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Production and Profits Increase at North American Palladium with the Announcement of its Third Quarter 2017 Financial Results
Nov. 06, 2017 08:29AM PST
Precious MetalsNorth American Palladium (“NAP” or the “Company”) (TSX:PDL) (OTC PINK:PALDF) today announced financial and operational results for the three months ended September 30, 2017. Jim Gallagher, President and CEO, said: “We are pleased to report another profitable quarter driven by record underground production and continued strength in palladium prices. In September, we returned to full-time mill operations …
North American Palladium (“NAP” or the “Company”) (TSX:PDL) (OTC PINK:PALDF) today announced financial and operational results for the three months ended September 30, 2017.
Jim Gallagher, President and CEO, said:
“We are pleased to report another profitable quarter driven by record underground production and continued strength in palladium prices. In September, we returned to full-time mill operations several weeks ahead of schedule, contributing to an additional 184,285 tonnes milled this quarter compared to the same period in 2016.
The Company met and exceeded the targeted underground production rate of 6,000 tonnes per day, ahead of the original 2017 production plan. The higher level of output reflects the production from several additional mining areas in the upper part of the mine, including the new B2 zone, and the continued success of the sub-level shrinkage mining method in the lower part of the mine. We expect the underground production rate to remain above 6,000 tonnes per day for the remainder of the year and into 2018.”