Past year: ▼ 40%(1.69 – 3.24 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
20 Mar 2019capital raising announcement▼ Bad
Agreed a US$10.0 million bought deal with Cantor Fitzgerald as lead: 15,625,000 shares at US$0.64, with an over-allotment of up to 2,343,750 more.
What it means for a shareholder
15.6m new shares at US$0.640 to raise about US$10.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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27 Feb 2019other material event▲ GoodMajor
A federal court in California dismissed the securities class action brought against the company and several officers and directors in February 2017, ruling for the defendants on every claim and closing the case. The company said it did not know whether the plaintiffs would appeal.
20 Feb 2019regulatory community update▲ GoodMajor
The Army Corps published the draft environmental impact statement for Pebble. Northern Dynasty said its own first read showed no data gaps or impacts that would stop a permit being issued.
2 Jan 2019capital raising announcement▼ Bad
Closed the first tranche: 8,908,322 special warrants at C$0.83 for C$7.4 million (US$5.6 million), with a second tranche of 2,382,000 said to be imminent and expected to take the total to about C$9.4 million.
2 Jan 2019capital raising announcement▼ Bad
The second tranche came in at 1,242,000 special warrants for C$1.03 million, roughly half the 2,382,000 flagged a week earlier, leaving the total raised at about C$8.4 million rather than the C$9.4 million expected.
13 Dec 2018capital raising announcement▼ Bad
Announced a placement of up to about 11.3 million special warrants at C$0.83 (US$0.62) to raise roughly C$8.4 million, the proceeds going largely to a success fee owed to the company's lawyers for the 2017 EPA settlement and due by year end. Money raised to pay for a legal win rather than to advance the deposit.
23 Nov 2018material agreement▲ GoodMajor
The Pebble Partnership signed a right-of-way agreement with Alaska Peninsula Corporation, an Alaska Native village corporation with more than 900 shareholders, securing use of its land for the mine's transport infrastructure.
13 Nov 2018regulatory community update▲ GoodMajor
Alaska elected Mike Dunleavy, a Republican who favours resource development, as governor, and voters defeated Ballot Measure 1, a salmon-habitat initiative Northern Dynasty describes as anti-Pebble. The first event in this record where a public vote, rather than an agency, decides the project's environment.
5 Sept 2018regulatory community update● Neutral
The Army Corps released its scoping document for the Pebble impact statement, closing the comment stage that began in April. The same release flagged an investor conference appearance.
29 May 2018material agreement termination▼ BadMajor
First Quantum walked away: the two sides could not agree terms for the option and partnership contemplated by the December 2017 framework agreement and it was terminated on 25 May 2018. Northern Dynasty keeps 100% of Pebble and, with it, the whole cost of permitting.
2 May 2018material agreement● Neutral
A second extension of the First Quantum deadline, to 31 May 2018, with the option agreement still unsigned a month later.
9 Apr 2018material agreement● NeutralMajor
Extended to 30 April 2018 the deadline under its December 2017 framework agreement with First Quantum Minerals, which contemplated First Quantum taking an option to buy into Pebble. The company warned there was no assurance any transaction would be signed.
27 Mar 2018regulatory community update● Neutral
The Army Corps published its scoping package for the Pebble impact statement, opening public comment from 1 to 30 April 2018 with hearings in Anchorage, Homer, King Salmon, Dillingham and in villages near the deposit.
27 Feb 2018resource reserve update● NeutralMajor
Filed the technical report behind a slightly larger Pebble resource: 6.456 billion tonnes measured and indicated at 0.40% copper, 0.34 g/t gold, 240 ppm molybdenum and 1.7 g/t silver (57 billion lb copper, 71 million oz gold, 3.4 billion lb molybdenum, 345 million oz silver), plus 4.454 billion tonnes inferred at 0.25% copper. The increase came from a change in the planned processing method that altered assumed metal recoveries, not from new drilling.
30 Jan 2018regulatory community update● Neutral
A re-issue of the January 26 release three days later. Diffed against the original, the only substantive change is an added paragraph responding to EPA Administrator Scott Pruitt's January 26 announcement suspending withdrawal of the 2014 veto proposal, which Northern Dynasty said would have no effect on permitting - "Nothing has changed."
30 Jan 2018regulatory community update● NeutralMajor
The Army Corps of Engineers accepted Pebble's Clean Water Act permit application in December 2017 and began the environmental impact review - the formal start of permitting for Northern Dynasty's only asset, the Pebble copper-gold-molybdenum deposit in southwest Alaska. A May 2017 settlement bars the EPA from acting under Clean Water Act section 404(c) until the final impact statement is finished, provided that happens within four years of the settlement.
