PGM producer North American Palladium (NAP) has announced strong results for its third quarter production levels.

The company has revealed that its production of palladium jumped by 51 per cent compared to the same period in 2005, delivering 59,756 ounces of the precious metal at its Lac des Iles project.

By-product metal production at the mine was also up, with platinum production reaching 5,612 ounces.

Furthermore, the company stated that its underground operations been achieving consistency since the commencement of full production in April, with an average daily production of 2,189 tonnes, at a palladium head grade of 5.98 g/t.

Over the course of the first nine months of 2006, to September 31st, NAP increased its palladium output by 17 per cent compared to the previous year, while the average recovery rate during this time has grown from 69.1 per cent last year to 72.8 per cent.

Ÿ Adfero Ltd