Northern Dynasty Minerals Ltd (NAK)

[TheEndisNear]

True, but incomplete. FM paid $150M for the right to buy the new issue. Yes, that means double the float, but it also requires laying out another $1.35B cash.

According to Hunter D's Due Diligence, NAK is worth $12.10/share at the current stage of development and at present float, so $6.05/share after 2x dilution.

That's obviously a "de-risked" development price, which is why FM "only" put 10% of their cash outlay down, up front. "Only" $150M.