Exhibit 5.2



                  CONSENT OF INDEPENDENT CHARTERED ACCOUNTANTS

We consent to the incorporation by reference in this Registration Statement on
Form F-10 (the "Registration Statement") of our Audit Report dated February 20,
2004, relating to the consolidated balance sheets of North American Palladium
Ltd. as at December 31, 2003 and 2002, and the consolidated statements of
operations and deficit and cash flows for each of the years in the three year
period ended December 31, 2003 and to the reference to us under the heading
"Experts" in the prospectus, which is part of this Registration Statement.



                                                        /s/ ERNST & YOUNG LLP
Toronto, Ontario
April 6, 2004                                           Ernst & Young LLP
                                                        Chartered Accountants