North American Palladium has announced projected first-quarter production of palladium at its Lac des Ilses mine of 78,805 oz – up 68 per cent from the same period last year when 47,015 oz was mined.

Meanwhile, the company's production of platinum metal by-products is also expected to show an increase from 4,698 oz a year ago to 6,892 oz this year – an improvement of 46 per cent.

Figures for the company's processing volumes are expected to stand at 1,288,540 t at a recovery rate of 76 per cent, compared with 1,125,710 t at a rate of 72.7 per cent in the first quarter of 2006.

Of the processed ore, the average palladium head grade was up year-on-year to 2.48 g/t from 1.79 g/t, which North American attributes to improvement in mill availability to almost 95 per cent.

Improvements for the company's mining and processing volumes coincided with the continued healthy spot prices for palladium, which currently stands at an average of $346 per oz, from $290 per oz a year ago.

Source: North American Palladium Reports 68% Increase in First Quarter 2007 Palladium Production

16/04/07

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