NAK - Why Northern Dynasty Minerals Stock Soared Friday
Shares of Northern Dynasty Minerals (NYSEMKT: NAK) soared 33% early today, before settling back to a gain of 20% as of 12:25 p.m. EST. The stock has experienced several sharp moves since the U.S. Army Corps of Engineers rejected the company's response in addressing environmental issues related to dredged materials and waste fluids from its Alaskan Pebble Mine project.
Last night, the mining company announced that the Corps of Engineers accepted the Pebble Partnership's request for appeal (RFA). That's the first step in the potential salvation of the company's lone project, after it appeared to be virtually killed late last year with the corps' initial decision.
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Why Northern Dynasty Minerals Stock Soared Friday