The Financial Post reports in its Thursday, April 13, edition that Northern Dynasty Mineral jumped 59 cents to close in Toronto on Wednesday at $2.42 after it received a crucial permit from the Alaska government that could see its Pebble project clear a 10-year-long development hurdle.
The Post's Sunny Freeman writes that Northern Dynasty, which has also recently been the target of a short-seller campaign, said late Tuesday its U.S. subsidiary Pebble LP has received notice of approval for a miscellaneous land use permit from the Alaska Department of Natural Resources.
The shares are up nearly 300 per cent since the November election of U.S. President Donald Trump on speculation that his administration would loosen environmental regulations that have held back its Pebble copper-gold project. Pebble Partnership head Tom Collier says, "The Alaska Department of Natural Resources and other state agencies have had an active oversight presence at the Pebble project site for more than a decade, and have confirmed that Pebble is a well-managed exploration project."
The partnership will begin to prepare the project for permitting under the Clean Water Act and National Environmental Policy Act.
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