North American Palladium lifts Lac des Iles reserves and resources
TORONTO (miningweekly.com) – Canadian palladium producer North American Palladium (NAP) rose almost 19% on Wednesday on the TSX after it reported sizeable increases to both the compliant reserves and resources at its flagship Lac des Iles property, in north-western Ontario.
The Toronto-headquartered company reported reserves of 20.4-million tonnes at a grade of 2.1 g/t and resources of 71.5-million tonnes at a grade of 2 g/t, reflecting 5.9-million ounces of contained palladium.
NAP also reported a 16% increase in the combined underground measured and indicated resources of 3.9-million tonnes, grading 2.67 g/t, or 413 000 oz of contained palladium, while near-surface reserves doubled 101% to 6.3-million tonnes, grading at 1 g/t, containing 197 000 oz of palladium.
Near surface resources rose 23% to 9.8-million tonnes, grading 1.28 g/t, for 274 000 oz of contained palladium.
“The positive change in our global mineral reserve and resource estimate for Lac des Iles reflects both our recent exploration successes and the current, favourable longer-term outlook on palladium prices, which enhances our ability to pursue expansion opportunities at our mining operations,” president and CEO Phil du Toit explained.
NAP’s TSX-listed stock on Wednesday reached an intraday peak of C$0.44 a share, before settling at C$0.415 apiece.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation