Northern Dynasty Minerals Ltd (NYSEAMERICAN: NAK) is dipping this morning, following up on tremendous losses seen from the stock Friday. The declines caught me by surprise, as they did with many others. After all, a positive EIS was announced on Friday, which should have sent the stock for the top. So, why is it falling? Here’s the scoop:
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
The Positive EIS Announcement From NAK
Before we get into the reason for the dip, it’s important that you understand why it was so surprising. Northern Dynasty Minterals’ claim to fame is an undeveloped mine known as the Pebble Project.
Should all go well with the mine, NAK will tap into one of the largest gold, silver, and other mineral mines in the world. Throughout the years, the company has been fighting with the United States Environmental Protection Agency to move forward with permitting. However, the location of the mine is in a delecate environment, and the EPA believed that there would be negative impacts on this delecate environment.
Read more at Alpha Stock News!