NAK - Northern Dynasty says Alaska to appeal Pebble Project permit denial

Northern Dynasty Minerals (NAK) +2.7% pre-market on news that the Alaska state government will formally appeal the U.S. Army Corps of Engineers denial of a key federal permit for the company's Pebble Project.Alaska Gov. Dunleavy says the denial of the Clean Water Act 404 permit for the proposed project "flawed [and]... creates a dangerous precedent that will undoubtedly harm Alaska's future."The company says the state action "will bring different perspectives and motivations in challenging a federal decision that Pebble believes to be arbitrary, unprecedented in Alaska and unsupported by the administrative record."The Pebble project is "on life support" after the permit denial, with the odds of the mine progressing under the Biden administration "near zero," Elephant Analytics says in a bearish analysis published on Seeking Alpha.

For further details see:

Northern Dynasty says Alaska to appeal Pebble Project permit denial