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North American Palladium Ltd.
Summary
| Project: | Lac des Iles | |
|---|---|---|
| Deposit: | Lac des Iles | |
| Location: | Canada | |
| Commodities: | Palladium-Platinum-Gold-Copper-Nickel | |
| Date: | 9/18/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Active Mining & Production | |
| Report details: | 18-9-2018: North American Palladium Ltd. announces a Feasibility Study report for its Lac des Iles deposit at the Lac des Iles project. Feasibility Study results incl. post-tax NPV of US $637M (8%), 9yr LOM at the project. Toronto, Ontario – September 17, | |
| Resources: | (Reserve, P+P): 40.877Mt @ 3.08g/t Pd Eq for 3.038Moz Pd contained | |
| CP/QP: | [Resources]: Dave Peck (Internal) | |
| ABSTRACT: | Toronto, Ontario – September 17, 2018 – North American Palladium Ltd. ("NAP" or the "Company") (TSX:PDL)(OTC PINK:PALDF) announced today the results of a new feasibility study (the “Feasibility Study”), incorporating major changes to the life of mine plan for the Lac des Iles Mine Property (“LDI”) in northwestern Ontario. The Feasibility Study has been prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects and will be filed within 45 days on SEDAR and posted on the Company’s website. All currency figures are in Canadian dollars unless otherwise noted. Based on the success of the recent transition to the sublevel shrinkage mining method (“SLS”) in the lower part of the mine, the Company initiated an internal evaluation of similar underground mass mining approaches for all of the near-surface resources as an alternative to a pushback of the existing Roby open pit proposed in the prior 2017 feasibility study. The positive results of this evaluation prompted the commissioning of the Feasibility Study. The Feasibility Study has improved margins, cash flows, mine life and net present value (“NPV”) relative to the previous study. Additionally, the more selective underground mining method provides the Company with increased flexibility to deal with any future palladium price volatility. “With the completion of the operational turnaround last year, the Company has now generated positive earnings for five consecutive quarters. The new mine plan outlined in the Feasibility Study generates increased cash flow by optimizing resources previously included in the Roby open pit pushback plan and by adding reserves that were previously sterilized by the open pit design. LDI continues to be one of the lowest cost underground mines in Canada. This new approach will take full advantage of LDI’s large, lower-grade near-surface resources and allow for the mining of more resources at an improved grade than contemplated in the prior 2017 Feasibility Study. The net result is improved operating margins, a longer mine life and greater value creation for shareholders,” said Jim Gallagher, President and CEO of North American Palladium. | |
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