Here's Why Northern Dynasty Minerals Popped 14% in October

Here's Why Northern Dynasty Minerals Popped 14% in October

Shares of Northern Dynasty Minerals (NYSEMKT: NAK), a mineral exploration and development company, climbed more than 14% last month after the company released an announcement that stoked investors' confidence. Furthermore, a positive analyst's rating on the stock suggested that the company was making progress in its plan to bring the Pebble Project to fruition.

Northern Dynasty's success predominantly relies on its ability to develop the Pebble Project, which the company touts on its website as "the world's largest undeveloped copper and gold resource." Northern Dynasty maintains 100% ownership of the project, having ended a partnership with AngloGold Ashanti, which had spent about $573 million on the project's development -- in 2013.

Image source: Getty Images.

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Source: Fool.com