Northern Dynasty Minerals Ltd (NYSEAMERICAN: NAK) is having a strong start in the pre-market hours this morning, and for good reason. The company announced news with regard to permits, leading to excitement among investors and sending the stock toward the top. Below, we’ll talk about the news, what we’re seeing from NAK, and what we’ll be watching for ahead.
NAK Announces Permit News
For Northern Dynasty Minerals, the big word for the past few years has been permit. The company has fought the EPA in order to even be able to apply for permits associated with the Pebble Project. However, after coming to a settlement, a clear path was laid out for NAK to be able to apply.
Today, the company announced that the Pebble Limited Partnership has finalized documentation and will file for a US Clean Water Act 404 permit with the United States Army Corps of Engineers. The permit application will be submitted on Friday, December 22. Ultimately, this initiates the federal and state permitting process for the Pebble Project under the National Environmental Policy Act. In a statement, Ron Thiessen, CEO at NAK, had the following to offer:
“At the outset of 2017, we established three ambitious corporate objectives for Northern Dynasty and the Pebble Project… We committed to reaching a resolution with the US Environmental Protection Agency, to restore the Pebble Project to normal course permitting, to re-partner on the Pebble Project and to initiating permitting under NEPA. As we approach the end of the year, I’m proud to report that we will hit our mark on all three important milestones.”
The above statement was followed up by Tom Collier, CEO at the NAK subsidiary Pebble Partnership. Here’s what Collier has to offer:
“We are very pleased to move the Pebble Project forward to the next important phase by initiating the NEPA permitting process this year, as we committed to do.
The project design we’re taking into permitting includes a substantially reduced development footprint and meaningful new environmental safeguards that respond directly to the priorities and concerns we’ve heard from stakeholders in Alaska. Not only are we confident that Pebble as currently envisaged will secure development permits from federal, state and local regulatory agencies, we are confident it will co-exist with the world class fisheries of Bristol Bay and earn the support of the people of the region and state.”
What We’re Seeing From The Stock
As investors, one of the first things that we learn is that the news moves the market. When positive news is released with regard to a publicly-traded company, we can expect to see gains in the value of the stock that’s representative of that company. That’s exactly what we’re seeing this morning following the strong news out of Northern Dynasty Minerals. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:29), NAK is trading at $1.85 per share after a gain of $0.13 per share (7.56%) thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to follow the story surrounding NAK. In particular, we’re interested in following the permitting process and hopeful that we will see approval to get the project up and running relatively soon. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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