Northern Dynasty is up 19% on Trump tweet
A 29-word Tweet from President Trump was worth C$121 million to Northern Dynasty today.
Don’t worry, wonderful & beautiful Alaska, there will be NO POLITICS in the Pebble Mine Review Process. I will do what is right for Alaska and our great Country!!!— Donald J. Trump (@realDonaldTrump) September 17, 2020
President Trump said yesterday evening that there will be "no politics" in the mine review process.
The company jumped 19% today and closed C$1.50 for the day. The company currently has a market cap of C$759.5 million.
In August some news outlets announced that the Pebble project would be blocked by the Trump administration. That was on top of high level officials in the administration who voiced opposition to the project earlier in the month.
No announcement was made about the project being blocked. The U.S. Army Corps of Engineers did announce mitigation measures would be needed for the project's wetland impacts, and Northern Dynasty CEO Ronald Thiessen said the project was still on track.
In July a final Environmental Impact Statement for Alaska’s
Pebble Project was issued.
If permitted the Pebble mine will be North America’s largest mine, according to a study by the Center for Science in Public Participation. Northern Dynasty's Pebble Project is located in southwest Alaska. On the company's website it says the current resource estimate includes 6.5 billion tonnes in the measured and indicated categories containing 57 billion lb copper and 71 million oz gold.