Northern Dynasty Minerals Ltd (NYSEMKT: NAK) is having an incredible day in the market today, and for good reason. The company announced that it has received approval for key activities with regard to the Pebble Project. As a result, an investor frenzy ensued, leading to gains on the stock and prompting our partners at Trade Ideas to send the alert. At the moment (11:27), NAK is trading at $1.65 per share after a gain of $0.27 per share (19.57%) thus far today.
NAK Receives DNR Approval
As mentioned above, Northern Dynasty Minerals is having an exceptional day in the market today after announcing that it has received DNR approval. Well, the approval was given to its 100% owned US Subsidiary known as Pebble Limited Partnership. The approval surrounds a Miscellaneous Land Use Permit, which was provided by the Alaska Department of Natural Resources, and provides the permit for ongoing activities NAK is working on at the Pebble Project in Southwest Alaska. In a statement, Tom Collier, Pebble Partnership CEO, had the following to offer:
“The Alaska Department of Natural Resources and other state agencies have had an active oversight presence at the Pebble Project site for more than a decade, and have confirmed that Pebble is a well-managed exploration project... We will continue our site operations in 2017 in full compliance with the State's permit conditions, and in a manner that protects the broader public interest in the lands and resources surrounding the Pebble property.”
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What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be watching NAK incredibly closely. In particular, we'll be watching progress at the Pebble Project as well as in other areas of the business. We'll continue to follow the story closely and bring the news to you as it breaks!
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