Welcome to our dedicated page for Northern Dynasty Minerals, Ltd. news (Ticker: NAK), a resource for investors and traders seeking the latest updates and insights on Northern Dynasty Minerals, Ltd. stock.
Northern Dynasty Minerals Ltd. (TSX:NDM)(NYSE American:NAK) is a Canadian mineral exploration and development company headquartered in Vancouver, BC. The company's primary asset is the Pebble Project, located in Southwest Alaska. This significant endeavor focuses on developing a vast deposit rich in copper, gold, molybdenum, and silver into a modern mining operation.
The Pebble Project aims to harness these valuable mineral resources, located approximately 200 miles from Anchorage and 125 miles from Bristol Bay, through its wholly-owned Alaska-based subsidiary, the Pebble Limited Partnership (PLP). This project holds 1,840 mineral claims and represents a major opportunity for economic growth, job creation, and securing critical minerals essential for technological advancements and national security.
Northern Dynasty has recently faced legal and regulatory challenges, including an EPA veto and the subsequent denial of a permit application by the U.S. Army Corps of Engineers (USACE). Despite these setbacks, the company remains committed to overturning these decisions through extensive legal actions. The company argues that the EPA's veto and the USACE's denial were politically motivated and contrary to the scientific findings of the Final Environmental Impact Statement (FEIS).
In financial news, Northern Dynasty recently closed a convertible notes offering, raising an aggregate principal amount of US$15,000,000, and a non-brokered private placement, garnering CAD$3,422,000. These funds are earmarked for advancing the Pebble Project responsibly.
For more detailed and up-to-date information, investors can visit the company's website or review public filings available on SEDAR and SEC.
Northern Dynasty Minerals (NAK) has submitted comments opposing the EPA's veto of the Pebble Project, claiming it lacks legal and technical justification. CEO John Shively criticized the EPA for preemptively vetoing a vast area, arguing it represents a regulatory overreach. The Pebble Partnership asserts that development could benefit Alaska's economy and job market significantly, asserting that the EPA dismisses these benefits. The company warns that finalizing the veto could lead to legal challenges and violations of state and federal rights.
Northern Dynasty Minerals Ltd. (NYSE American: NAK) has entered a $60 million royalty agreement for future gold and silver production from the Pebble Project. An initial $12 million payment has been received. The Royalty Holder will gain 2% of gold and 6% of silver output, with conditions for future investments to increase their share. The financing aims to bolster liquidity without equity dilution during challenging market conditions, allowing continued legal and development efforts in Alaska.
Northern Dynasty Minerals Ltd. (NYSE American: NAK) has completed its 2022 summer work program through its subsidiary, Pebble Limited Partnership. The six-week program focused on site maintenance and the permanent closure of certain drill holes after hydrology data collection. All field crew members were local residents. The company expressed gratitude for their work and for those combating record-breaking wildfires affecting Alaska. A cleanup plan is underway for a storage site damaged by the fires, which occurred amid unprecedented dry conditions in the region.
Northern Dynasty Minerals Ltd. announced the results of its 2022 Annual General Meeting held on June 23, 2022, where 215,554,654 common shares were voted, representing 40.69% of total shares. All nine board nominees were elected, with Desmond Balakrishnan receiving 55.39% of votes for and 44.61% withheld. Other directors, such as Steven Decker and Ronald Thiessen, received 75.76% and 76.14%, respectively. Additionally, shareholders re-appointed Deloitte LLP as auditors and approved a Shareholder Rights Plan. Detailed results available on SEDAR.
Northern Dynasty Minerals (TSX:NDM, NYSE American:NAK) announced its inclusion in the new Battery Metals Index on the Toronto Stock Exchange on June 7, 2022. This index focuses on companies involved in the production and exploration of essential battery metals such as Copper, Lithium, and Nickel. CEO Ron Thiessen emphasized the critical need for new copper sources in the U.S. and Canada, highlighting the Pebble Project as the world's largest undeveloped copper project. The announcement signals a pivotal step towards addressing future copper supply shortages necessary for advancing green energy technologies.
Northern Dynasty Minerals Ltd. (NYSE American: NAK) announced that its CEO, John Shively, reacted to the U.S. EPA's intent to veto the Pebble Project, calling the move a setback for climate goals. Shively criticized the government's conflicting approaches to renewable energy and mining, asserting that the Pebble Project can operate without harming local fisheries, as confirmed by a 2020 Environmental Impact Statement. He emphasized the economic benefits the project could bring to local communities and stressed the need for a thorough review of the proposed veto, which involves multiple steps before finalization.
Northern Dynasty Minerals Ltd. announced that Mark Rebagliati, Executive VP of Hunter Dickinson Inc., received the 2022 J.C. Sproule Northern Exploration Award from the Canadian Institute of Mining. The award ceremony was held on May 2, 2022. Rebagliati has significantly contributed to the discovery and advancement of several major deposits in Canada and internationally, showcasing his expertise in mineral exploration. Northern Dynasty focuses on developing its principal asset, the Pebble Project in Alaska, which is vital for mineral resources.
Northern Dynasty Minerals Ltd. (NYSE American: NAK) announced its 2022 field program for the Pebble Project in Alaska, focusing on environmental sustainability. Scheduled from mid-May to June, activities include site maintenance, equipment demobilization, and drill hole closures. Local hiring is prioritized, aiming to enhance community employment. The project, if permitted, could create approximately 12,500 jobs during initial capital and 13,000 during operations, contributing an estimated $262 million in annual state taxes and $720 million to Alaska's GDP.
Northern Dynasty Minerals Ltd. (NYSE American: NAK) filed its audited financial statements, management discussion, and annual report for the fiscal year ending December 31, 2021. The report includes a going concern emphasis from its independent auditor, which is standard in such filings. This report does not amend previous filings. The company's main asset is the Pebble deposit in Alaska, a significant mineral resource project. For further details, visit the company's website or contact Investor services.
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