Northern Dynasty Minerals, Ltd. - NAK STOCK NEWS

Northern Dynasty Minerals (TSX:NDM)(NYSE American:NAK) has received the remaining $10 million royalty payment under the second tranche of its amended Royalty Agreement. This completes the $12 million second tranche, with the first $2 million received upon execution of the Amendment in November 2023. The completion extends the balance of the Royalty Agreement until July 26, 2025.

The Royalty Holder now has the right to receive approximately 2% of payable gold production and 6% of payable silver production from the Pebble Project. The remaining three tranches of $12 million each are still available, potentially providing an additional $36 million investment. The total purchase price remains at $60 million, with maximum royalty rates of 10% for gold and 30% for silver production.

Northern Dynasty Minerals announced the results of its 2024 Annual General Meeting held on June 27, 2024. A total of 242,392,823 common shares were voted, representing 45.08% of all outstanding shares. All eight director nominees were elected, with Christian Milau receiving the highest approval at 97.05%. Deloitte was appointed as auditor with 87.12% approval.

The 2024 Share Option Plan was not approved, with 51.80% against the resolution. However, the 2024 Non-Employee Directors Deferred Share Unit Plan and the 2024 Restricted Share Unit Plan were approved with 77.85% and 77.93% votes in favor, respectively.

Non-votes were recorded on each resolution, largely due to discretionary votes given to brokers by US beneficial holders, which are not allowed under Canadian Securities Regulations.

Northern Dynasty Minerals reports that Iliamna Natives (INL) and Alaska Peninsula (APC), representing communities near the Pebble Project, have filed a lawsuit against the Environmental Protection Agency (EPA). The corporations allege that the EPA exceeded its authority in vetoing the Pebble Project.

John Shively, CEO of Pebble Partnership, highlighted the potential benefits of the Pebble Project, including job creation, economic activity, and reduced living costs for local communities. According to Shively, the EPA has disregarded local community views, leading to increased outmigration and higher living costs.

Ron Thiessen, President and CEO of Northern Dynasty, expressed support for the lawsuit, arguing that the EPA's veto deprives local communities of economic opportunities and a brighter future.

Northern Dynasty Minerals and its subsidiary Pebble Partnership have filed a motion to amend their existing complaint against the Environmental Protection Agency (EPA) to include the U.S. Army Corps of Engineers (USACE) as a defendant. The motion, filed in the federal district court in Alaska, seeks to reverse USACE's permit denial for the Pebble Project mine development, arguing the denial was politically motivated and not based on factual records, including the Final Environmental Impact Statement (FEIS). The amended complaint follows USACE's refusal to reconsider the permit denial despite an administrative appeal, emphasizing that both the EPA and USACE decisions were not supported by environmental analysis and should be overturned by the court.

Northern Dynasty Minerals announces the filing of its audited Financial Statements, Management Discussion and Analysis, Annual Information Form, and Annual Report on Form 40F for the year ending December 31, 2023. The audited consolidated financial statements included an audit report with a going concern emphasis of matter. The release of this information is required by Section 610(b) of the NYSE American Company Guide.

Northern Dynasty Minerals and its subsidiary, Pebble Partnership, have been informed by the US Army Corps of Engineers that they will not engage in the remand process related to the denial of a permit application for the Pebble Project due to the EPA's veto. The company is appealing the EPA veto in Federal District Court in Alaska, with the State of Alaska also taking action against the veto. The USACE decision not to engage in the remand process has strengthened the company's legal case against the EPA veto.

Northern Dynasty Minerals and its subsidiary Pebble Partnership are challenging the EPA's veto of a development project in Alaska. The State of Alaska has filed a lawsuit to vacate the EPA's decision, citing it as unlawful. Northern Dynasty previously filed two separate actions against the EPA, one to challenge the veto and another for a takings case.

Northern Dynasty Minerals and its subsidiary Pebble Partnership are challenging the federal government's actions to prevent the construction of a mine at the Pebble Project. The company is filing two separate legal actions to overturn the EPA's veto and claim compensation for an alleged 'taking' of their property. Northern Dynasty is confident in the court's decision to vacate the EPA's veto, citing violations of federal statutes and an arbitrary decision. The company's priority is to advance the District Federal Court Complaint to remove obstacles in obtaining permits for the mine. The potential damages for the 'taking' of the world's largest undeveloped copper deposit could be substantial.

Northern Dynasty Minerals Ltd. provides additional commentary on the recent United States Supreme Court decision to not allow Alaska to bypass the typical court review process as it works to overturn the Environmental Protection Agency's illegal veto of the Pebble Project lands. The decision is purely procedural and does not imply the Supreme Court's agreement or disagreement with the case's merits. The next step is to proceed with a filing in the federal district court. Alaska Governor Mike Dunleavy expresses disappointment with the decision but remains confident that the lower courts will find the EPA violated the law. The company is completing the necessary steps to initiate its case in the federal district court, arguing that the veto is illegal and arbitrary. Northern Dynasty President and CEO, Ron Thiessen, expresses confidence in the company's arguments and looks forward to finally getting their day in court.