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North American Palladium posts $8M profit in turnaround quarter



VANCOUVER — North American Palladium (TSX: PDL; US-OTC: PALDF) has marked its first profitable quarter since mid-2015, thanks to surging palladium prices and increased production at its Lac des Iles underground palladium mine near Thunder Bay, Ont.

The company recorded a $7.9 million net income for the three months ending June 30, compared to a loss of $9.9 million in the comparable quarter last year.

North American Palladium president and CEO Jim Gallagher said during a conference call that the results reflect the company’s turnaround efforts since its financial and operational restructuring began two years ago.

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