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Thread: Palladium ready to move?

  1. #11

    Default

    I'm one that's not been convinced on palladium. I feel it is more subject to economic changes. If you feel the global economy is gaining momentium, buy it because more auto's are being built and sold. If a financial crisis happens, I don't think it will fair as well as AU, AG and PT. Palladium does not have a history as money, does not supply enough to the jewelry trade to amount to anything and it is plentiful.
    Other than that, it's great! :-)
    Soon as I have enough AU, AG and PT, I'll be buying some!

    EE

  2. #12

    Default PAL on fire

    PAL is on fire! Moved from 7.2 to 9.1 in 8 days. Up another 4.7% today. Volume picking up.

    Palladium chart looks really good here.

    Copied this from the platinum board since it is more related to palladium. Sorry for the dupl.

    Commoner, You must be in a really good mood today!
    Last edited by JER01; 04-12-2007 at 02:06 PM.

  3. #13

    Default

    This may have something to do with it.:





    Press Release Source: North American Palladium Ltd.

    North American Palladium Expands Mineral Resource at LDI Offset High Grade Zone
    Monday April 2, 3:41 pm ET


    TORONTO, ONTARIO--(MARKET WIRE)--Apr 2, 2007 -- This news release contains forward-looking statements. Reference should be made to "Forward-looking Statements" at the end of this news release.
    North American Palladium Ltd. ("NAP") (Toronto:PDL.TO - News)(AMEX:PAL - News) through its wholly-owned subsidiary Lac des Iles Mines Ltd., is pleased to report an updated mineral resource estimate for its Offset High Grade Zone located at the Lac des Iles Mine in northwestern Ontario.

    The Offset High Grade Zone (OHGZ) was first identified in 2001 and is located some 250 metres to the southeast of the High Grade Roby Zone which is currently being mined. To date, the OHGZ hosts more than three times the tonnage of the High Grade Roby Zone and remains open along strike to the north, south and at depth.

    In 2006 a successful $3.3 million infill drilling program from surface on the OHGZ permitted the upgrade of a portion of the known Inferred Resource into the Indicated category while also demonstrating good continuity of significant widths with increased copper and nickel grades in comparison to that encountered in the Roby High Grade Zone. (Details of these results have been disclosed in press releases dated September 14 and March 2, 2006.) As a result, the following updated mineral resource estimate was prepared by Scott Wilson Roscoe Postle Associates Inc. In comparison with the previous Inferred Mineral Resource estimate at year end 2005, over 3.2 million tonnes have been upgraded to the Indicated Resource category




    -------------------------------------------------------------------------
    Tonnes Pd Pt Au Cu Ni PdEq
    Zone ('000's) (g/t) (g/t) (g/t) (%) (%) (g/t)
    -------------------------------------------------------------------------
    Indicated Resources
    -------------------------------------------------------------------------
    Offset High Grade Zone 1,585 6.63 0.45 0.51 0.139 0.156 9.97
    Footwall Roby Zone 1,653 4.31 0.32 0.28 0.104 0.111 6.58
    Total Indicated Resources 3,239 5.45 0.38 0.39 0.121 0.133 8.24
    -------------------------------------------------------------------------
    Inferred Resources
    -------------------------------------------------------------------------
    Offset High Grade Zone 9,498 5.67 0.39 0.38 0.109 0.129 8.40
    Footwall Roby Zone 3,296 4.05 0.34 0.34 0.104 0.109 6.45
    Total Inferred Resources 12,794 5.25 0.38 0.37 0.108 0.124 7.90
    -------------------------------------------------------------------------
    - Mineral Resources that are not Mineral Reserves do not have
    demonstrated economic viability
    - Mineral Resources are estimated at a palladium equivalent (PdEq)
    grade of 3.6 g/t
    - PdEq = Pd (g/t) + 2.49 x Pt (g/t) + 1.38 x Au (g/t) + 2.72 x Cu
    (%) + 7.35 x Ni (%)
    Note: Numbers in the table may not add up due to rounding
    In April 2007 NAP plans to commence a drilling program from an exploration drift to allow further definition drilling of the upper portion of the OHGZ. Based on its experience with the mineralization at Lac des Iles, NAP believes that the potential to extend the limits of the OHGZ mineralization and increase the size of the mineral resource in this zone is excellent.




    Left the rest out.

    Jer

  4. #14

    Default PAL -- Blowout results in Q1 2007

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

    --------------------------------------------------------------------------------

    Market Wire
    10:46 a.m. 04/16/2007


    TORONTO, ONTARIO, Apr 16, 2007 (MARKET WIRE via COMTEX) -- North American Palladium (PAL) -

    Highlights

    This news release contains forward-looking statements. Reference should be made to "Forward-looking Statements" at the end of this news release.

    - Palladium production in Q1 2007 climbed by 68% to 78,805 ounces compared with 47,015 ounces for the same period in 2006

    - The average palladium head grade for the quarter was 2.48 g/t compared with 1.79 g/t in Q1 2006

    - Overall by-product metal production for the quarter also increased substantially

    - Mill availability improved to almost 95%, among the highest rates ever achieved

    - 1,288,540 tonnes of ore was processed during the quarter at a Pd recovery rate of 76.6% compared with 1,125,710 tonnes of ore in Q1 2006 at a Pd recovery rate of 72.7%

    - Spot palladium prices in Q1 2007 continued to strengthen to an average of US $346 per ounce compared with US $290 per ounce in Q1 2006

    Results of Operations

    In the first quarter of 2007, the Company's Lac des Iles mining operation produced 78,805 ounces of palladium, an increase of 68% over the 47,015 ounces produced in the comparable quarter of 2006. Production in the first quarter of 2007 also surpassed fourth quarter 2006 production of 73,242 ounces by 8%. This performance is consistent with the rising production trend reported throughout 2006, signalling a return to higher sustainable production levels that are nearing two year highs. The improvement is largely a result of the contribution from the underground mine that commenced production in April 2006 and which continues to positively impact grade and throughput at the mine. During the first quarter of 2007, an average of 2,236 tonnes per day was extracted from the underground mine at a palladium head grade of approximately 6.0 g/t. This produced a blended palladium mill feed grade in the first quarter 2007 of 2.48 g/t compared with 1.79 g/t palladium in first quarter 2006.

    The Company's by-product metal production in the first quarter of 2007 saw substantial increases over the comparable period in 2006: platinum increased 46% to 6,862 oz vs. 4,698 oz; gold increased 35% to 4,890 oz from 3,615 oz; nickel increased 32% to 812,385 lbs from 616,037 lbs; while copper increased 13% to 1,370,113 lbs from 1,213,394 lbs. in 2006.

    In total, 1,288,540 tonnes of ore was processed during the first quarter at an average of 14,317 tonnes per day at a palladium head grade of 2.48 g/t. This compared to 1,125,710 tonnes of ore or 12,508 tonnes per day at a palladium head grade of 1.79 g/t in first quarter 2006. These results reflect a significant improvement in mill availability to almost 95%, among the highest rates ever achieved, compared to 85% in the first quarter of 2006. Recoveries also improved across the board, with palladium recovery of 76.6% matching historic highs reported in early 2004.

    ----------------------------------------------------------------- First Quarter ----------------------------------------------------------------- Palladium 2007 2006 ----------------------------------------------------------------- Ore Milled (tonnes) 1,288,540 1,125,710 ----------------------------------------------------------------- Head Grade (g/t) 2.48 1.79 ----------------------------------------------------------------- Recovery (%) 76.6 72.7 ----------------------------------------------------------------- Mill Availability (%) 94.5 84.9 ----------------------------------------------------------------- Production (oz) 78,805 47,015 ----------------------------------------------------------------- By-Product Metals ----------------------------------------------------------------- Platinum (oz) 6,862 4,698 ----------------------------------------------------------------- Gold (oz) 4,890 3,615 ----------------------------------------------------------------- Copper (lbs) 1,370,113 1,213,394 ----------------------------------------------------------------- Nickel (lbs) 812,385 616,037 -----------------------------------------------------------------


    Spot palladium prices in the first quarter of 2007 averaged US $346 per oz and ended the quarter near the period's high of US $358 per oz. This compared to an average of US $290 per ounce in the first quarter of 2006. The palladium price has displayed consistent strength and momentum over recent quarters as rising confidence in supply/demand fundamentals and historically significant pricing differentials between palladium and platinum give rise to substitution particularly in the autocatalyst sector. North American Palladium is highly leveraged to palladium price movements as it currently sells all of its palladium into the spot market.

    North American Palladium's Lac des Iles Mine is Canada's foremost primary producer of platinum group metals and is among the largest open pit, bulk mineable palladium mining operations in the world. The Mine also generates substantial revenue from platinum and by-product metals including nickel, gold and copper. NAP is focused on expanding its production profile through joint ventures in Canada and the Arctic Platinum Project in Finland. Palladium's catalytic qualities are expected to play an increasing role in the automotive industry in response to growing concern for global environmental solutions, in fuel cell technology for alternative energy sources and a burgeoning jewelry market, while continuing to have widespread application in the dental, electronics and chemical sectors.

    Forward-Looking Statements - Certain statements included in this news release are forward-looking statements within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation including the Securities Act (Ontario), relating to the objectives, plans, strategies and results of operation of the Company including words to the effect that the Company or management expects a stated condition or result to occur. When used herein, words such as "expect", "continues", "pursue", "will" and other similar expressions as they related to the Company or its management, are intended to identify forward-looking statements. In particular, statements relating to estimated future metal prices and future ore and metal production are forward-looking statements. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including but not limited to, the assumption that (1) market fundamentals will result in increased palladium demand and prices and sustained by-product metal demand and prices, (2) the integrated operation of the underground mine and the open pit mine remain viable operationally and economically, (3) financing is available on reasonable terms, (4) expectations for blended mill feed grade and mill performance will proceed as expected, (5) new mine plan scenarios will be viable operationally and economically, and (6) plans for improved mill production, for sustainable recoveries from the Lac des Iles mine, for further exploration at the Lac des Iles mine and surrounding region, and for exploration in Finland will proceed as expected.

  5. #15

    Default

    JER01: Thanks for your updates on PAL. “Commoner, You must be in a really good mood today!” …yes I am one happy camper. I could see a little profit taking and a consolidation for palladium in general, but for me, I will hold all palladium for 7 to 15 years, or until I find that perfect Macadamia Nut Plantation that I have been looking for over the past 40 years, LOL.

  6. #16

    Default PAL -- But can they make money?

    Commoner, hope you get your Macadamia nut plantation. Send me a sample when you get it up & running.

    Well, PAL has two very good things going its way: A red hot pa market, & big increases in production/yields. Management seems to be improving there.

    But the big question is: Has management figured out how to make money with the increased cash flow??????????????????????????? Got all my toes crossed.
    Last edited by JER01; 04-16-2007 at 06:42 PM.

  7. #17

    Default

    Today my stock world is a sea of red, with only one green atoll… PAL

  8. #18

    Default

    So much for that atoll -- my entire stock world is now red. It's good to have bullion at times like this; at least the color is still gold and silver and silver (palladium).

  9. #19

    Default PAL -- Blowout Q1 results [edited to make it fit]

    Looks like they finally got their sh!t together. Cash flow positive. They now know how to make money. Palladium > 45% of revenues. Nickel > 28% of revenues.


    Reports First Quarter 2007 Revenue Increase and Profitability




    TORONTO, ONTARIO, May 09, 2007 (MARKET WIRE via COMTEX) -- North American Palladium (AMEX: PDL) -

    Highlights

    - Revenues in the first quarter of 2007 rose by 117% to $68.4 million compared to $31.5 million in the first quarter of 2006. Palladium revenues of $31.1 million increased by 85% while by-product metal revenues of $37.3 million improved by 154%.

    - Palladium sales in the quarter were realized at US$352 per oz compared to US$330 per oz in the comparable quarter last year, while by-product metal prices also realized considerable gains. Palladium accounted for 45% of first quarter total revenues while nickel continued to be an important revenue source at 28% of revenue.

    - Cash cost per ounce of palladium produced, net of by-product metal revenues and royalties, decreased to a record low of US$15 per oz in Q1 2007 compared to US$329 per oz in Q1 2006.(1) Improved ore grades and metal recoveries, strong by-product metal prices and a decrease in the open pit waste to ore strip ratio accounted for the improvement.

    - Operating cash flow for the quarter (before changes in non-cash working capital)(1) improved by $22.9 million to $22.5 million compared to cash used in operations of $0.4 million in 2006.

    - Net income for the quarter was $5.5 million or $0.10 per share compared to a net loss of $4.1 million or $0.08 per share in the first quarter last year.

    - Spot palladium prices during the quarter averaged US$346 per oz compared to US$290 per oz in the comparable quarter of 2006. The Company's performance is highly correlated to prevailing palladium prices and by-product metal prices as it continues to sell all its metal production into the spot markets.

    (1) Non-GAAP measure.

    Results of Operations

    The Company's financial performance in the first quarter of 2007 was driven by a 68% increase in palladium production at its Lac des Iles ("LDI") open-pit and underground operations to 78,805 ounces compared to 47,015 ounces in the first quarter of 2006, as well as continued strength in commodity prices for all metals produced. The significant improvement in ore grades, metal recoveries and mill availability combined to reduce the cash cost per unit of palladium produced(1), net of by-product metal revenues and royalties, to a record-setting US$15 per ounce compared to US$329 per oz in the comparable quarter last year.

    Spot palladium prices in the first quarter of 2007 averaged US$346 per oz and ended the quarter near the period's high of US$358 per oz, compared to an average of US$290 per ounce in the first quarter of 2006. The palladium price continues to display consistent strength and momentum as rising confidence in supply/demand fundamentals is fueled by growing global emission legislation and historically significant divergences among platinum group metal prices. In the first quarter of 2007, revenue from palladium sales was recorded at US$352 per ounce compared to the corresponding period in 2006 of US$330 per ounce.

    The Company's by-product metal production in the first quarter of 2007 saw substantial increases over the comparable period in 2006: platinum increased 46% to 6,862 oz vs. 4,698 oz; gold increased 35% to 4,890 oz from 3,615 oz; nickel increased 32% to 812,385 lbs from 616,037 lbs; and copper increased 13% to 1,370,113 lbs from 1,213,394 lbs. With the increase in commodity prices year-over-year: platinum $1,244/oz vs $1,073/oz; nickel $19.87/lb vs. $6.96/lb; gold $661/oz vs. $581/oz; and copper $3.11/lb vs $2.48/lb; total by-product metal sales in the first quarter of 2007 rose 154% to $37.3 million from $14.7 million in first quarter 2006. Nickel sales continue to make a substantial contribution and now account for 28% of total revenues.

    The commitment to continuous improvement at the LDI processing facilities has yielded significant results. Mill availability in the first quarter of 2007 was almost 95% compared to 85% in the first quarter of the previous year while recoveries also approached two-year highs at 76.6% compared to 72.7% in 2006. The mill processed 1,288,540 tonnes of ore for an average of 14,317 tonnes per day, producing 78,805 ounces of palladium, compared to 1,125,710 tonnes of ore for an average of 12,508 tonnes per day producing 47,015 ounces of palladium in the first quarter of 2006. The average palladium head grade was 2.48 grams per tonne compared to 1.79 grams per tonne for the same period last year. This was attributable to the higher grade ore from the underground mine, which began commercial production in April 2006, averaging 6.00 grams per tonne in the first quarter of 2007.

    Unit cash costs to produce palladium(1) (production costs including overhead and smelter treatment, refining and freight costs), net of by-product metal revenues and royalties, decreased to a record low of US$15 per ounce in 2007 compared to US$329 per ounce in the corresponding period in 2006. The decrease in unit cash costs1 was attributed to improved ore grades, better metal recoveries, strong by-product metal prices, as well as a decrease in the open pit waste to ore strip ratio to 1.55:1 in 2007 from 2.20:1 in 2006. These lower unit cash costs1 were achieved despite an increase in total production costs due to the inclusion of underground mine production costs, which for the corresponding period in 2006 were capitalized as pre-production costs.

    The first quarter of 2007 generated a profit from mining operations of $12.9 million compared to a $3.5 million loss in the corresponding period of 2006. As a result of the foregoing, net income for the first quarter of 2007 was $5.5 million or $0.10 per share compared to a net loss of $4.1 million or $0.08 per share for the corresponding period in 2006.

    Summary of Quarterly Results --------------------------------------------------------------------------- 2006 2007 --------------------------------------------------------------------------- (thousands of dollars except per share amounts) Q1 Q2 Q3 Q4 Q1 --------------------------------------------------------------------------- Revenue from metal sales 31,492 35,519 41,431 50,758 68,439 Cash flow from operations, prior to changes in non-cash working capital (1)(i) (362) (3,105) 2,758 11,024 22,549 Exploration expense 2,024 2,659 2,576 4,572 3,228 Net income (loss) (4,141) (11,325) (11,247) (7,396) 5,507 Basic net income (loss) per share (0.08) (0.22) (0.21) (0.14) 0.10 Fully diluted net income (loss) per share (0.08) (0.22) (0.21) (0.14) 0.10 --------------------------------------------------------------------------- (1) A non-GAAP measure (please refer to the Company's MD&A under "Non-GAAP Measures") (i) Includes exploration expense


    Operating cash flow(1) (before changes in non-cash working capital) in the first quarter of 2007 was $22.5 million, a $22.9 million improvement over cash used in operations of $0.4 million in 2006. The improvement was mainly attributable to the increase in metals production as well as the improved pricing for palladium and by-product metals. The increase in revenue more than offset the increase in operating costs arising from the inclusion of expenses related to production from the underground mining operation that commenced commercial production in April 2006.

    Changes in non-cash working capital required $16.0 million of cash in the quarter compared to $10.1 million for the corresponding quarter of 2006. The increase in the physical quantity of palladium metal in the concentrate awaiting settlement to 132,554 ounces, combined with the higher palladium and by-product prices used to value the concentrate, resulted in a $21.9 million or 27% increase in the value of concentrate awaiting settlement to $103.9 million. After allowing for non-cash working capital changes, cash provided by operations was $6.5 million in the first quarter of 2007 compared to cash used of $10.4 million in comparable quarter last year.


    The Company's debt position was reduced to $69.9 million in the first quarter of 2007 compared to $74.9 million at year end 2006.

    Outlook

    Palladium production at the Lac des Iles Mine is on track to meeting previously announced guidance of approximately 290,000 ounces and, as expected, average head grades in 2007 continue to align with historical averages for the mine. Management believes that the palladium market has broken out of prior years' surplus pressures into a demand-driven pricing environment. This is supported by the increasing global catalytic demand for clean air metals fueled by growing low-tolerance emission legislation.

    The Company's exploration program will continue in 2007, with approximately $15.0 million being allocated to exploration activities. The Company will focus on further defining the Offset High Grade Zone at LDI in addition to completing the preliminary scoping of the Arctic Platinum Projects in Finland by the end of the first half of 2007. A key strategy moving forward will be the pursuit of quality Nickel-PGM opportunities that present potential synergies such as that of the Shebandowan nickel-copper project 100km southwest of LDI.

  10. #20

    Default PAL -- not the same old company

    This is not the same old PAL:
    ... It has shown that it finally knows how to make money
    ... It is finally cash flow positive
    ... It has finally got its mining operations running smoothly & efficiently
    ... The revenues are significantly increasing BOTH from increased refined metal production, & product metal price increases.
    ... It has good reserves & is actively doing what is needed to increase those reserves.


    Revenues in Q1 were: 45% from palladium, 28% from nickel

    Now that investors realize that management has got their act together & turned PAL into a profitable company, the [potential] multiple should expand. This is now a growth company.


    http://quotes.nasdaq.com/quote.dll?page=...

    Above is a 2 yr daily chart of PAL [If it isn't, you may need to chg the settings to get it there].

    Note the large base it built between Aug 06 & Mar 07, with a hi of 9.8. In late april it broke out above that hi & successfuly retested on a pullback.

    On May 9 it significantly broke out above the previous move on volume 12 x avg volume. This was a confirmation that investors regard PAL as a new profitable company, not the old company that always disappoints. Cramer may have been the straw that got it started, but is obvious from the very large increase in volume, that there were a lot of buy stops placed in anticipation of a good earnings report.

    The future of this co is bright.
    Last edited by JER01; 05-11-2007 at 02:19 PM.

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