Palladium miner finishes recapitalization.

North American Palladium (NAP) announced Aug. 6 that it has completed its recapitalization program with Brookfield Capital.

NAP operates the Lac des lies mine, northwest of Thunder Bay, one of two primary producers of palladium in the world.

"The recapitalization is a major step toward normalizing NAP's capital structure and enhancing liquidity," said Phil du Toit, NAP president-CEO. "We believe we are now well-positioned to pursue the longer term potential at our Lac des lies mine."

The program received support at the annual meeting of shareholders held on July 30 and received approval from the Ontario Superior Court of Justice on Aug. 5.

Back in April, the mining company entered into an agreement with Brookfield aimed to reducing its debt, boost its liquidity and conduct a strategic review process to scope out...