Global Mining News in real time

North American Palladium expects to hit full-year guidance

By: Henry Lazenby Canadian palladium producer North American Palladium (NAP) on Thursday reported strong output from its Lac des Iles (LDI) mine, in Thunder Bay, Ontario, for the fourth-quarter so far, prompting it say it will reach its full-year guidance. NAP on Thursday reported that output for October and... 

North American Palladium aims to lift 2014 output, slash capex 

By: Henry Lazenby Toronto-based North American Palladium (NAP) on Tuesday said it planned to boost its payable palladium production to between 170 000 oz and 175 000 oz, while dropping its capital investment budget to $30-million and its exploration budget to $4-million. The TSX-listed miner said it expected... 

Maudore inks milling agreement with Abcourt Mines

By: Henry Lazenby Quebec-based Maudore Minerals on Friday announced that its subsidiary Aurbec Mines has entered into a custom-milling agreement to treat ore from gold miner Abcourt Mines' Elder mine at Aurbec’s Sleeping Giant mill. The Elder mine is located near Rouyn-Noranda, Quebec, and the ore would be trucked... 

Maudore mine-down plan interrupted as workers down tools

By: Henry Lazenby Gold junior Maudore Minerals’ plan to place its advanced-stage Vezza project on care and maintenance has been delayed as its main contractor pulled its crews from the project earlier than planned, owing to a dispute over efforts to renegotiate contractual payment terms as work draws to a close.... 

NAP secures funds for Ontario mine expansion

By: Henry Lazenby Canadian palladium producer North American Palladium (NAP) has secured two financings and has extended a line of credit to fund the progressing expansion of its Lac des Iles (LDI) mine, in Ontario. The company on Friday said it had closed a $130-million term loan financing with investor... 

Maudore Minerals pours first gold from recently acquired Quebec mine

By: Henry Lazenby TSX-V-listed Maudore Minerals has poured its first two gold bars for about 945 oz from the Sleeping Giant gold mill and adjacent tailings facility, in Quebec, after acquiring a subsidiary of North American Palladium (NAP), NAP Gold, for $18-million in cash and 1.5-million common shares in March.... 

Maudore Minerals acquires Quebec gold mill and assets

By: Henry Lazenby Gold project-development junior Maudore Minerals has acquired the Sleeping Giant gold mill and adjacent tailings facility, in Quebec, through acquiring a subsidiary of North American Palladium (NAP) for $18-million in cash and 1.5-million common shares. Maudore on Monday said as a result of its... 

NAP to raise C$35m for Ontario palladium mine

By: Henry Lazenby Precious metals producer North American Palladium (NAP) on Wednesday said it had entered into an agreement with a syndicate of underwriters co-led by Scotia Capital and RBC Capital Markets to raise C$35.03-million, by selling 11.3-million flow-through shares at C$3.10 apiece. The proceeds from... 

NAP boosts Q1 palladium production by 36%

By: Matthew Hill North American Palladium, the continent’s second-biggest producer of the metal used in vehicle exhaust systems, said on Tuesday it mined 41 760 oz in the first quarter, at a cash cost of $380/oz. CEO William Biggar said the performance of the company’s sole producing mine, Lac des Iles, located... 

NAP shares drop after guidance cut

By: Liezel Hill Shares in North American Palladium plunged 27% on Tuesday, after the group lowered full-year forecasts for both its mines and said it would emphasise development work rather than production for the balance of this year. The Toronto-based company owns the Lac des Iles palladium mine in Ontario... 

NAP unveils palladium expansion details, sees capex at C$204m

By: Liezel Hill Toronto-based North American Palladium expects to achieve commercial production from the new Offset zone at its Lac des Iles mine, in Ontario, in the third quarter of 2012, CEO Bill Biggar said on Tuesday. The company has completed a scoping study on the project, and expects pre-commercial... 

NA Palladium may restart Lac des Iles next year

By: Liezel Hill Toronto-based North American Palladium (NAP) could make a decision to restart its Lac des Iles (LDI) palladium mine within a "few" months, CEO William Biggar said on Friday. “If the palladium price holds or surpasses its current level for a few more months, then all other variables being equal,... 

NA Palladium says $50m financing terms 'not satisfactory', withdraws

By: Liezel Hill Toronto-based North American Palladium (NAP) has withdrawn from a best efforts private placement of up to $50-million, after the final terms proposed by its agent were “not satisfactory”, the company said on Wednesday. The firm initially said on August 17 it planned to sell up to $50-million in... 

NA Palladium will sell notes to raise $50m

By: Liezel Hill Toronto-based North American Palladium plans to sell up to $50-million in 7% secured convertible notes, in a best-efforts private placement, the firm said on Monday. The company has also given its agent an overallotment option to place another $15-million of notes. 

Former HudBay exec joins North American Palladium as CFO

By: Creamer Media Reporter Precious metals-miner North American Palladium on Monday appointed Jeff Swinoga as its CFO and vice-president of finance. He takes over the position from Fraser Sinclair, who would steps down on July 15 to “pursue other opportunities”. 

NA Palladium finds new PGM zone at Lac des Iles

By: Liezel Hill For a company that halted its only producing mine a good eight months ago, Toronto-based North American Palladium is doing a fine job of maintaining a steady flow of good news to the market. First. the firm announced in April it would buy Cadiscor Resources, which owns the closed Sleeping Giant... 

NA Palladium's acquisition of Cadiscor gets court approval

By: Liezel Hill The acquisition of gold exploration company Cadiscor Resources by North American Palladium is expected to close on Tuesday, after the firms received approval for the deal from the Quebec Superior Court. Cadiscor shareholders approved the transaction at a meeting on Friday. 

NA Palladium will buy Cadiscor, gains Sleeping Giant mine

By: Liezel Hill Toronto-based North American Palladium (NAP) has agreed to buy gold exploration firm Cadiscor Resources in an all-share transaction. NAP will exchange 0,33 of one of its shares for every Cadiscor share, which implies a share value for Cadiscor of C$0,59 apiece, and represents a 47% premium based... 

North American Palladium names new CEO

Toronto-based North American Palladium, which operates Canada's only primary platinum-group metals mine, has named William Biggar as its new president and CEO, succeeding James Excell. Excell, who served as president and CEO since January 2006, would step down on October 1, the company said in... 

North American Palladium appoints exploration VP

By: Liezel Hill Toronto-based North American Palladium, which operates Canada's only primary platinum-group metals mine, has appointed William Stone to the position of exploration vice-president, the company said on Thursday. 

Mining major not satiated by South Deep

By: Keith Campbell Cash-flush South African gold mining major Gold Fields Limited (GFL) is still on the prowl for greenfield, brownfield and acquisition opportunties, in addition to its recent $1,525-billion ($1,2-billion of it in cash) pounce on the country�s giant South Deep mine, with its deal to buy out... 

North American Palladium says production rose to 57 326 ounces

By: Bloomberg North American Palladium said production rose in the three months through June 30 as the Lac des Iles mine in Canada had its first full quarter of output. 

Gold Fields takes back seat in Finland PGM project

By: Nicola Mawson JSE-listed Gold Fields has restated its relationship with Canadian firm North American Palladium (NAP) and has now taken a back seat in the Finnish Arctic Platinum project. 

Canadian palladium miner eyes SA

A 57% plunge in the price of palladium in six months has done little to dampen the enthusiasm of Keith Minty, the chief executive of North American Palladium, for precious metals used to keep the air clean. 


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