Precious metals such as palladium have been in great demand for the past five years, and thus there have been strong pushes for production increases. This year, palladium production by North American Palladium is expected to be 290,000 ounces, which includes production from their underground mine.
This year the company is allocating $15 million towards its mining operations. A considerable portion of these funds will be applied towards a research operation they are conducting in Finland, to scope out the possibility of an opening of a mining project. Another portion of this funding will go towards its current mining operations in a mine called Lac des Iles, and towards the mining of nickel and copper in this mine, as the demand of these metals has been increasing.
[...] It is essential that employees do not put themselves in situations where their personal interests interfere with their obgliations to NAP. Employees and management are not allowed to trade the company's stock on insider information. The diagram below is a visual representation of the NAP's whistleblower process. It is evident that the company takes these matters very seriously, as they have drawn out a very detailed schematic of this process. There is a commonality between the process in performing whistleblowing when an employee is involved and when a member of management is involved. [...]
[...] This business is almost directly related to the prices of the metals that are excavated in its operations. Though it is highly leveraged to commodity prices, currently they are not utilizing any hedging instruments on its metal products. Investments and Liquidity NAP used million in the third quarter of 2006 towards development of the underground mine, and the building and maintenance of the tailings management facilities. This is about a million decrease from the third quarter of 2005. On the 29th of March of 2006, NAP closed Series I private placement convertible notes that provided them $35 million. [...]
[...] The philosophy is simple: Be rational and keep the psychology at the therapist's office: there is no place for it in the professional environment and it is completely replaced by rationality and logical and analytical thinking. If it is necessary, then debt will be taken on to be able to pay for new equipment and research and development costs of finding new and more efficient ways to mine and process the metals. Management Strategy Because of the surge in demand, the current strategy is to produce as much as possible at virtually any cost. [...]
[...] Cash flow for 2006 is continuing its positive growth with $11 million in the first quarter, as compared to $ 6.9 million in the same quarter of 2005. The operating cash flow before exploration expenses has also increased by some $50 million over just a period of one year. Even though the cost of goods sold has been increasing due to the demand of these materials, the net sales have been increasing at a faster pace. In 2006, the total revenue has grown to $ 159.2 million from about $92 million from the previous year. [...]
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