Northern Dynasty Minerals Ltd (NAK) is likely to have yet another strong day in the market today after a great trading session yesterday. News is breaking that the Army Corps of Engineers is taking the next steps toward its report with regard to the Pebble Project, and if I know NAK investors, chances are that excitement will be brewing today. Below, we’ll talk about the news, what we’re seeing from the stock, and what we’ll be watching for with regard to NAK ahead.
NAK Gains On Army Corps Of Engineers News
If you’ve been following Northern Dynasty Minerals for just about any length of time, you know how much of an important role the Army Corps of Engineers play in the company. At the end of the day, it’s all about the Pebble Project. In order for this project to get off the ground, the Army Corps of Engineers must green light it, stating that it will have no negative environmental impact.
Recently, NAK got great news when the Army Corps of Engineers announced that it would be moving forward with its part in the Pebble Project. In fact, the Corps released a timeline of where it will be holding public scoping meetings to get the community’s input on the project. These meetings will be held from April 9 to April 19, 2018, in seven different communities that the Pebble Project could have an effect on. From there, the Corps is expecting to release its draft of the environmental impact statement in January of 2019. In a statement, Shane McCoy, Pebble Project Program Manager for the U.S. Army Corps of Engineers regulatory program, had the following to say about the project NAK is working to realize:
We will be holding public scoping meetings in seven venues currently, with the intent of soliciting comments from the public and interested parties to help inform our alternative analysis as well as resource and other issues of concern.
As opposed to being general comments associated with preference for the project or against the project, if individuals could identify resources of concern or potential alternatives other than what the applicant is proposing that will help inform us as to what direction and the level of analysis on some of these resources that we will be considering.
What We Saw From The Stock Yesterday
Yesterday proved to be a great day for Northern Dynasty Minerals, as mining ordinances changed in Juneau. In fact, the stock closed the day at $0.8923 per share after a gain of $0.0568 per share (6.7983%). With the news breaking today surrounding the Army Corps of Engineers, I wouldn’t be surprised to see NAK mirror this type of performance in today’s session.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on NAK. In particular, we’re interested in watching anything and everything that has to do with the Pebble Project, as this controversial mining project is the primary source of value for the company. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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