Northern Dynasty Minerals Ltd (NYSEMKT:NAK)
Northern Dynasty Minerals Ltd (NYSEMKT:NAK) continues to elicit renewed investor’s interest in the wake of the Trump Administration’s lifting a veto on the development of the Pebble Mine. The stock was up by 10.88% in Tuesday’s trading session as the Environment Protection Agency rolled back restrictions on the development of the underdeveloped copper and gold mine.
Pebble Mine Development
Hopes that the Trump administration will do away with all the restrictions imposed by the Obama administration on the Pebble Mine may continue fueling bullish momentum on the stock. The stock faces immediate resistance at the $1.80 a share mark above which it could rise to May highs of $2.40 a share.
During the Obama administration, Northern Dynasty Minerals Ltd (NYSEMKT:NAK) lost a good chunk of its market value after losing two Pebble Mine partners, Anglo American and Rio. The company has already started to look for new partners in the wake of the EPA initiating the process to withdraw a Proposed Determination that prevented the development of the Pebble Mine Project.
Northern Dynasty Minerals Ltd (NYSEMKT:NAK) has also taken a number of key steps that it hopes will help reduce opposition from native tribes and advocacy groups for the development of the massive gold and copper mine. The steps are designed to reduce the potential environmental impact of the project while also giving voice to the opposition.
“We believe the project design we are preparing to advance into permitting, as well as the social and stakeholder programs and commitments we are building around our project, will address many of the priorities and concerns we have heard from stakeholders in Alaska,” said Northern Dynasty Minerals Ltd (NYSEMKT:NAK) President & CEO Ron Thiessen.
Pebble Mine Development Impact
The chief executive officer remains confident that they will have a partner by the end of the 3rd quarter. Fundamentally, Northern Dynasty Minerals Ltd (NYSEMKT:NAK) stands to benefit a great deal from being given the go ahead to commence mining operations at Pebble Mine.
There is also a possibility of the company being acquired by another company given the Pebble Mine potential. However, the Northern Dynasty Minerals Ltd (NYSEMKT:NAK) management has, on many occasions, insisted on pursuing partnerships instead of buyouts.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.