North American Palladium Ltd. reported consolidated earnings results for the third quarter ended September 30, 2017. For the quarter, the company reported adjusted EBITDA for the third quarter was USD 22.0 million, compared to USD 10.1 million for the same period in 2016. Net income for the quarter was USD 11.0 million or USD 0.19 per share, compared to a loss of USD 1.6 million or USD 0.03 per share in 2016. Revenue for the quarter ended September 30, 2017 was USD 70.7 million compared to USD 48.5 million in the third quarter of 2016. The higher revenue in the quarter was primarily due to an increase in payable palladium sold. Quarterly palladium revenues were generated on sales of 52,709 ounces, compared with sales of 33,540 ounces in the comparable period in 2016. Sustaining capital expenditures in the third quarter was USD 10.9 compared to USD 3.8 in 2016.

For the quarter, the company reported underground production was 500,560 tonnes (5,441 tonnes per day) at an average grade of 3.8 grams per tonne, an increase of 44% compared to 348,709 tonnes (3,790 tonnes per day) at an average grade of 3.3 grams per tonne in the third quarter of 2016. Underground mining cost per tonne delivered to the mill in the third quarter decreased to a low of USD 39.68 compared to USD 44.43 in the same period in 2016. The company produced 53,118 ounces of payable palladium at an All-Inclusive Sustaining Cost1 ("AISC") of USD 720 per ounce compared to 33,165 ounces of palladium in 2016 at an AISC of USD 784.

For the nine months, the company reported payable production for the nine months ended September 30, 2017 was 143,592 ounces.

For the year 2017, the company expects palladium production between 180,000 and 190,000 ounces of palladium at an average AISC cost of USD 700 - USD 720 per ounce remains unchanged. Payable production for the nine months ended September 30, 2017 was 143,592 ounces.

For the year 2017, the company expects cash flows from operations will be sufficient to fund capital expenditures, service debt and to repay the principle amount of USD 15 million due on December 31, 2017 under the company's term loan.