Northern Dynasty Minerals Update

This summer Northern Dynasty Minerals, which owns 100% of the Pebble deposit, had significant changes on its Board of Directors, as well as to its stock price. Here’s an update.

Two new Northern Dynasty Board members opt out

In April, Pebble Watch reported on the make-up of the Northern Dynasty Board of Directors, noting that more than half of its members had fewer than six months’ experience with the company.

Two of those new members – Marcel de Groot and David De Witt – declined to be considered for re-election to the Board during Northern Dynasty’s annual meeting of shareholders. De Groot had joined the Board in December 2015, with De Witt following in February 2016. According to a press release from Northern Dynasty, their decisions came after the company had already sent election information to its shareholders in mid-May.

“Both joined the Board upon the consummation of the Plan of Arrangement with Mission Gold Ltd. in order to see the conclusion of that arrangement, bring some new members to the Board and help provide longer-term strategic guidance,” reads the press release. “Having accomplished these goals, Messrs. De Witt and de Groot have decided to re-focus on other businesses interests.”

New board members as of June 2016 include David Laing and Christian Milau, both executives with TrueGold mining, which focuses on gold mining in West Africa.

Currently five out of eight board members have joined the Northern Dynasty Board board since October of last year.


NDM Board Members

Joined NDM Board Specialty
Robert Dickinson, Executive Chairman 2004 Project development
Ron Thiessen, President and CEO 2001 Corporate development
Ken Pickering 2013 Engineering, mining development
Gordon Keep Oct 2015 Geologist, investment banking, natural resource companies
Desmond Balakrishnan Dec 2015 Attorney, mergers and acquisitions
Steven Decker March 2016 Financial analyst, portfolio manager
David Laing June 2016 Mining operations, engineering, finance
Christian Milau June 2016 Mining executive, accounting, acquisition, government relations

Northern Dynasty stock, “the riskiest stock on the planet”

Investors were talking up Northern Dynasty (NAK) stock this summer, at a mining investment conference in Vancouver, and on blogs and podcasts. Northern Dynasty flew some investors to the site for a tour, and the stock was later touted as a risky stock with potential for high reward.

The stock peaked at $1.04 in mid-August, and then fell to its current .75. The movement was a boon to “momentum traders,” as detailed by The Street Sweeper, which posted a summary of the risks to investors.

(Google screen shot 9-15-2016)

Read more:

Motley Fool Online: “Northern Dynasty Minerals’ Stock Rallies 17%, but It’s Not a Signal to Buy