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North American Palladium Limited ┼×irket Message Board

  • brokenman7777 brokenman7777 Sep 5, 2008 10:58 AM Flag

    PAL losing money?

    How much money is Pal losing everyday at these metal prices?

    Is it possible to put the mine on care and maintenance only and restart it later?

    It seems foolish to sell palladium for less then $600. Better to leave it in the ground until it is more appreciated.

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    • i am losing money

      in at $7


    • No!
      - Cash cost per ounce of palladium produced(1), net of by-product metal revenues and royalties, was US$219 for the second quarter of 2008 compared to US$242 for the same period last year.

    • Tougth to cover capital cost and fixed costs that way. Also, you can not afford to lose experienced miners during the shut down - too many jobs in Canada at this time.

      • 2 Replies to mknapton1
      • Your spot on about the miners being hard to replace...

        I think the savings on overhead should come from a cut in management costs and there is certainly no shortage of them in Canada...

      • Absolutely agree to both of you. Folks need to call PAL's IR, specifically Linda, but other folks, too. They are pretty accessible through the phone. Call them and put pressure on them to do things that's in the best interest of shareholders.

        My opinion is production does not need to be stopped. But selling of produced palladium at current market price MUST be suspended for now. It absolutely makes no sense. More over, the company should utilize the CASH to actively purchase and hoard physical palladium metal from the spot market.

        The rationale is the cash was meant to be used to develope new mining projects. That purpose of money usage is no longer legitimate as long as the metals stay at current level so you might as well invest the money in the metals themselves.

        I am calling it a novel mining project to produce and mine the ABOVE GROUND palladium mine, i.e., metals available in the spot market and from Switzerland. It is a way much cheaper and cost efficient "mine" to produce, at current low spot price, than trying to dig the underground hardrock mine!