North American Palladium Posts Net Loss of $26.3 Million for Q2 2013

North American Palladium Ltd. (TSX:PDL,AMEX:PAL) announced its operating, development and financial results for the second quarter of 2013, noting that its revenue came in at $33.2 million, down from $40.6 million in the year-ago quarter, while it suffered a net loss of $26.3 million, higher than its $3.1-million net loss in the same quarter last year.

Other highlights include:

• Produced 35,428 ounces of payable palladium at the Lac des Iles (“LDI”) mine at a cash cost per ounce(1) of US$564, bringing the six month total to 74,082 ounces at a cash cost per ounce(1) of US$524.
• Realized palladium selling price of US$719 per ounce, giving a palladium operating margin of US$155 per ounce, or US$5.5 million.
• Revenue of $33.2 million, impacted by decreased sales volumes, which were adversely affected by a late mill run in June, representing approximately $3.0 million of gross revenue that was not recognized due to the delay.
• Adjusted EBITDA(1) of $3.0 million.
• Invested $33.2 million in capital expenditures at the LDI mine inclusive of capitalized interest and capital leases (of which $27.6 million was invested in the LDI mine expansion), bringing the six month total spent to $72.5 million.

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