Northern Dynasty ramps up financing efforts to pay for litigation, EPA investigations

Northern Dynasty Minerals (NDM), the Canadian mineral exploration company that owns 100% of the Pebble prospect, has no income and does not expect a positive cash flow until revenues from the Pebble project begin to offset its operating expenses. (If permitting can be achieved, the Pebble project could begin operation by 2024).

To fund its current activities, NDM has pursued a variety of financing options, detailed below. According to company reports, funds raised through these efforts have gone toward:

  • Litigation with EPA
  • Facilitation of third-party investigations of the EPA
  • Maintaining an active corporate presence in Alaska to advance relationships with political and regulatory offices of government, Alaska Native partners and broader stakeholder groups
  • Maintaining the Pebble project, site and claims in good standing
  • Environmental monitoring
  • Maintaining PLP in good standing
  • Finding a potential partner

Northern Dynasty Financing Strategy

Type of financing

Date

 

Approximate amount raised (in Canadian $)

Note

Special Warrants financing (2014)

January 2015

$15.5 million

Funds were budgeted to last through Dec 2015, but were depleted by May 2015.

Special Warrants financing (2015)

August/September 2015

$15 million

 

Acquisition of Cannon Point Resources Ltd.

October 2015

$4.7 million

Gordon Keep of Cannon Point added to NDM board.

Acquisition of Mission Gold

December 2015

$9 million

Marcel de Groot and David De Witt of Mission Gold added to NDM board.

Common share financing

December 2015

$5.28 million

 

Mixed securities shelf

March 2016

Up to $20 million

Can sell securities over a 25-month period.

Related: 

Northern Dynasty Board restructures, loses six seasoned Directors

PLP vs. EPA: An Update

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About Pebble Watch

Pebble Watch is an impartial, educational and fact-based initiative of the BBNC Land Department to disseminate information regarding the proposed Pebble Mine project to BBNC shareholders and interested parties. 

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