EXHIBIT 5.4



October 23, 2006

VIA EDGAR

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

RE:  NORTH AMERICAN PALLADIUM LTD. (THE "CORPORATION")
     AMENDMENT NO. 1 TO REGISTRATION STATEMENT ON FORM F-10, DATED OCTOBER 23,
     2006

In connection with the Corporation's Amendment No. 1 to Registration Statement
on Form F-10, dated October 23, 2006, and any amendments thereto and any
registration statements filed pursuant to Rule 429 under the United Sates
Securities Act of 1933, as amended (the "Registration Statement"), I Graham G.
Clow, hereby consent to the use of my name in connection with references to my
involvement in the preparation of the Corporation's open pit and underground
reserve and resource estimate as at December 31, 2005 (the "Reserve and Resource
Estimate") and to references to the Reserve and Resource Estimate, or portions
thereof, which have been incorporated by reference in the Registration
Statement.

I also certify that I have read the Registration Statement and I do not have any
reason to believe that there are any misrepresentations in the information
contained in it or documents incorporated therein by reference that are derived
from the Reserve and Resource Estimate, or that are within my knowledge as a
result of the services that I performed in connection with the preparation of
the Reserve and Resource Estimate.



Yours truly,



/s/ Graham G. Clow
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Graham G. Clow