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Probably this has something to do with it - Page 37 of Cantor Report -
INVESTMENT RISKS
Investing in mining and exploration companies is inherently risky. Commodity, geological, operational, regulatory, or financing risks on projects could result in delays in development or production, impact economics or disrupt shipment schedules.
Commodity Risk
The Company is in advanced stage development. There is a risk that copper and gold prices could decline in the interim as a result of rising interest rates, the global geopolitical outlook, strength in the financial sector, election outcomes, etc. Should the price of copper or gold decline significantly, the Company could choose to delay or cancel further exploration and be required to write down any assets in order to reflect the weaker price environment. Any delay or termination of project exploration could have an adverse impact on the future financial position and profitability of the Company.
Geologic Risk
Results of drilling at Pebble could prove to be disappointing and thus negatively affect the viability the project. The lack of future exploration success may impact upside potential of the company.
Regulatory Risk
In accordance with applicable Federal and Provincial laws and regulations, Northern Dynasty Minerals Ltd. is required to obtain the proper permits and licenses in order to conduct exploration activities, develop its projects, and ultimately mine and process ore. We believe that Northern Dynasty Minerals Ltd. has been and will continue to be diligent in its preparation of the applications for the required permits and licenses for its projects; however, the regulatory review period could take longer than expected. With considerable mineral development taking place, the regulatory agencies may be stretched to the limit, prompting delays.
Political Risk
We believe that the Federal and State levels of government will continue its favorable view towards mining. However, any local opposition could impede exploration/development efforts as a result of additional public review/comment periods or debate and possibly even potential litigation.
LOL repeating John Stossel again - SMH
Wow
Alaska’s Pebble Mine: Investment Firm Says Northern Dynasty is “Worthless”
By Bonnie Gestring
It’s hard to believe that the battle to protect America’s most valuable wild salmon fishery from the proposed Pebble Mine continues. Across America, the public has repeatedly voiced its opposition to Pebble, and its support for protecting Alaska’s Bristol Bay salmon fishery and the 14,000 hard-working fishermen it supports.
Commercial fishermen. Seafood processors. Hunters and anglers. Alaska Native communities. Jewelry retail companies. Grocery stores. Chefs. Restaurants. Churches. Scientists. They’ve all said Pebble is a bad idea. And, some of the world’s largest mining companies (Anglo American & Rio Tinto) have walked away from it.
Yet, Northern Dynasty, the Canadian junior mining company behind the project, continues to promote the mine to investors amid speculation that the Trump Administration may view it more favorably.
Today, the company’s stock took a deep dive after a New York investment firm released a report claiming that the Pebble Mine isn’t commercially viable, stating that: “All this enthusiasm is misplaced. We believe Northern Dynasty is worthless.”
Their report concluded that:
Northern Dynasty’s key asset, the lowgrade Pebble deposit, is not commercially viable: mining it would require so much upfront investment that it would actually destroy value.
Kerrisdale believes Northern Dynasty’s former partners concluded that the Pebble project had a negative present value – an assessment that Northern Dynasty has spent years trying to conceal from the public.
Not only that, but a law firm has announced an investigation into possible securities fraud violations.
In contrast, the value of the Bristol Bay fishery is proven. Every year, millions upon millions of wild salmon return to Bristol Bay, like no place else on earth. It’s the economic backbone of the region, supplying roughly half of the world’s supply of wild sockeye salmon, and generating $1.5 billion in annual value. It can continue to play this vital role as long as the habitat is protected.
At the end of the day, it's the Bristol Bay fishery that's the good investment!
https://www.earthworksaction.org/earthblog/detail/alaskas_pebble_mine?gclid=CI3qqc6mrNQCFceCswodZFAM-A#.WTg9mTo5d5i
3. But look at those reserves!
Let's assume Pebble becomes an active, resource-producing mine. While investors today have been hypnotized by the massive mineral deposits at the site, that's the wrong metric to focus on. The metric currently reported by Northern Dynasty Minerals focuses on resource estimates, which are comprised of three types: measured, indicated, and inferred. The level of confidence that the resources exist decreases with each category.
That presents some risk to investors, especially considering that the middle category includes over 60% of the copper, gold, and silver estimates.
Mineral
Measured
Indicated
Inferred
Copper
3.83 billion pounds
53.42 billion pounds
24.55 billion pounds
Gold
5.93 million ounces
64.62 million ounces
37.25 million ounces
Molybdenum
0.21 billion pounds
3.20 billion pounds
2.18 billion pounds
Silver
28.13 million ounces
315.5 million ounces
170.5 million ounces
Data source: Northern Dynasty Minerals 2014 estimate.
Importantly, resources aren't even the metric that matters for mining companies, which are made or broken by the total number of reserves. Northern Dynasty Minerals has yet to complete additional studies to upgrade its resources to reserves, and it is careful to state that estimates "potentially support a modern, long-life mine."
Worse, the gold concentration in the ore from Pebble (measured in ounces of mineral per ton of ore) is between four and seven times lower than other profitable mines around the world. That could hike up the costs of successful development and may even threaten the mine's ability to ever turn a profit.
Long story short
A simple narrative has propelled Northern Dynasty Minerals stock in the last 12 months. Traders and investors see a company that is sitting on a large deposit of valuable minerals that has suddenly encountered fewer barriers to development. However, the more nuanced take is that there are inconvenient realities facing the company as it attempts to successfully develop Pebble. The details should serve as a warning to investors looking for a long-term payday.
https://www.fool.com/investing/2017/06/02/3-terrible-reasons-to-buy-northern-dynasty-mineral.aspx
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President Trump Should Start in Bristol Bay to Protect American Jobs
https://morningconsult.com/opinions/president-trumps-wants-protect-american-jobs-start-bristol-bay/
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So do you think analysts responsible for this paid for report would have a short position in NAK? Not likely. So that leaves the other option, a long position.
As you stated, the disclaimer clearly states that the analysts responsible for the research report do have a position in the shares or options of NAK, it does not state they might have a position. It states they do have a position. My guess is the position the disclaimer states they definitely do have, is not a short position, and any clear thinking investor would probably agree. However, if the analysts who were responsible for the report have a short position in NAK, it would take the current shorting conspiracy theory hysteria to even new levels.
Maybe not, after reading this part of the disclaimer at the end of the report -
Potential conflicts of interest
The author of this report is compensated based in part on the overall revenues of Cantor, a portion of which are generated by investment banking activities. Cantor may have had, or seek to have, an investment banking relationship with companies mentioned in this report. Cantor and/or its officers, directors and employees may from time to time acquire, hold or sell securities mentioned herein as principal or agent.
Although Cantor makes every effort possible to avoid conflicts of interest, readers should assume that a conflict might exist, and therefore not rely solely on this report when evaluating whether or not to buy or sell the securities of subject companies.
Disclosures as of June 5, 2017
Cantor has provided investment banking services or received investment banking related compensation from Northern Dynasty Minerals Ltd. within the past 12 months.
The analysts responsible for this research report do have, either directly or indirectly, a long or short position in the shares or options of Northern Dynasty Minerals Ltd.
The analyst responsible for this report has not visited the material operations (Pebble) of Northern Dynasty Minerals Ltd. No payment or reimbursement was received for the related travel costs.
The market also see's this from Cantor - and the selling began -
page 37 -
INVESTMENT RISKS
Investing in mining and exploration companies is inherently risky. Commodity, geological, operational, regulatory, or financing risks on projects could result in delays in development or production, impact economics or disrupt shipment schedules.
Commodity Risk
The Company is in advanced stage development. There is a risk that copper and gold prices could decline in the interim as a result of rising interest rates, the global geopolitical outlook, strength in the financial sector, election outcomes, etc. Should the price of copper or gold decline significantly, the Company could choose to delay or cancel further exploration and be required to write down any assets in order to reflect the weaker price environment. Any delay or termination of project exploration could have an adverse impact on the future financial position and profitability of the Company.
Geologic Risk
Results of drilling at Pebble could prove to be disappointing and thus negatively affect the viability the project. The lack of future exploration success may impact upside potential of the company.
Regulatory Risk
In accordance with applicable Federal and Provincial laws and regulations, Northern Dynasty Minerals Ltd. is required to obtain the proper permits and licenses in order to conduct exploration activities, develop its projects, and ultimately mine and process ore. We believe that Northern Dynasty Minerals Ltd. has been and will continue to be diligent in its preparation of the applications for the required permits and licenses for its projects; however, the regulatory review period could take longer than expected. With considerable mineral development taking place, the regulatory agencies may be stretched to the limit, prompting delays.
Political Risk
We believe that the Federal and State levels of government will continue its favorable view towards mining. However, any local opposition could impede exploration/development efforts as a result of additional public review/comment periods or debate and possibly even potential litigation.
Wow! Just read page 38 of this paid report. The disclaimers just go on and on. Everyone needs to especially read the "DISCLOSURES as of JUNE 5th, 2017" section on page 38.
https://www.docdroid.net/zyTqPkf/northern-dynasty-minerals-limited-cantor-fitzgerald.pdf.html
Coeur to Present at Upcoming Conferences
http://ih.advfn.com/p.php?pid=nmona&article=74930004
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Coeur Mining Investor Presentation -
http://investors.coeur.com/Cache/1001224810.PDF?Y=&O=PDF&D=&fid=1001224810&T=&iid=4349317
Many a speculative investor has gone down in flames believing lock stock and barrel what a Company has to say when promoting itself. Remember however, It is not about lawsuits or geologists being dismissed as "TV Pundits", or facts and opinions on either side of an argument. It is about the share price.
Brent Cook, economic geologist, co-author with Exploration Insights, and Joe Mazumdar, co-editor with Exploration Insights discuss Northern Dynasy Minerals:
http://www.bnn.ca/market-call-tonight/brent-cook-and-joe-mazumdar-discuss-northern-dynasy-minerals~1072071
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Better warn him about this dismal share price first! LOL
I hear the Montanore mining folks in the state of Montana were also laughing and scoffing about "imaginary judges" too, right before this happened:
http://www.reuters.com/article/us-montana-mine-idUSKBN18R3D2
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Who said anything about shorting stocks. Shame about the stock price. All these "facts" and positive argument, and exhaustive rebottles of any contrary views have not seemed to have had the desired effect on the important thing, which is the stock price. I have never shorted a stock in my life. Flip them, yes. Short them, no. There seems to be an obvious paranoid obsession here about "shorts." However, you hear the same thing on just about every speculative stock board where the stock price steadily declines.
Keep believing that. Liberal Judges in California as well as Hawaii go rouge all the time. Just ask the Trump administration.
Regardless of location, all it takes is one Liberal Activist Judge to make a ruling, and projects can be stopped in their tracks. Even the President of the United States is finding that out.
This decision could set the precidence for future problems with activist judges blocking NAK -
Judge blocks Montana mine over environmental concerns
Wed May 31, 2017 | 7:02pm EDT
By Tom James
A federal judge in Montana has blocked the development of a contested mine next to a wilderness area in the northwestern part of the state, handing a victory to environmental activists who had argued the project could endanger grizzly bears and bull trout.
Citing the Endangered Species Act and other federal environmental laws in a pair of rulings late on Tuesday, U.S. District Judge Donald Malloy effectively canceled the U.S. Forest Service permit issued for the proposed copper and silver mine last year.
Environmental groups praised the decision.
"Yesterday's ruling underscores how wrong it is to site major industrial facilities on the doorstep of public wilderness lands that provide irreplaceable habitat for imperiled wildlife,” Katherine O'Brien, an attorney for several of the environmental groups involved in the case, said in an emailed statement following the ruling.
The Montanore mine had been planned by a subsidiary of Hecla Mining Co on the edge of the Cabinet Mountains Wilderness, part of the Rocky Mountains about 120 miles (190 km) north of Missoula.
The decision invalidates the current permit but does not prevent the company from reapplying for a new permit. Hecla is still deciding on its next steps and has not ruled out either appealing the judge's ruling or applying for a new permit, said Luke Russell, a Hecla spokesman, who called the decision disappointing.
Russell said company officials would seek a meeting with the federal agencies involved in the case in hopes of finding a way to move forward with the project.
Groups including Defenders of Wildlife and Earthjustice had sued to block the mine. They argued that its facilities would be located next to critical habitat for grizzly bears and bull trout, both endangered species, and that the mine would also drain millions of gallons from streams in the wilderness area.
The mine would have employed about 350 people during peak production, according to estimates cited in local news media, and required about 13 miles (21 km) of improved roads and 14 miles (23 km) of power lines, along with storage and treatment facilities for tailings and wastewater.
(Reporting by Tom James in Seattle; Editing by Patrick Enright and Jonathan Oatis)
http://www.reuters.com/article/us-montana-mine-idUSKBN18R3D2
Your position here is clear as well. I am not short NAK and never have been. I have no "bet" here as you do. I have owned NAK stock on a few occasions, trading it for timing gains, not married to it. I have however, unlike you, posted opinion and information here on both sides of the NAK debate, both pro and con. Mostly con however, after doing research on both sides of the NAK debate, and the documented NAK price declines support my DD, not yours. After all, it is always about the stock price, not how many "facts" on one side or another are presented.
Dismiss the opinions, based on the facts, of a well known economic geologist at your own risk. I prefer to take his advice over a poster on a message board. Many NAK investors who failed to consider anything except the positive "facts," while summarily dismissing the negative, have been decimated here.
Interesting article, however it is over four years old. Here is a more recent expert opinion:
Brent Cook and Joe Mazumdar discuss Northern Dynasy Minerals -
Brent Cook, economic geologist, co-author with Exploration Insights, and Joe Mazumdar, co-editor with Exploration Insights discuss Northern Dynasy Minerals.
http://www.bnn.ca/market-call-tonight/brent-cook-and-joe-mazumdar-discuss-northern-dynasy-minerals~1072071
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Judge blocks Montana mine over environmental concerns
Wed May 31, 2017 | 7:02pm EDT
By Tom James
A federal judge in Montana has blocked the development of a contested mine next to a wilderness area in the northwestern part of the state, handing a victory to environmental activists who had argued the project could endanger grizzly bears and bull trout.
Citing the Endangered Species Act and other federal environmental laws in a pair of rulings late on Tuesday, U.S. District Judge Donald Malloy effectively canceled the U.S. Forest Service permit issued for the proposed copper and silver mine last year.
Environmental groups praised the decision.
"Yesterday's ruling underscores how wrong it is to site major industrial facilities on the doorstep of public wilderness lands that provide irreplaceable habitat for imperiled wildlife,” Katherine O'Brien, an attorney for several of the environmental groups involved in the case, said in an emailed statement following the ruling.
The Montanore mine had been planned by a subsidiary of Hecla Mining Co on the edge of the Cabinet Mountains Wilderness, part of the Rocky Mountains about 120 miles (190 km) north of Missoula.
The decision invalidates the current permit but does not prevent the company from reapplying for a new permit. Hecla is still deciding on its next steps and has not ruled out either appealing the judge's ruling or applying for a new permit, said Luke Russell, a Hecla spokesman, who called the decision disappointing.
Russell said company officials would seek a meeting with the federal agencies involved in the case in hopes of finding a way to move forward with the project.
Groups including Defenders of Wildlife and Earthjustice had sued to block the mine. They argued that its facilities would be located next to critical habitat for grizzly bears and bull trout, both endangered species, and that the mine would also drain millions of gallons from streams in the wilderness area.
The mine would have employed about 350 people during peak production, according to estimates cited in local news media, and required about 13 miles (21 km) of improved roads and 14 miles (23 km) of power lines, along with storage and treatment facilities for tailings and wastewater.
(Reporting by Tom James in Seattle; Editing by Patrick Enright and Jonathan Oatis)
http://www.reuters.com/article/us-montana-mine-idUSKBN18R3D2
It was posted here on May 18, the day it was released.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=131473045&txt2find=Advisory|Committee
First Majestic Announce illegal Blockade at La Encantada
https://globenewswire.com/news-release/2017/05/24/995778/0/en/First-Majestic-Announce-illegal-Blockade-at-La-Encantada.html
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Once again, the short percentage you are quoting is incorrect. It is incorrect because it is not based on a correct share volume traded number. The naked short site you are looking at does not have the closing share traded volume listed correctly. The 56% number is based on 574,041 short volume against only 1,009,068 trading volume. The true trading volume today for NAK was 2,400,000. That puts the actual correct short percentage at 23.9%, not the 56% number you quote. Check out the site, and look at the trading volume and you will see that the trading volume has not been updated to todays correct trading volume.
http://nakedshortreport.com/?index=NAK
The shares shorted number on the site stays the same. It is the total trading volume that is is not reflected correctly until a few hours after closing. As an example, if you check the site initially after market close it will show an incorrect trading volume of lets say 2 million, and show a short number of lets say 600,000. The percentage of shorts will thus show to be high. Later, when they update to the correct trading volume, lets say 8 million, the short number shown remains the same at 600,000, and the short percentage is shown correctly, and is much lower. That is why the percentage changes. It has nothing to due with "failure to deliver".
You have to wait until after 7 or 8:pm to get the accurate trading volume numbers reflected in the stats. If you view the report early after market closing, the share volume is not yet accurately shown, but the short volume number is, thus the short volume is reflected as a much higher percentage number than it actually is, until the trading volume for the day is accurately reflected in the stats.
I doubt they will find a partner who would invest hundreds of millions if not billions of dollars until they would know for sure that these mandatory time consuming hurdles are able to be successfully completed. Until they do get a partner or partners, NAK will probably have to dilute heavily to finance these stringent requirements that will take years to complete -
http://www.northerndynastyminerals.com/i/pdf/ndm/2017-05-12-ndm-slides.pdf
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It is the percentage of the total volume that is important, not the number. The number is relative.
Naked Short was not 41%, it was 18.82% -
http://nakedshortreport.com/?index=NAK
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This one is a killer - extremely time consuming and leaves a lot of question marks for successful completion -
http://www.northerndynastyminerals.com/i/pdf/ndm/2017-05-12-ndm-slides.pdf
This is one reason the price crashed - The time frames are projected YEARS into the future and will cost a fortune -
Price fading. Looks like this might be a classic example of Buy on Rumor, Sell on News.
Short position is only 9% -
http://nakedshortreport.com/?index=NAK
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AG (First Majestic) for a pure silver play. They will be one of the stocks picked up by the GDXJ in June.
The price dropped in coordination with the Trading Halt in Northern Dynasty Minerals stock that was announced today. When the halt in trading was found to be only temporary, trading resumed and the price moved back up.
IIROC Trading Halt - NDM
PRNewswire
May 10, 2017 1:27pm
TORONTO, May 10, 2017 /CNW/ - The following issues have been halted by IIROC:
Company: Northern Dynasty Minerals Ltd.
TSX Symbol: NDM
Reason: Single-Stock Circuit Breaker
Halt Time (ET): 1:18 PM
IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - Halts/Resumptions
https://www.benzinga.com/pressreleases/17/05/n9439409/iiroc-trading-halt-ndm
View original content: http://www.newswire.ca/en/releases/archive/May2017/10/c6613.html
Great report. Earnings increased 50%. Cash rich with present and future silver exploration and production increases now happening going forward into 2018.
That is a huge gamble right now as GDXJ will be dumping up to 85 million shares of FFMGF soon. Depending on how that is done, it could very well crash the share price back to the .30's.
Seems you left out the part about each shareholder's share counts being decreased in 8 days as well.