North American Palladium has released its results for the second quarter of 2005, showing a 37 per cent decline in palladium production compared to the same period last year.

That dip was blamed on a 17 per cent decline in mill throughput, combined with lower ore grades and metal recoveries during the three months to June 30th.

The company also revealed a decrease in the production of a number of precious metals including platinum, which resulted in a 29 per cent drop in revenue from by-product metal.

However, the firm stated that prices for by-product metals remained at historically high levels, somewhat off-setting its reduction in production of these metals.

The slowdown in production was a major factor in North American Palladium's net loss of $15,228,000 on revenues of $23,544,000, compared to a net income of $2,834,000 on revenues of $51,712,000 during the same period last year.


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