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North American Palladium is winning fans for plans to add gold production from its current corporate focus on from all-palladium, all the time.

The junior mining company picked up a new gold property in Quebec earlier this week from Agnico-Eagle Mines. That project was added to two existing properties that produce palladium , a metal that's only of value to automakers.

On Thursday, North American Palladium filled its coffers by staging a bought deal financing that was bumped up to $87-million from $75-million in the face of strong demand.

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Cormark Securities and Haywood Securities, employee-owned dealers, led the financing. It's the latest in a string of stock sales from small-cap resource companies.

North American Palladium sold units for $5 each that consist of a common share and half a warrant. One full warrant gives the holder the right to buy a share for $6.50.

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About the Author
Business Columnist

Andrew Willis is a business columnist for the Report on Business at The Globe and Mail, based in Toronto.He has been in business communications and journalism for three decades. More

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