Northern Dynasty Minerals Ltd (NYSEAMERICAN: NAK) is having an overwhelmingly strong start to the trading session this morning, and for good reason. News is breaking surrounding changes to mining ordinances in Juneau, Alaska that are great for the company’s Pebble Project. With the news in mind, investors are excited, sending the stock screaming for the top. Today, we’ll talk about the news, what we’re seeing from NAK, and what we’ll be watching for ahead.
NAK Heads For The Top On Changes In Juneau
As mentioned above, Northern Dynasty Minerals is having an incredibly strong start to the trading session this morning, and for good reason. News is breaking out of Juneau, Alaska surrounding changes to mining ordinances that are a positive for the company’s Pebble Project.
In an announcement, the City and Borough Mining Subcommittee said that it will push the city’s mining ordinance, with some minor revisions, through to the CBJ Committee on the whole. The announcement comes after listening to several comments, some of which came from Bob Loeffler, one of the coordinators at Bristol Bay’s Pebble Mine Permitting. So, the move will directly affect NAK. Ultimately, the fact that the mining ordinance will be pushed through means that the company is now one step closer to bringing the Pebble Project to life.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dabble in the market is that the news causes movement. In this particular case, the news proved to be overwhelmingly positive. With the Juneau city mining ordinance moving forward, the company is one step closer to breaking ground on what could prove to be one of the most lucrative mining ventures in the world. So, it’s no surprise that the stock is making a run for the top in the pre-market this morning. Currently (8:00), NAK is trading at $0.90 per share after a gain of $0.06 per share (7.72%) thus far today.
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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’ll be watching for any movements with regard to the Pebble Project, whether it be a move that the company is making or one that regulators are making. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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