Q: Hi Pat. I am considering Northern Dynasty Minerals (NDM) for the aggressive part of my portfolio. Could you please give me your take on this stock? Thanks.
A: Northern Dynasty Minerals, $2.06, symbol NDM on Toronto (Shares outstanding: 264.6 million; Market cap: $608.4 million; www.northerndynastyminerals.com), aims to build a mine at its Pebble project in Alaska.
The Pebble deposit contains an estimated 81.5 billion pounds of copper, 5.6 billion pounds of molybdenum and 107 million ounces of gold. That makes it one of the world`s largest undeveloped copper/gold deposits.
The project has faced strong opposition from environmental groups in part because it sits near Alaska’s major Sockeye salmon fishery. The U.S. Environmental Protection Agency (EPA) officially halted the project in 2014.
In the wake of the election of President Donald Trump, Northern Dynasty shares shot up from around $1 a share in November 2016 to as high as $4.54 in late January 2017. Investors felt that the new U.S. administration would loosen environmental rules.
Northern Dynasty reacted quickly to the share-price jump by selling 20.2 million shares at $1.85 each ($2.43 Cdn.). The share issue raised a total of $37.4 million…
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