The stock of Northern Dynasty Minerals Ltd (NYSEAMERICAN:NAK) closed at $1.84 gaining 1.84 in yesterday’s trading session. Pebble Limited Partnership, a subsidiary of Northern Dynasty Minerals is already done with the documentation process and will soon be filing for a US Clean Water Act 404 permit. That will take place on Friday and will be in line with the National Environmental Policy Act.
Ron Thiessen, the Northern Dynasty President & CEO opined, “At the outset of 2017, we established three ambitious corporate objectives for Northern Dynasty and the Pebble Project. We committed to reaching a resolution with the US Environmental Protection Agency (“EPA”) to restore the Pebble Project to normal course permitting, to re-partnering on the Pebble Project and to initiating permitting under NEPA.”
The year is already coming to an end and he exuded confidence in saying that they would manage hitting their set mark on all the three crucial milestones. It was back in May when Northern Dynasty went ahead to announce a settlement agreement with EPA where a consensus was arrived at that would see the federal agency initiate a process of withdrawing its Proposed Determination under Section 404(c) of the Clean Water Act. It was this that cleared up the way for Pebble to move ahead and make the application for the CWA 404 permit with the US Army Corps of Engineers.
Pebble Partnership CEO Tom Collier termed it a progressive move that they had succeeded at moving the Pebble Project forward to its next phase by kick-starting the NEPA permitting process.
There is no doubt that Pebble as currently envisaged will be able to secure development permits from the local regulatory ,federal and local agencies. Gaining support from the various people in Bristol Bay will help it move forward to achieve its set objectives.
Thiessen takes the strong stand that indeed Pebble is with the passage of time gaining positive momentum and by next year it will have more progress milestones to announce. It has accomplished much so far and hopes to achieve much more in the near future.