Thiessen said the company is not in formal negotiations with any other party regarding Pebble, which, despite its world class nature, faces major headwinds. Speaking to analysts in a conference call from London, England, Thiessen said he planned to hold talks with Rio Tinto PLc (NYSE: RIO, Stock Forum), which owns 19% of Northern Dynasty, but added that the meeting will essentially be a courtesy call. Northern Dynasty is also well positioned to begin the process of trying to secure a mining permit, a challenge that could take up to four years and may cost anywhere from $30 to $50 million, he said.
Given that Anglo has spent US$541 million on the project, Thiessen said Northern Dynasty is in possession of an extensive data base and project description that can be made available to anyone thinking of taking a stake the project. In a conference call with analysts Monday, Northern Dynasty President and CEO Ron Thiessen tried to put the situation in a positive light, saying that the company now owns 100% of the Pebble property, which is widely thought to be among the world’s richest undeveloped mining projects.Ĭurrent resource estimates include 55 billion pounds of copper, 67 million ounces of gold, and 3.3 billion pounds of molybdenum. (TSX: T.NDM, Stock Forum) have lost 35% of their value in the last two trading sessions after partner Anglo American Plc (OTO: AAUKF, Stock Forum) announced Monday that it is withdrawing from a large, but controversial Alaskan metals project that it shares with Northern Dynasty. Northern Dynasty (T.NDM) facing headwinds after Anglo’s Alaskan exit
Northern Dynasty (T.NDM) facing headwinds after Anglo?s Alaskan exit-T.NDM-AAUKF-Stockhouse news Bumping this thread with some news for those who might be interested:
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