North American Palladium increased production by 21 per cent during 2007.

Releasing production results for last year, the company announced that they had produced 286,334 oz of palladium up to December 31st 2007.

Palladium head grade increased by ten per cent to 2.39 g/t compared with the 2006 figure of 2.18 g/t while the spot price finished at $364 per ounce.

The company's Lac des Iles operation saw a 9.5 per cent increase in mill throughput in line with quarterly production levels and in the final quarter of the year the mine produced 71,595 oz of palladium.

A total of 1,165,769 tonnes of ore were processed during the fourth quarter for an average of 12,671 tonnes per day at a palladium recovery rate of 75.2 per cent.

Jim Excell, President and Chief Executive Officer, said: "We are very pleased to have achieved the third highest tonnage levels ever processed at the Lac des Iles mine.

"Near record levels of production for all metals was achieved in 2007," he added.

Source:

North American Palladium Increases Annual Production by 21%, 16/01/08
http://www.marketwire.com/mw/release.do?id=811392

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