North American Palladium looking to sell, reduce debt

"...Despite producing 45,600 ounces of palladium so far this quarter at Lac Des Iles, located around 90 kilometres Northwest of Thunder Bay, NAP says a decline in prices coupled with a weak Canadian dollar forced it to ask senior secure lenders for certain financial and other relief until August."

http://www.tbnewswatch.com/News/370113/Recapitalization

"NAP is an established precious metals producer that has been operating its Lac des Iles mine (LDI) located in Ontario, Canada since 1993. LDI is one of only two primary producers of palladium in the world, offering investors exposure to palladium."

Interesting that the company cannot make a profitable go of it despite Palladium prices increasing by over 250% over the last 10 years.

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Would be interesting to see who picks this company up should it need to sell- otherwise who participates in any equity raise.

Here is their PEA:

http://www.napalladium.com/investors/news-releases/news-release-details/2015/North-American-Palladium-Announces-Filing-of-Preliminary-Economic-Assessment-for-Lac-des-Iles-Mine-on-SEDAR/default.aspx

Palladium grades at their best are lower than those of Eagle's Nest.

A Eagle's nest has PT, NI , Cu and Au . Advantage NOT to be a potential secondary producer of Pd.

Cheers,

Luker