N.American Palladium Q1 loss narrows; cuts FY output view

May. 10, 2011 08:08AM PST

Reuters reports that North American Palladium Ltd’s (AMEX:PAL) first-quarter loss narrowed, but the company cut its 2011 palladium production forecast as it shifts focus to development from production.

The market news is quoted as saying,

The company raised its outlook on 2011 cash costs per ounce to $450 from $340-$370 an ounce it had expected earlier, citing appreciation of the Canadian dollar and higher contractor costs since the start of the year.