Why Northern Dynasty Limited Stock Rocketed 14% in Early Trading Tuesday
Shares of Northern Dynasty Limited (NYSEMKT: NAK) are on a two-day bender. On July 6 the stock gained around 15%, with early trading on July 7 adding another 14% or so. That's a roughly 30% price gain in less than two trading days. Wow! The backstory here, however, is very important.
Northern Dynasty Limited's primary asset is the Pebble Project, which is a large mine development with substantial gold and copper deposits. The company has been working for years to get through the permitting process so it can build a mine, but has been facing opposition from environmentalists and local residents. It's been a difficult process, to say the least, but over the past year or so it has begun to look more and more like the project will get approved.
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Source Fool.com
