North American Palladium (NAP) is pleased on the progress of its production ramp up from the lower Offset Zone utilizing the new shaft infrastructure at its Lac des Iles palladium mine (LDI) in Northern Ontario.
Underground production averaged more than 3,100 tonnes per day, ahead of the company's operating guidance, which forecasted 3,000 tonnes per day for the first half of the year.
Payable palladium production in January totaled approximately 15,200 ounces, about 15 per cent ahead of internal forecasts and represented one of the best months in the last two years of operation. Production in January also benefited from higher underground grades which averaged approximately 4.90 grams per tonne palladium.
"We are very pleased with the progress to date at LDI, which has surpassed some of our internal forecasts for the month of January and continues to show good trends in February so far," said Phil du Toit, NAP president and CEO in a Feb. 12 statement.
"Although still early on in the year, we remain encouraged by the momentum of our new team at site, and the potential that can still be realized through our ongoing cost optimization initiatives and improved mine planning. I would like to recognize the good work of our team and contractors at LDI, whose efforts have fueled the progress to date."