North American Palladium Ltd. (“NAP” or the “Company”) (TSX:PDL)(OTC PINK:PALDF) today announced financial and operational results for the year ended December 31, 2016 from its Lac des Iles palladium mine (“LDI”) in northwestern Ontario.
As quoted in the press release:
“2016 was a transition year for the Lac des Iles mine site as we implemented a number of significant initiatives to set the operation up for long-term success,” said Jim Gallagher, President and CEO. “With the continued support of Brookfield Business Partners LP (together, with its affiliates, “Brookfield”), we were able to fund a significant long term capital investment toward both our underground and surface operations. The recent change in mining method is already showing the intended results and the discovery of the B2 Zone will add ounces to an upcoming mineral reserve and resource report expected in the first quarter of 2017. We intend to follow this with an updated life-of-mine plan to be published in the second quarter of 2017 which will incorporate a number of additional improvements and opportunities.”