NAP wholly owns and operates the Lac des Iles mine, northwest of Thunder Bay, Ontario, and owns stakes in two Canadian exploration properties, the Sunday Lake project and Shebandowan joint venture. In operation since 1993, Lac des Iles produced 237,461oz of palladium at an all-in sustaining of US$690/oz in 2018, generating C$147-million in earnings and C$45-million in free cash flow. The operation is on track to meet its 2019 production guidance of 220,000-235,000oz of palladium at an AISC of $785-$815/oz. Lac des Iles is a low-cost PGM producer, which is fully mechanised with a low labour complement. "We have successfully established Lac des Iles as one of Canada's largest, lowest-cost and safest underground mines, producing a metal that contributes to a cleaner global environment."

Source: The North Africa Journal October 08, 2019 04:18 UTC