Northern Dynasty: Falls on co response to short seller report on Pebble Mine

Northern Dynasty Minerals

10/09/2020 18:13

** Shares of Canadian miner  NDM.TO  fall 3.5% to C$1.38 on
short seller report 
    ** Co responds to report issued by J Capital Research
calling it "fatuous, flimsy and fundamentally self-serving"
 urn:newsml:reuters.com:*:nNDL3pwZGp
    ** "We will take an appropriate amount of time to review the
report and the market's reaction to it, if any" - NDM President
and CEO Ron Thiessen
    ** J Capital's report titled "Pretend & Extend: The
No-Return Deposit" alleges NDM's Pebble Mine project will lose
money, leave investors with stranded asset and be "canceled
anyway if Joe Biden is elected" (https://bit.ly/3hiEja6)
    ** We believe deposit cannot be mined profitably and mining
majors Anglo American and Rio Tinto know that - report
    ** There have been growing doubts if NDM can clear
regulatory hurdles for project  urn:newsml:reuters.com:*:nL1N2FR1O4
    ** The mine, with one of world's largest copper and gold
deposits, has seen multiple regulatory roadblocks over past 13
years  urn:newsml:reuters.com:*:nL1N2FR1JK

 (Reporting by Shruti Sonal in Bengaluru)
 ((Shruti.Sonal@thomsonreuters.com; Twitter: @shrutisonal26))