North American Palladium (“NAP” or the “Company”) (TSX:PDL) (OTC PINK:PALDF) today announced positive production results for the full year and provided guidance as to payable palladium production for fiscal 2018.
In 2017, the Company produced a total of 201,592 ounces of payable palladium. This surpasses the Company’s previously stated 2017 guidance of between 180,000-190,000 ounces. Since August 2017, the average daily underground production rate was at or above 6,000 tonnes per day, including an average of 6,450 tonnes per day in December. The mill successfully returned to full-time operation in the fourth quarter with underground production supplemented with low-grade surface stockpiles for an average milling rate of 11,274 tonnes per day during the quarter.
Jim Gallagher, President and CEO of North American Palladium, said:
“2017 was a year of significant accomplishments for the Lac des Iles mine. We exceeded our production guidance for palladium ounces with record underground production levels and by returning the mill to full-time operations in the fourth quarter.”