North American Palladium (“NAP” or the “Company”) (TSX:PDL) (OTC PINK:PALDF) today announced financial and operational results for the three months and year ended December 31, 2017.
The Company also announced its board of directors (the “Board”) has initiated a process to explore, review and evaluate a broad range of potential strategic alternatives focused on maximizing shareholder value, including a potential sale of the Company or a secondary sale of securities.
Jim Gallagher, President and CEO of North American Palladium, said:
“2017 was a year in which the Lac des Iles mine began to demonstrate its full potential. We met and exceeded the targeted underground production rate of 6,000 tonnes per day, ahead of the original 2017 production plan. The mill returned to full time operations in the fourth quarter, at an average rate of 11,270 tonnes per day with the addition of low-grade surface stockpiles.
This enabled NAP to surpass the previously stated 2017 guidance of 180,000-190,000 palladium ounces for the year.”