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  1. phil

    NAK is way down but not out – have to wait and see what happens:

    Haven't decided yet. Wasn't much we can do with the sudden drop but headline sounds worse than the facts:http://tinyurl.com/y9v…

    VANCOUVER , Jan. 29, 2018 /CNW/ – Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE MKT: NAK) ("Northern Dynasty" or the "Company") confirms the Environmental Impact Statement ("EIS") permitting process for Southwest Alaska's Pebble Project continues to advance under the guidance of lead federal agency, the US Army Corps of Engineers (the "Corps").

    "The settlement agreement that the Pebble Partnership entered into with the US Environmental Protection Agency ("EPA") last year provides Pebble an unfettered opportunity to proceed through normal course permitting under the Clean Water Act and National Environmental Policy Act," said Northern Dynasty President & CEO Ron Thiessen . "We have every confidence that Pebble's ultimate project design will meet the rigorous environmental standards enforced in Alaska and the US, and that the EIS permitting process initiated by the Corps this month will demonstrate that compliance through an open, objective, transparent and science-driven review."

    Under the terms of a May 2017 settlement agreement reached between Northern Dynasty's 100%-owned subsidiary Pebble Limited Partnership and the US EPA, the federal agency agreed it will not advance any action under Section 404(c) of the Clean Water Act until a final EIS for the Pebble Project has been completed – so long as that occurs within four years of the settlement agreement and Pebble files permit applications within 30 months of the settlement agreement. Earlier this month, the Corps accepted as complete a CWA 404 permit application submitted by the Pebble Partnership in December 2017 , and has initiated the EIS permitting process.

    In other words, they didn't get a quick pass and now they have to present a plan that takes into account the environmental concerns of protecting the water table – which MIGHT be insurmountable, but they have a few years to work on it. The people who wanted a quick pay-off have bailed.

    Thiessen said Northern Dynasty believes EPA Administrator Scott Pruitt's announcement will have no effect on the process or outcome of regulatory permitting for the Pebble Project. "Nothing has changed," he said, noting that the EIS process initiated by the Corps earlier this month will continue to proceed efficiently and that no new environmental regulations or process steps have been introduced.

    "We expect the permitting process for Pebble to advance expeditiously over the next few years, and that a draft and final EIS will be completed upon which final permitting decisions for the Pebble Project will be made," Thiessen said. "Ultimately, we believe the Pebble EIS will describe a project that protects clean water and the world-class fisheries of Bristol Bay, and presents the opportunity for substantial economic benefits for the people of the region and the state. We'd encourage all Alaskans and all interested stakeholders to participate fully in the thorough, objective and rigorous review of the Pebble Project."

    In the OOP we took a $3,000 hit on NAK as we had 5,000 shares at $1.74 but way too early to double down – even if we decide to so, for now, we wait.

    We did not buy NAK in the LTP so this is now interesting but we'll see what happens this week.



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