Key Developments: North American Palladium Ltd (PDL.TO)
1.25CAD
12:21pm EDT
$0.05 (+4.17%)
$1.20
$1.24
$1.26
$1.22
49,935
295,379
$2.52
$0.98
Latest Key Developments (Source: Significant Developments)
Maudore Minerals Ltd Acquires Sleeping Giant Processing Facility and Gold Assets from North American Palladium Ltd
Maudore Minerals Ltd announced that it has purchased the Sleeping Giant Mill and an adjacent Tailings Facility (together, the Processing Facility) from North American Palladium Ltd. through its acquisition of all of the outstanding shares of NAP Quebec Mines Ltd. (NAP Quebec) in accordance with a Purchase Agreement entered into on March 22, 2013 between Maudore and NAP. The Processing Facility is strategically located 60 km west of Maudore's Osbell Deposit and 150 km north of Val-d'Or, Quebec, along Highway 109, a route which continues north to Matagami, Quebec. In consideration for the shares of NAP Quebec, Maudore has paid to NAP a cash consideration of $18 million, which has been funded through the credit facility described below, and has issued to NAP 1,500,000 common shares. These common shares will be subject to a four-month hold period in accordance with Canadian securities laws. Neither NAP, NAP Quebecnor any of their insiders shall become an insider of Maudore as a result of the acquisition. The TSX Venture Exchange (the TSXV) has approved the acquisition. Full Article
North American Palladium Ltd Announces Closing Of Sale Of Its Gold Division To Maudore Minerals Ltd
North American Palladium Ltd announced that it has closed the sale of its Quebec-based gold division, NAP Quebec Mines Ltd., which holds the Vezza mine, the Sleeping Giant mine and mill complex, and its nearby portfolio of exploration properties, to Maudore Minerals Ltd. (Maudore). A binding agreement in respect of the sale was entered into on closing. The purchase price paid by Maudore consisted of $18 million in cash and 1.5 million common shares of Maudore, which shares are listed for trading on the TSX Venture Exchange. The shares are subject to a four-month hold period in accordance with Canadian securities laws. An adjustment to the purchase price for gold and silver inventory will also result in additional payments to NAP post closing. NAP intends to use the net proceeds from the sale to fund the mine expansion at its Lac des Iles palladium mine in Ontario. Dundee Capital Markets acted as NAP's financial advisor and Norton Rose as its legal advisor in connection with the sale process. Full Article
North American Palladium Ltd Appoints Phil du Toit As Chief Executive Officer And President
North American Palladium Ltd announced the appointment of Phil du Toit as President and Chief Executive Officer (CEO) of the Company, effective March 25, 2013. Full Article
North American Palladium Ltd Announces Board Changes
North American Palladium Ltd announced the appointment of Mr. Robert Quinn to the position of Chairman, effective March 4, 2013. Mr. Andre Douchane, NAP's Chairman for the last 7 years, will continue to perform Chief Executive Officer (CEO) responsibilities until a new CEO is named, and will therefore relinquish his role as Chairman to allow NAP to be governed by an independent Chairman. The Board of Directors remains active in its search to find a new CEO for the Company and a formal search process is underway through a Canadian executive recruiting organization. The Company will update shareholders when the candidate is named. Full Article
North American Palladium Ltd Issues FY 2013 Production Guidance
North American Palladium Ltd announced that for fiscal 2013, it expects to meet production guidance of 150,000 to 160,000 ounces, at a cash cost per ounce of $375 - $400. Full Article
North American Palladium Ltd Appoints New Chief Financial Officer
North American Palladium Ltd announced the appointment of Dave Langille, CPA, CMA, as Chief Financial Officer (CFO) of the Company, effective January 22, 2013. Full Article
North American Palladium Ltd Announces Senior Management Changes
North American Palladium Ltd announced that Mr. Jeffrey Swinoga has resigned as Vice President Finance and Chief Financial Officer, effective January 4, 2013, to pursue a Chief Financial Officer position at another public company. The Company's finance team has depth and experience to oversee financial management until a new Chief Financial Officer is named. The Board of Director's formal CEO search process is now well advanced and shortlisted highly qualified candidates are in the process of being interviewed. The Company will update shareholders when the successful candidate is named. Full Article
North American Palladium Ltd Announces CAD4 Million Private Placement Of Flow-Through Shares
North American Palladium Ltd announced that it has entered into an agreement with an underwriter under which they have agreed to act as sole agent to sell 2,425,000 flow-through shares (the Flow-Through Shares) of NAP on a bought deal private placement basis, at a price of CAD1.65 per Flow-Through Share (the Offering), for total proceeds of CAD4,001,250. The proceeds from this Offering will enable the Company to pursue a surface exploration program at the Lac des Iles mine property and the other greenfields exploration properties in Ontario during the fourth quarter. All shares issued pursuant to the Offering will be subject to a statutory four-month hold period. All shares issued pursuant to the Offering will be subject to a statutory four-month hold period. Full Article
North American Palladium Ltd Reaffirms FY 2012 Production Guidance
North American Palladium Ltd announced that it remains well positioned to achieve its annual production guidance of 150,000 to 160,000 ounces of palladium in fiscal 2012. Full Article
Platinex Inc Enters Into Agreement With North American Palladium Ltd's Lac des Iles Mines Ltd
Platinex Inc announced that it has entered into an agreement with Lac des Iles Mines Ltd. to sell 100% interest in its Tib Lake claims for $25,000 plus a 0.5% NSR royalty on production from the claims. Lac des Iles Mines Ltd. is a subsidiary of North American Palladium Ltd. Full Article
UPDATE 1-South Korea to pull all workers from industrial zone in North
SEOUL, April 26 - South Korea will pull out all remaining workers from a jointly run industrial zone in North Korea, it said on Friday, after Pyongyang rejected a call for formal talks to end a standoff that led to operations being suspended.
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