2 Dec 2022regulatory community update▼ BadMajor
The EPA issued its determination to veto mining at Pebble. The Pebble Partnership said the proposed determination should have been withdrawn instead.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
21 Nov 2022resource reserve update● Neutral
The technical report behind that update, effective 1 October 2022 and prepared by Ausenco.
14 Nov 2022resource reserve update● Neutral
Reran the economics to show the effect of the July royalty sale: the company says a $12 million tranche, or the full $60 million at 10% of gold and 30% of silver, makes little difference to the 20-year base case while adding cash. The comparison is against the 2021 assessment's no-royalty figures.
31 Oct 2022regulatory community update▼ Bad
A House Transportation and Infrastructure Committee report of 163 pages criticised the Pebble project; the Pebble Partnership said it had not seen the report before parts of it reached the media.
4 Oct 2022regulatory community update▲ Good
Alaska and thirteen other states wrote to the EPA opposing the proposed veto, broadening the fight beyond the company and the state that hosts the deposit.
19 Sept 2022other● Neutral
Set out the design features of the proposed tailings facility in answer to opponents' safety criticisms.
8 Sept 2022regulatory community update▼ Bad
Filed extensive objections to the EPA's revised proposed determination, asking the agency to drop the veto action altogether.
27 July 2022material agreement▲ GoodMajor
Sold a stream on Pebble's gold and silver rather than issuing shares: $12 million received up front for 2% of payable gold and 6% of payable silver over the mine's life, after notional payments of $1,500 an ounce for gold and $10 for silver, with the buyer able to add further $12 million tranches to $60 million over two years. The first substantial non-dilutive money in this record, secured against metal from a mine that has no permit.
18 July 2022other● Neutral
Commentary on an S&P Global report forecasting a copper supply gap. No company-specific development.
12 July 2022regulatory community update● Neutral
Finished the 2022 field programme with a five-person crew, whose work included permanently closing drill holes where baseline hydrology data collection was complete.
7 June 2022other● Neutral
Named one of 40 constituents of the Toronto Stock Exchange's new Battery Metals Index.
26 May 2022regulatory community update▼ BadMajor
The EPA said it would push ahead with the pre-emptive veto of Pebble under the Clean Water Act. Eight years after the 2014 proposed determination, and three years after the agency withdrew it, the veto process restarts.
9 May 2022other● Neutral
Congratulated Mark Rebagliati of Hunter Dickinson Inc on an exploration award. The release confirms that Hunter Dickinson Services Inc provides services to Northern Dynasty, a related-party arrangement running alongside the company's own management.
28 Apr 2022regulatory community update● Neutral
Planned a six-week field programme from mid-May, again focused on site care and environmental management rather than exploration.
11 Apr 2022annual report▼ BadMajor
Filed 2021 annual accounts and Form 40-F. The auditor's report again carried a going-concern emphasis of matter, as in previous years. The release itself is misdated "April 8, 2021" for filings covering the year to 31 December 2021.
16 Mar 2022other● Neutral
Commentary tying President Biden's "Made in America" and supply-chain remarks to the case for permitting Pebble. No new project development.
28 Feb 2022other● Neutral
Published an economic contribution study it commissioned from IHS Markit, arguing Pebble could support thousands of jobs and cut US copper imports.
19 Jan 2022other▼ Bad
Marked one year since the appeal was filed with no decision from the Army Corps, alongside commentary on bank forecasts for copper prices.
1 Dec 2021regulatory community update● Neutral
The EPA extended its own deadline for deciding whether to withdraw the 2014 proposed determination or move to a recommended determination, leaving the veto question open again.
2 Nov 2021resource reserve update● Neutral
The full technical report behind that assessment, effective 9 September 2021, prepared by Ausenco with Tetra Tech, Knight Piesold and Hunter Dickinson personnel as qualified persons.
25 Oct 2021resource reserve update● NeutralMajor
The completed preliminary economic assessment, with the September figures marginally restated: 15.7% return and $2.3 billion net present value at forecast prices, $4.7 billion at prevailing prices, and 6.4 billion lb of copper over the life of the proposed mine.
13 Oct 2021regulatory community update● Neutral
Asked the court to set a deadline forcing the EPA to either withdraw or finalise the 2014 proposed determination rather than leave it open indefinitely.
4 Oct 2021regulatory community update● Neutral
Completed the summer programme: baseline studies, site care, and demobilisation and permanent closure of facilities and equipment no longer needed at site.
13 Sept 2021regulatory community update▼ BadMajor
The EPA asked the court to vacate its own July 2019 withdrawal of the veto proposal, which would revive the 2014 proposed determination against Pebble. The regulatory relief won in 2019 is being handed back voluntarily by the agency.
9 Sept 2021resource reserve update● NeutralMajor
A preliminary economic assessment put the project as designed in the permit application at a 15.8% return and a $2.3 billion net present value at a 7% discount and forecast long-term prices, rising to $4.8 billion at prices then prevailing, with expansion cases running 90 to 101 years and $5.8-8.5 billion. It values the same mine plan whose federal permit had been refused ten months earlier.
16 Aug 2021regulatory community update● Neutral
A new review officer was assigned to the appeal, seven months after it was filed.
10 Aug 2021regulatory community update▲ Good
Said the magnitude 8.1 earthquake off Alaska on 28 July 2021 produced less ground movement at the Pebble site than the design case used for the proposed tailings facility.
21 June 2021regulatory community update▼ BadMajor
The Ninth Circuit ruled that the environmental groups' challenge to the EPA's 2019 withdrawal of the veto proposal must be heard on its merits, reversing the April 2020 dismissal the company had welcomed. The 2014 veto proposal is back in play.
15 June 2021regulatory community update● Neutral
Planned a six-week helicopter-supported summer programme at site, aimed at environmental baseline work, sustainability and regulatory compliance rather than drilling.
1 June 2021regulatory community update● Neutral
The Army Corps completed the administrative record on which the appeal will be decided and gave it to the Pebble Partnership for review.