HomeTop MoversHere is why Northern Dynasty Minerals Ltd (NAK) stock went down on...

Here is why Northern Dynasty Minerals Ltd (NAK) stock went down on Tuesday?

Northern Dynasty Minerals Ltd. (NAK) shares declined 0.26% in after-hours on Tuesday, September 14, 2021, and closed the daily trading at $0.43. In the regular trading session of Tuesday, NAK’s stock lost 5.92%. NAK shares have fallen 58.12% over the last 12 months, and they have moved down 12.75% in the past week. Over the past three months, the stock has lost 20.19%, while over the past six months, it has reduced by 41.72%.

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NAK reaction over recent EPA action

On September 10, 2021, Northern Dynasty Minerals Ltd (NAK) showed its disappointment over the U.S. Environmental Protection Agency’s (EPA) decision to file a motion for remand with vacatur about a lawsuit brought by Trout Unlimited and other environmental groups against the EPA, challenging the federal agency’s July 2019 decision to withdraw its previously issued ‘Proposed Determination’ for Alaska’s Pebble Project.


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Northern Dynasty President and CEO Ron Thiessen reacted to the recent news and said that It is unfortunate that politics continues to interfere with scientific evidence. Under President Joe Biden, we once again find ourselves dealing with Obama-era policies that were inappropriate then, and are inappropriate now. He further said that science and facts prevail in the end over political pressure and misinformation.

NAK provide an Economic Assessment update about Pebble Project

On September 9, 2021, Northern Dynasty Minerals Ltd. (NAK) announced the results of a 2021 Preliminary Economic Assessment providing updated production, financial and cost estimates for its proposed Pebble Project in Southwest Alaska. In addition to the Proposed Project, the 2021 PEA examines three potential mine expansion scenarios and potential alternative strategies for gold recovery that could form the basis for future permit applications and review. U.S. dollars and U.S. standard units are used unless otherwise indicated. The complete details are available on the company’s website.

New review officer for NAK pebble project

On August 16, 2021, Northern Dynasty Minerals Ltd. (NAK) said that its 100%-owned US-based subsidiary Pebble Limited Partnership has been advised by the US Army Corps of Engineers that a new Review Officer has been assigned to its appeal of the federal agency’s issuance of a negative Record of Decision for Alaska’s Pebble Project.

NAK Alaska facilities remained unaffected by the massive earthquake

On August 10, 2021, Northern Dynasty Minerals Ltd (NAK) determined that the 8.1 magnitude earthquake experienced in Alaska on July 28, 2021, resulted in substantially less ground movement at the project site than the seismic events considered in the assessment of the stability of its proposed tailings facility designs.

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Conclusion

The company is facing a tough time from the Biden government for its Alaska Pebble project which is resulting in its loss in the stock market. The company seems committed to carrying on the project and we can expect growth in the coming trading days.

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