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March 21, 2014
06:06 EDTPALNAP provides update on reserves, resources, life of mine plan for Lac des Iles
North American Palladium provided an update on its mineral reserve and resource estimates and life of mine plan for its Lac des Iles mine property in northwestern Ontario. An update of current 2014 operations and production at LDI is also provided. Palladium production and operating costs in January and February were ahead of guidance with positive variances in both months. Total reserves and resources of 5.2M ounces of contained Pd is an increase of 24% above the January 2013 technical report. Of the total reserve, underground reserve accounts for 9.2M tonnes at a diluted grade of 3.9 g/t Pd. Total reserve is 15M tonnes at a grade of 2.8 grams per tonne palladium which now includes salvage mining in the open pit and a portion of the low grade stockpile on surface. Total reserves increased by 140,000 of contained Pd to 1.3M ounces. This is an increase of 12% compared to the previous technical report. Total resources increased by 860,000 ounces of contained Pd to a total of 3.9M ounces. This is an increase of 28% compared to the previous technical report. Utilizing only proven and probable reserves, the current Life of Mine, or LOM, increases by one year to 2019 with annual production peaking over 200,000 payable ounces and a total mined reserve of 1.1M payable Pd ounces, an increase of approximately 34% from the 2013 technical report. This plan does not include the potential shaft extension to access the lower Offset zone. Management will focus on advancing work to potentially extend the LOM through the future successful conversion of resources into reserves.
News For PAL From The Last 14 Days
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December 11, 2014
06:10 EDTPALNorth American Palladium provides update on ramp-up progress at Lac des Iles
North American Palladium announces an update for selected operating results for the months of October and November and year to date from the ongoing successful ramp-up of its operations at its Lac des Iles, or LDI, mine in Thunder Bay, Ontario. For October and November, the company produced 41,986 payable ounces of palladium from its Lac des Iles mine at a cash cost per ounce of $375. The mill commenced a trial full time run on October 1, and production cost per tonne milled for the two months averaged $36. Production of payable palladium year to date to the end of November is 156,409 ounces, and the Company expects to achieve its guidance for 2014. Year to date cash cost per ounce is $495 and production cost per tonne milled is $50. Underground production from LDI continues to ramp-up with daily mining rates for October averaging 3,736 tonnes, November 4,216 tonnes and to December 9, 4,765 tonnes. During this time period, the company has surpassed daily production rates of 5,000 tonnes per day on numerous occasions.

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