North American Palladium Ltd
			Symbol			PDL
			Shares Issued			126,483,052
			Close 2009-11-12			C$ 2.98
			Recent Sedar Documents

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

North American Palladium loses $6.19-million in Q3

2009-11-13 08:31 ET - News Release

Mr. William Biggar reports

NAP ANNOUNCES THIRD QUARTER RESULTS

North American Palladium Ltd. (NAP) today released financial results for the third quarter ended Sept. 30, 2009.

"We achieved several significant milestones during the third quarter," said William J. Biggar, NAP's president and chief executive officer. "We strengthened our balance sheet by raising over $70-million in equity, which will underpin our growth objectives. We also had further exploration success at Lac des Iles, and continue to be on schedule for reaching full commercial production at our Sleeping Giant gold mine in early 2010."

Third quarter highlights:

• Completed an equity offering of 16 million units at a price of $3.15 per unit for gross proceeds of $50.4-million on Sept. 30, 2009. Subsequent to quarter-end, the underwriters' overallotment option was exercised and a private placement of four million flow-through common shares was completed on Oct. 8, 2009, providing additional gross proceeds of $7.6-million and $15-million, respectively. Total gross proceeds raised were $73-million;
• NAP poured its first gold at its Sleeping Giant mine shortly after quarter-end on Oct. 6, 2009;
• In September, 2009, the company exercised its right to buy back a 1-per-cent net-smelter-return royalty on the Sleeping Giant gold mine for $1-million;
• Net working capital as at Sept. 30, 2009, was $109.6-million, including cash and cash equivalents of $93.1-million. In addition, NAP has no long-term debt;
• There was no palladium production for the quarter ended Sept. 30, 2009, as compared with 63,791 ounces in the third quarter last year due to the Lac des Iles (LDI) mine being on care and maintenance during the quarter;
• Cash used in operations for the quarter ended Sept. 30, 2009, was $9-million, a decline of $16.5-million, compared with cash provided by operations of $7.5-million in the third quarter last year;
• The net loss for the quarter ended Sept. 30, 2009, was $6.2-million or six cents per share, compared with a net loss of $71.2-million or 85 cents per share in the third quarter last year;
• The company added to its land package in Quebec, signing an agreement to earn a 50-per-cent interest in the Laflamme gold property, and after quarter-end, acquired the Harricana North property. Both properties are in the prolific Abitibi region of Quebec and strategically located in relation to the Sleeping Giant mill.

The remainder is available to Stockwatch subscribers.
If you would like to give the Stockwatch system a try, click here for a free 30 day trial subscription.