The good news is that the trend seems ready to change. With the underground lift now working well, PAL was able to produce approximately 3,800 tonnes per day of ore in September and October from its underground mines. Since it published a figure of 3,313 tonnes per day for September 2014 in its Q3 report, one might infer that October 2014 production from underground was approximately 4,300 tonnes per day given the average cited of 3,800 tonnes per day for September and October. This was up significantly from the 2,900 tonnes per day of ore for Q2 2014. Part of the explanation was that PAL went to a full time mill beginning in October 2014. This did away with the bottleneck the two week batch process had been creating.
PAL is aiming for 5000 tonnes of production per day from underground mining by 2014E. PAL has already seen 4,500 tonnes per day from the underground mines on good days in the September - October period. It is optimistic it can reach its 5,000 tonnes per day goal by the end of 2014. Even at an apparent 4,300 tonnes per day from its underground mines, it should see much higher palladium production in Q4 2014 than in Q2 2014. Indeed the company has already stated that it produced approximately 20,000 oz. of palladium in October 2014 alone, although it says that some of this was a stockpile from the end of September.
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