North American Palladium’s First Quarter Results

North American Palladium Ltd. (TSX:PDL,NYSE:PAL) announced its preliminary palladium production results for the first quarter ending March 31, 2012.

As quoted in the press release:

In the first quarter of 2012, the Company’s Lac des Iles (“LDI”) mine produced 41,760 ounces of payable palladium at an approximate cash cost of US$380 per ounce.

During the first quarter, 532,435 tonnes of ore were mined, of which 219,945 tonnes came from underground sources (with an average palladium mined grade of 5.3 grams per tonne), and 312,490 tonnes from surface sources (with an average palladium mined grade of 1.9 grams per tonne). The LDI mill processed 519,944 tonnes of ore at an average palladium head grade at the mill of 3.5 grams per tonne, and a palladium recovery of 77%.

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