Northern Dynasty Minerals Ltd (NYSEAMERICAN: NAK) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced news with regard to the Pebble Project, exciting investors and sending the stock on a run for the top. Today, we’ll talk about:
- The Pebble Project news;
- what we’re seeing from NAK stock as a result; and
- what we’ll be watching for ahead.
View our full report on NAK here!
NAK Announces Pebble Project Update
As mentioned above, Northern Dynasty Minerals is having a great day int he market today after announcing news with regard to its Pebble Project. The news came by way of press release early this morning.
In the release, NAK said that it has finalized a Right-of-Way Agreement with Iliamna Natives Limited. This agreement secures the rights to use defined portions of INL lands for the construction and operation of transportation infrastructure associated with the Pebble Project.
INL is an Alaska Native village corporation that has extensive land holdings around the Pebble Project sites. The company represents 150 Alaska Native shareholders, many of who live in the nearby village of Illamna.
In a statement, Ron Thiessen, President and CEO at NAK, had the following to offer:
We’re very pleased to have reached an agreement with Iliamna that will involve them and their shareholders in a meaningful way in the future development of the Pebble Project.
Not only does today’s announcement demonstrate that the Alaska Native landowners and those who live in closest proximity to the project support the work we are doing to advance Pebble in an environmentally sound and socially responsible manner, it also ensures they will benefit in a meaningful way from the jobs and other economic opportunities associated with the project.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to Northern Dynasty Minerals, the news proved to be overwhelmingly positive.
After all, this Right-of-Way Agreement brings the company one step closer to breaking ground on the Pebble Project, a project that represents one of the largest untapped deposits of precious metals in the world. So, it’s not surprising to see that excited investors are pushing the stock for the top.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:23), NAK is trading at $0.4898 per share after a gain of $0.03 per share or 6.50% 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’re interested in following the story surrounding the company’s continued work to bring the Pebble Project to life as it stands to return incredible value to shareholders in doing so. Nonetheless, we’ll keep a close eye on the story and bring the news to you as it breaks!
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