North American Palladium Ltd. (fka PALDF)

[PennyStockInvestor]

Raymond James: Underperform rating and $0.30 target

According to Raymond James:

North American Palladium Ltd.

April 15, 2014

Revised LDI Mine Plan Highlights Limited Mine Life

Recommendation

We reiterate our Underperform rating and target price of $0.30 on PDL, as we highlight the extremely dilutive nature of the latest two convertible debt financings. Although PDL filed an updated LOM plan at LDI, it highlighted some of our key concerns for the company, such as limited mine life (without further material capital infusion and mine development), aggressive nature of the previously announced 2014 operating guidance, and (perhaps the most important of them all) the presence of prohibitively-high-cost Brookfield debt that hangs like the “Sword of Damocles” over the PDL shareholders.

http://www.stockhouse.com/companies/bullboard/t.pdl/north-american-palladium-ltd?postid=22453903