North American Palladium (PAL) +16.6% AH after releasing its 2014 production guidance along with capital expenditure and exploration forecasts for its Lac des Iles palladium mine.
PAL continues to estimate 2013 LDI payable palladium production totaling ~135K oz. and is targeting 2014 output of 170K-175K oz.; underground mining is expected to average ~3K metric tons/day for H1 2014 and rise to 5K by year-end.
Capital investment and exploration budgets are significantly reduced to ~$30M and $4M, respectively.