Any thoughts on PAL?

[nickel_buck_fifty]

Just found PAL, no postion, just looking.

If this post shows up twice my bad, had an internet connection glitch.:x

2687

[chinaman711]

PAL has had a great run, we have been playing it in the chat room and l/t looks good imo. Nice read on palladium--Three weeks ago I posted the first part of a series of articles discussing the importance of making long term investment decisions based on the fact that we are living in a resource constrained world, due to rapid depletion of many non-renewable natural resources. If you look at the hot sectors in recent years, most of those that were "hot" are related to depleting natural resources one way or another. That includes oil, natural gas, coal, base metals, and precious metals. And of course, relating to the depletion of fossil fuels, the development of alternative energy is booming and the stocks are hot.

Palladium has been my most favorite metal. I have previously discussed the unusual characteristics of palladium. It is the only metal that defied the well established over-supply condition, with price rallied higher in the last 5 years, proving all metal analysts wrong in their bearish predictions. That surprising fact alone should catch people's attention, and encourage them to study what's unusual about this metal. I see booming demands of palladium from auto catalyst converters, jewelry, fuel cell, catalyst in biofuel synthesize and oil refinery, and misc. applications. Most astonishingly, palladium could be used in cold fusion and bring about a perfect solution to our current energy crisis. With even the authoritative American Physical Society [APS] now publicly endorsing cold fusion as a real science, by sponsoring cold fusion conferences, who is to say cold fusion is not proven? A Russian scientist already promised to demo a 100KW working device by August, 2008. We will soon see if he keeps his promise. If cold fusion becomes a commercial reality, I predict palladium price could reach 100 to 1000 times more expensive than gold.

There are two recent shocking developments in the PGM (platinum group metals) market. One is widely publicized, the other is hardly noticed by any one. Both are extremely bullish for platinum and palladium, and therefore bullish for the only two primary palladium producers in the whole world, PAL and SWC.

[chinaman711]

The rest of the story---http://seekingalpha.com/article/63529-investing-in-a-resource-constrained-world-part-ii

[nickel_buck_fifty]

Thanks for the info. I will keep watching to see what happens.

I wish I could get in the chat room when I am at the office. I have been in a few times when I am at the house. Still trying to learn all I can and the chat room seems to be a good place for that.

[wallstreetsedge]

its still in bad territory.. i would short it if you could find some to borrow

i wouldnt be surprised seeing it pull back under 5

[freakscene]

nice 5% gain today.

[microhedge]

its still in bad territory.. i would short it if you could find some to borrow

i wouldnt be surprised seeing it pull back under 5

:frown:

[freakscene]

nice rebound so far from yesterday's dip

[freakscene]

keep on trucking PAL !

[microhedge]

to all who took wallstreetsedge's advice... I am horribly sorry.

For those who played it like you should have... congrats!

My friend, my buddy, my PAL!!

Look for more action on Tuesday:mrgreen:

[freakscene]

!!

Look for more action on Tuesday:mrgreen:

nice gap up. :)

i wished i knew how to interpret the different types of gaps.

and do they report earnings next week?

[nickel_buck_fifty]

Have we ran up to quick? Time for a pullback?

Wild ride today, thats for sure.

Thanks,
Nickel

[Chart Robot]

nice gap up. :)

i wished i knew how to interpret the different types of gaps.

and do they report earnings next week?

The theory is that it will pull back to "fill the gap" between 6.50 and 7.50.

2720

[dadooh27]

Just a quick heads up for anyone playing this stock. PAL is due to report earnings for Q4 2007 tomorrow March 19th AMC. Thought it would have had more positive action today but perhaps tomorrow is our turn.

Best of Luck,

Dadooh

[dadooh27]

This was extremely long so if you would like to view all of the report you can see it at http://biz.yahoo.com/iw/080319/0377541.html


Here's to a better tomorrow,

Dadooh

This news release contains forward-looking statements. Reference should be made to the cautionary statement on forward-looking information at the end of this news release.

Highlights of 2007

- Revenue for the year increased by $36.7 million to $195.9 million, up 23% versus 2006.

- Operating cash flow for the year (before changes in non-cash working capital(1) improved by $36.9 million to $46.8 million compared to operating cash flow of $9.9 million in 2006.

- The net loss for the year ended December 31, 2007 was $28.7 million or $0.51 per share compared to a net loss of $34.1 million or $0.65 per share in 2006. The net loss for the year includes a net negative impact of $19.0 million (2006 - net negative impact $3.7 million) due to foreign exchange gains and losses.

- Palladium production increased by 21% to 286,334 ounces for the year ending December 31, 2007 versus production of 237,338 ounces the previous year.

- Palladium represented 47% of the year's total revenues while platinum and nickel contributed 16% and 22% respectively.

- Total by-product revenues for the year increased by 25% to $104.1 million versus $83.6 million in 2006.

- Cash cost per ounce of palladium produced(1), net of by-product metal revenues and royalties, was US$164 in 2007 compared to US$201 last year.

- North American Palladium completed an equity offering that resulted in total gross proceeds to the Company of approximately US$86 million,

which will be used to advance its three platinum group metals (PGM) and nickel-copper projects.

(1) Non-GAAP measure. Reference should be made to footnote 1 at the end of this Press Release.

North American Palladium Ltd. announced today financial results for the fourth quarter and year ended December 31, 2007.

Revenue, after pricing adjustments, in the fourth quarter of 2007 was $46.5 million, lower than the fourth quarter of 2006 by $4.3 million due mainly to the negative foreign exchange impact from the continued strengthening of the Canadian dollar versus the US dollar. For the year ended December 31, 2007, revenue after pricing adjustments was $195.9 million, an increase of $36.7 million or 23%, compared to revenue of $159.2 million last year.

Palladium production for the quarter ended December 31, 2007 of 71,595 ounces was down slightly (2%) compared to 73,242 ounces the previous year and reflects increased scheduled maintenance downtime in the fourth quarter of 2007. Palladium production for the year ended December 31, 2007 increased to 286,334 ounces, up 21% compared to the previous year.

Palladium sales in the fourth quarter of 2007 were recorded at an average price of US$364 per ounce versus an average price of US$322 in the same period in 2006. For the year ended December 31, 2007 palladium sales were recorded at an average price of US$356 per ounce, up 12%, compared to US$319 in 2006.

For the quarter ended December 31, 2007, cash cost per ounce(1) of palladium, net of by-product metal revenues, was US$223 per ounce versus US$108 in the same period last year and reflects primarily the negative impact of the strengthening Canadian dollar on by-product metal revenue. For the year ended December 31, 2007 the cash cost per ounce(1) of palladium produced declined to US$164 per ounce compared with US$201 per ounce in 2006, reflecting the increase in production together with continued strength in by-product metal prices, partially offset by the strengthening Canadian dollar.

The Company recognized a loss from mining operations of $8.2 million in the fourth quarter of 2007 compared to income of $0.5 million in the same period last year. The loss is due to lower revenue of $4.3 million, which includes a negative foreign exchange impact of $7.2 million, and increased operating costs due primarily to increased production costs ($1.0 million), smelting, refining and freight costs ($1.5 million) and amortization charges ($0.9 million). The loss from mining operations for the year ended December 31, 2007 was $19.4 million, an increase of $1.3 million (7%), compared to the loss of $18.1 million last year.

The net loss for the quarter ended December 31, 2007 was $11.1 million or $0.19 per share compared to a loss of $7.4 million or $0.14 per share in the same period last year. For the year ended December 31, 2007, the Company decreased its net loss to $28.7 million ($0.51 per share) from the 2006 loss of $34.1 million ($0.65 per share) despite a negative foreign exchange impact of $19.0 million (2006 negative impact of $3.7 million) due to strengthening of the Canadian dollar versus the US dollar.

Operating cash flow for the year (before changes in non-cash working capital(1) improved by $36.9 million to $46.8 million compared to operating cash flow of $9.9 million in 2006.

(1) Non-GAAP measure. Reference should be made to footnote 1 at the end of this Press Release.

Mr. Jim Excell, President and Chief Executive Officer said, "The consistent and improved production results are gratifying and supports our drive toward strengthening the Company's financial position. Having raised US$86 million in a recent financing, we are well-positioned to aggressively advance the Shebandowan West and the Offset High Grade Zone projects in Ontario, as well as the Arctic Platinum Project in Finland, towards production decisions." Mr. Excell added, "Since December 31, 2007 we have seen a significant increase in PGM prices, highlighting increased demand and growing supply concerns in South Africa. If the prevailing metal prices are sustained, it can have a very positive impact on the Company's 2008 financial performance."

Outlook

Palladium production is expected to increase by approximately 5% for the year ended December 31, 2008 with an estimated total production of approximately 300,000 ounces. The proportion of by-product metals produced is, in aggregate, expected to increase in tandem with palladium production.

A key strategy moving forward will be to continue the pursuit of opportunities to acquire good quality PGM-Ni-Cu projects. The Company's ambitious exploration program will continue in 2008, with an important component being the completion of a feasibility study for the Arctic Platinum Project in Finland. In addition, a preliminary economic assessment of the Offset High Grade Zone at Lac des Iles is nearing completion and the Company anticipates releasing the results during the second quarter of 2008. A preliminary economic assessment of the Shebandowan West Project is also anticipated in the second quarter of 2008 which evaluates a ramp-accessed underground mine scenario. Discussions are currently underway with Vale-Inco about the next steps for the Shebandowan joint venture.

Further information about the 2007 year-end results are available in the Company's financial statements and MD&A, which will be filed on its website, with Canadian provincial securities authorities (www.sedar.com) and with the U.S. Securities and Exchange Commission (www.sec.gov).

Conference Call and Webcast

The Company will host its fourth quarter and year-end 2007 Conference Call and Webcast at 3:00 pm ET on Thursday March 20, 2008. The toll-free conference call dial-in number is 1-866- 226-1799 and the local and overseas dial-in number is 416-641-6125. The conference call will be simultaneously webcast and archived at www.napalladium.com in the Investor Centre under Conference Calls. The webcast will also be available at www.vcall.com/IC/CEPage.asp?ID=126220. A replay of the conference call will be available until April 3, 2008: toll-free at 1-800-408-3053; locally and overseas at 416-695-5800, access code #3253315.


Certain information included in this press release, including any information as to our future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. The words 'expect', 'believe', 'will', 'intend', 'estimate' and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These statements are based on certain factors and assumptions, including but not limited to, the assumption that market fundamentals will result in increased palladium demand and prices and sustained by-product metal demand and prices; the integrated operation of the Company's underground mine and the open pit mine remain viable operationally and economically; financing is available on reasonable terms; expectations for blended mill feed head grade and mill performance will proceed as expected; new mine plan scenarios will be viable operationally and economically; and plans for mill production, sustainable recoveries from the Lac des Iles mine, exploration at Lac des Iles and elsewhere will all proceed as expected.

The Company cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of North American Palladium to be materially different from the Company's estimated future results, performance or achievements expressed or implied by those forward-looking statements and that the forward-looking statements are not guarantees of future performance. These risks, uncertainties and other factors include, but are not limited to: metal price volatility; economic and political events affecting metal supply and demand; changes in the regulatory environment; fluctuations in ore grade or ore tonnes milled; geological, technical, mining or processing problems; future production; changes in the life-of-mine plan or the ultimate pit design; availability and increasing costs associated with mining inputs and labour; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of mineral reserves; adverse changes in our credit rating; and the risks involved in the exploration, development and mining business. These factors are discussed in greater detail in the Company's most recent Form 40-F/Annual Information Form on file with the U.S. Securities and Exchange Commission and Canadian provincial securities regulatory authorities. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise. Readers are cautioned not to put undue reliance on these forward-looking statements.



North American Palladium Ltd.
Consolidated Balance Sheets
(expressed in thousands of Canadian dollars)