North American Palladium Announces Third Quarter Financial Results

North American Palladium Ltd. (TSX:PDL,NYSE:PAL) announced financial and operational results for the third quarter ended September 30, 2011.

As quoted in the press release:

Q3 Highlights
– Production of approximately 35,000 ounces of payable palladium at a cash
cost(1) of US$496 per ounce;

– Realized palladium price of US$769 per ounce, giving an operating margin
of US$273 per ounce, and total operating margin of US$9.5 million for
the palladium produced;

– Revenue of $38.3 million;

NAP’s President and CEO, William J. Biggar said,

During a very active development period, our LDI palladium mine achieved steady operational results in the third quarter. With the mine expansion being our top priority, our revised 2011 mine plan allowed us to mitigate some of the logistical constraints identified earlier this year, enabling us to keep the mine expansion on schedule to begin mining via shaft in the fourth quarter of 2012.

Click here to read the North American Palladium Ltd. (TSX:PDL) press release.