North American Palladium(AMEX:PAL)- PGM Producer Message Board

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Gold/Mining/Energy : North American Palladium(AMEX:PAL)- PGM Producer

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To: russet who wrote (964)	1/17/2002 7:16:03 PM
From: Elizabeth Andrews	Read Replies (1) of 976

Bad reporting by the Globe. As of Sept 30-01, the latest data available, the company has C$142 million in project debt but they could easily pay it off if they wanted. Off the balance sheet, Note 7, says they have a US$58.5 unrealized gain in their palladium hedge position. In addition, they have C$95 million net working capital. So they could pay off the project debt and still have C$50 million in cash. The problem is that the mill is not working up to forecasts. A third of the metal is going to the tailings pond and the cost per ounce is C$50 higher than forecast.

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