Northern Dynasty receives fourth tranche of $12M royalty investment

Northern Dynasty (NAK) and its 100%-owned U.S.-based subsidiary Pebble Partnership received a $12M payment representing the fourth tranche of investment under the company’s royalty agreement. With the fourth tranche investment now completed before September 30, the royalty investor has the right to elect to complete the fifth and final $12M tranche investment at any time up to and including December 31. CEO Ron Thiessen said, “We continue to have discussions with the government about withdrawing the veto and remain optimistic for a positive outcome. Withdrawal of the illegal veto will be a step towards developing this very large new source of copper and rhenium, as well as significant amounts of gold, molybdenum and silver, unlocking substantial and long-lasting economic benefits for the region, the state and the country. While our focus continues to be on a successful outcome from our discussions, we are maintaining the pursuit of a parallel track and will join the other plaintiffs in filing our opening briefs by October 3. The court action is being pursued in the interest of keeping timelines as tight as possible. Our preferred option remains negotiating a prompt withdrawal of the illegal veto by the government and then dismissing the litigation.”