Northern Dynasty Minerals (NAK) Stock Runs On Pebble News

Northern Dynasty Minerals NAK Stock News

Northern Dynasty Minerals Ltd (NYSEAMERICAN: NAK) is running for the top in the market this morning after announcing that it is now confident that the Pebble Project will come to fruition. Here’s what’s going on:

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NAK Stock Runs For The Top On Expression Of Confidence

In a press release, Northern Dynasty Minerals said that it is now confident that the EPA will approve its permits to move forward with the Pebble Project. This confidence came after a letter issued by the United States Environmental Protection Agency, or EPA.

In the letter, NAK said that the EPA confirmed that the Environmental Impact Statement, or EIS, process for the Pebble Project is proceeding well. Importantly, this EIS is being led by the United States Army Corps of Engineers, and according to the EPA, effectively addresses issues raised by the EPA, US Fish and Wildlife Services, and other agencies.

Tom Collier, CEO at NAK hailed the letter as another positive step toward the projects permitting process. Moreover, he said that the letter reflects the EPA’s decision not to pursue 3(b) elevation under the Clean Water Act.

In a statement, Collier had the following to offer:

This determination by the EPA is another indication of positive progress for the project. This is on the heels of last of week’s announcement from the U.S. Army Corps of Engineers (USACE) indicating their LEDPA determination would be for Alternative 3 – the northern route. We also saw the positive Preliminary Final Environmental Impact Statement earlier this year showing the project can be done responsibly and without harm to the Bristol Bay fishery.

The decision last year by EPA to withdraw the Obama administration’s pending veto (confirmed by a federal court’s recent dismissal of the case brought by NRDC and others attacking that withdrawal), gives us strong reason to believe that EPA will not veto the USACE Record of Decision for the project. Today’s decision not to file a 3b letter gives us more reason to believe that there will be no veto. This is consistent with our observation that USACE and EPA, and the other cooperating agencies, have been working well together to resolve all outstanding issues. The recent LEDPA announcement is further tangible evidence of that cooperation as we understand other federal agencies preferred the northern transportation corridor alternative.

Our core principle has always been for the project to be done in a way that does not harm the fishery or water resources in Bristol Bay. The draft EIS showed this, the PFEIS shows this and we are confident the final EIS will show this and demonstrate to Alaskans that this is an important project for the state’s future.

The USACE continues to advance a rigorous and transparent review of all aspects and alternatives of our project. It has involved cooperating agencies from the federal, state, local and tribal governments in its review of the many technical issues facing the project. The permitting process for the project is reasonable and objective. We have always said let science and technical information guide decisions about the project. The EPA decision to not pursue a 3(b) elevation is in line with this notion.

This News Is Huge

The news released by Northern Dynasty Minerals this morning is massive for the company and all involved. Keep in mind that the company has been working for several years to bring the Pebble Project to fruition, even taking the EPA to court at one point in time.

Nonetheless, things seem to be going in the right direction. While the Pebble project and whether or not it would be permitted has been a big question for quite some time, NAK seems to be confident that permitting will take place.

If all goes well, the Pebble Project will be one of the world’s largest precious metals mines. So, with today’s news, the company is littlerally getting closer to digging deeper into the goldmine. All in all, NAK is a stock to watch.

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