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Northern Dynasty Minerals NAK
(Total Views: 655)
Posted On: 08/01/2019 7:18:56 AM
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Posted By: Doubloon
The company’s pebble mine is near Lake Iliamna in southwestern Alaska and is expected to produce 70 million tons of valuable minerals per year. With the possible withdrawal of the 2014 Proposed Determination to limit water pollution––which was ultimately an attempt to veto Northern Dynasty’s initiative to develop one of the world’s most important mineral resources called the Pebble Project­­–––NAK is hoping to tap a U.S. $100 billion gold deposit in the region. While the policy change does not guarantee that the U.S. government will issue a permit for NAK’s planned Pebble Mine, the decision does remove a specific restriction that stood in the way of the company’s project.

In reaction, NAK’s stock skyrocketed nearly 65% in Tuesday's trading session, before giving back some of that rally today. However, H.C. Wainwright analyst Heiko Ihle believes there’s a lot more fuel in the tank to propel the stock even higher, as he reiterates a Buy rating on NAK with a $2.50 price target.













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