revenue - after
 pricing adjustments           52,241      44,495     123,029      112,934
---------------------------------------------------------------------------
Operating expenses
  Production costs,
   excluding amortization
   and asset retirement
   costs                       30,729      32,438      61,185       65,690
  Smelter treatment,
   refining and freight
   costs                        6,132       5,733      11,542       10,995
  Amortization                 10,752      11,923      19,914       23,831
  Insurance recovery          (13,800)          -     (13,800)           -
  Loss on disposal of
   equipment                      363           -       1,058            -
  Asset retirement costs          157         498         308          677
---------------------------------------------------------------------------
  Total operating expenses     34,333      50,592      80,207      101,193
---------------------------------------------------------------------------
Income (loss) from mining
 operations                    17,908      (6,097)     42,822       11,741
---------------------------------------------------------------------------
Other expenses
  General and administration    1,649       2,321       2,006        4,017
  Exploration                   7,115         798      14,169        4,026
  Interest and other
   financing costs              1,275       4,660       2,904       11,143
  Foreign exchange gain        (1,137)     (4,355)       (223)      (4,981)
---------------------------------------------------------------------------
Total other expenses            8,902       3,424      18,856       14,205
---------------------------------------------------------------------------
Income (loss) before taxes      9,006      (9,521)     23,966       (2,464)
Income and mining tax
 expense (recovery)            (1,381)       (455)        984        1,095
---------------------------------------------------------------------------
Net income (loss) and
 comprehensive income
 (loss) for the period         10,387      (9,066)     22,982       (3,559)
Deficit, beginning of
 period, as previously
 reported                    (209,852)   (187,857)   (222,044)    (193,364)
Adoption of new
 accounting standards
 for inventory                      -           -        (403)           -
---------------------------------------------------------------------------
Deficit, end of period     $ (199,465) $ (196,923) $ (199,465)  $ (196,923)
---------------------------------------------------------------------------
Net income (loss) 
 per share
  Basic                         $0.13      $(0.17)      $0.28       $(0.07)
---------------------------------------------------------------------------
  Diluted                       $0.13      $(0.17)      $0.28       $(0.07)
---------------------------------------------------------------------------
Weighted average number of
 shares outstanding
  Basic                    82,100,127  54,410,210  80,927,966   53,749,822
---------------------------------------------------------------------------
Weighted average number of
 shares outstanding
  Diluted                  82,992,583  54,410,210  83,067,864   53,749,822
---------------------------------------------------------------------------
---------------------------------------------------------------------------

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 are on the Company's
website at www.napalladium.com.


Consolidated Statements of Cash Flows
(expressed in thousands of Canadian dollars)
(unaudited)

                               Three months ended         Six months ended
                                          June 30                  June 30
                                 2008        2007        2008         2007
---------------------------------------------------------------------------
Cash provided by (used in)
Operations
Net income (loss) for the
 period                      $ 10,387    $ (9,066)   $ 22,982     $ (3,559)
Operating items not
 involving cash
  Accretion expense
   relating to convertible
   notes payable                1,054       3,250       2,885        7,512
  Amortization                 10,544      11,923      20,633       23,831
  Amortization of deferred
   financing costs                 59         219         163          441
  Interest on convertible
   notes settled in shares        341       1,007         597        1,581
  Accrued interest on mine
   restoration deposit            (11)       (110)        (84)        (110)
  Unrealized foreign exchange
   loss (gain)                 (4,920)      3,478      (8,080)       3,409
  Asset retirement costs          157         498         308          677
  Future income tax expense
   (recovery)                  (1,561)      1,050         804        1,095
  Stock based compensation
   and employee benefits          574         616         827        1,025
  Loss on disposal of
   equipment                      363           -       1,058            -
---------------------------------------------------------------------------
                               16,987      12,865      42,093       35,902
Changes in non-cash
 working capital              (11,157)     (9,486)    (26,163)     (30,390)
---------------------------------------------------------------------------
                                5,830       3,379      15,930        5,512
---------------------------------------------------------------------------
Financing Activities
  Advances under purchase
   facility                         -       4,453           -        8,868
  Issuance of common shares
   and warrants, net of 
   issue costs                    (29)          -      10,475        5,703
  Repayment of long-term debt  (1,518)     (1,562)     (3,036)      (9,042)
  Repayment of obligations
   under capital leases          (431)       (539)       (853)      (1,082)
  Mine restoration deposit          -           -        (266)           -
---------------------------------------------------------------------------
                               (1,978)      2,352       6,320        4,447
---------------------------------------------------------------------------
Investing Activities
Additions to mining
 interests                    (13,496)     (4,148)    (24,525)      (8,607)
Proceeds on disposal of
 mining interests                 217           -         217            -
---------------------------------------------------------------------------
                              (13,279)     (4,148)    (24,308)      (8,607)
---------------------------------------------------------------------------
Increase (decrease) in cash
 and cash equivalents          (9,427)      1,583      (2,058)       1,352
Cash and cash equivalents,
 beginning of period           81,975       2,922      74,606        3,153
---------------------------------------------------------------------------
Cash and cash equivalents,
 end of period              $  72,548      $4,505   $  72,548        4,505
---------------------------------------------------------------------------
Cash and cash equivalents
 consists of:
  Cash                         $2,467      $4,505      $2,467       $4,505
  Short term investments       70,081           -      70,081            -
---------------------------------------------------------------------------
                            $  72,548      $4,505   $  72,548       $4,505
---------------------------------------------------------------------------
---------------------------------------------------------------------------

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 are on the Company's
website at www.napalladium.com.


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

                                 Number of    Capital      Stock
                                    shares      stock    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:
 For principal repayments on
  convertible notes payable      4,006,114     20,359          -         -
 For interest payments on
  convertible notes payable        129,643        597          -         -
 Pursuant to unit offering, net
  of issue costs                 2,800,000      9,575          -         -
 Tax effect of flow-through
  shares                                 -     (1,452)         -         -
Warrants Issued:
 Pursuant to unit offering, net
  of issue costs                         -          -          -       899
 Warrants exercised                    100          1          -         -
Stock-based compensation/RRSP
 expense                           130,831        651        177         -
Net income and comprehensive
 income for the six months
 ended June 30, 2008                     -          -          -         -
---------------------------------------------------------------------------
Balance, June 30, 2008          82,837,258 $  460,524  $   1,850 $  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:
 For principal repayments
  on convertible notes
  payable                     (4,102)       4,102          -        20,359
 For interest payments
  on convertible notes
  payable                          -            -          -           597
 Pursuant to unit offering,
  net  of issue costs              -            -          -         9,575
 Tax effect of
  flow-through shares              -            -          -        (1,452)
Warrants Issued:
 Pursuant to unit
  offering, net
  of issue costs                   -            -          -           899
 Warrants exercised                -            -          -             1
Stock-based
 compensation/RRSP
 expense                           -            -          -           828
Net income and
 comprehensive
 income for the six
 months ended June 30, 2008        -            -     22,982        22,982
---------------------------------------------------------------------------
Balance, June 30, 2008        $1,942      $10,394 $ (199,465)     $289,337
---------------------------------------------------------------------------
---------------------------------------------------------------------------

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 are on the Company's
website at www.napalladium.com.


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

                                 Number of    Capital      Stock
                                    shares      stock    options  Warrants
---------------------------------------------------------------------------
Balance, January 1, 2007        52,947,693 $  331,705  $   1,269    $8,038
Common shares issued:
 For principal repayments on
  convertible notes payable        983,376      9,976          -         -
 For interest payments on
  convertible notes payable        183,397      1,581          -         -
 Private placement of flow-
  through shares (net)             550,000      5,686          -         -
Stock options exercised              5,000         17          -         -
Fair value of stock options
 exercised                               -         10        (10)        -
Stock-based compensation/RRSP
 expense                            70,867        610        259         -
Net loss and comprehensive loss
 for the six months ended
 June 30, 2007                           -          -          -         -
---------------------------------------------------------------------------
Balance, June 30, 2007          54,740,333    349,585      1,518     8,038
Common shares issued:
 For principal repayments on
  convertible notes payable      2,137,621     16,204          -         -
 For interest payments on
  convertible notes payable        158,131      1,063          -         -
 Tax effect of flow-through
  shares                                 -     (1,114)         -         -
 Pursuant to unit offering,
  net of issue costs            18,666,667     64,461          -         -
Warrants issued:
 Pursuant to unit offering, net
  of issue costs                         -          -          -     5,155
Stock-based compensation/RRSP
 expense                            67,818        594        155         -
Net loss and comprehensive loss
 for the six months ended
 December 31, 2007                       -          -          -         -
---------------------------------------------------------------------------
Balance, December 31, 2007      75,770,570  $ 430,793   $  1,673  $ 13,193
---------------------------------------------------------------------------
---------------------------------------------------------------------------

                             Equity
                       component of                                  Total
                        convertible  Contributed             shareholders'
                      notes payable      surplus    Deficit         equity
---------------------------------------------------------------------------
Balance, January 1, 2007    $12,336       $    - $ (193,364)      $159,984
Common shares issued:
 For principal
  repayments on
  convertible notes
  payable                    (2,199)       2,199          -          9,976
 For interest payments
  on convertible notes
  payable                         -            -          -          1,581
 Private placement of
  flow through shares (net)       -            -          -          5,686
Stock options exercised           -            -          -             17
Fair value of stock
 options exercised                -            -          -              -
Stock-based
 compensation/RRSP
 expense                          -            -          -            869
Net loss and
 comprehensive loss
 for the six months
 ended June 30, 2007              -            -     (3,559)        (3,559)
---------------------------------------------------------------------------
Balance, June 30, 2007       10,137        2,199   (196,923)       174,554
Common shares issued:
 For principal
  repayments on convertible
  notes payable              (4,093)       4,093          -         16,204
 For interest
  payments on convertible
  notes payable                   -            -          -          1,063
 Tax effect of 
  flow-through shares             -            -          -         (1,114)
 Pursuant to unit 
  offering, net
  of issue costs                  -            -          -         64,461
Warrants issued:
 Pursuant to unit
  offering, net
  of issue costs                  -            -          -          5,155
Stock-based
 compensation/RRSP
 expense                          -            -          -            749
Net loss and
 comprehensive loss
 for the six months
 ended December 31, 2007         -            -    (25,121)       (25,121)
---------------------------------------------------------------------------
Balance, December 31, 2007 $ 6,044      $ 6,292 $ (222,044)     $ 235,951
---------------------------------------------------------------------------
---------------------------------------------------------------------------

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 are on the Company's
website at www.napalladium.com.
 

CONTACT INFORMATION:

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

or

North American Palladium Ltd.
Linda Armstrong
Director, Investor Relations
(416) 360-7971 Ext. 226
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
Suivi et investissement
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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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Dans les médias de North American Palladium Ltd
02/09/2011Aware of Potential Lawsuit
Rapports annuels de North American Palladium Ltd
2011 Annual Report - Digital Edition
2008 Annual report
Financements de North American Palladium Ltd
31/01/2014NAP - North American Palladium Completes First Tranche of Co...
30/01/2014NAP - North American Palladium Provides Pricing Update on Pr...
23/07/2013NAP - North American Palladium Announces Closing of Second $...
19/06/2013NAP - North American Palladium Announces Closing of First $1...
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$75 Million Offering
12/12/2007 Announces Increase in Unit Offering
11/12/2007 Prices Marketed Unit Offering
27/11/2007Announces Marketed Unit Offering
22/10/2007Reports Final Drill Results at Ahmavaara Deposit
11/10/2007Expands Exploration Activities
24/09/2007Arctic Platinum Project Infill Drilling Confirms Good Contin...
12/07/2007Infill Drilling at NAP's Ahmavaara Deposit at Suhanko Finlan...
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TORONTO (PDL.TO)AMEX (PAL)
19,73+0.00%400,00+0.00%
TORONTO
CA$ 19,73
16/12 16:00 -
0%
Cours préc. Ouverture
19,73 19,73
Bas haut
19,73 19,74
Année b/h Var. YTD
 -  -
52 sem. b/h var. 52 sem.
- -  19,73 -%
Volume var. 1 mois
90 733 -%
24hGold TrendPower© : 8
Produit Copper - Gold - Nickel - Palladium - Platinum
Développe
Recherche Copper - Gold - Nickel - Palladium - Platinum
 
 
 
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