Northern Dynasty Minerals Ltd. (USA) (NAK)

TMFSinchiruna (< 20) Submitted: 4/17/08 5:54 PM : Start Price: $9.89 NAK Score: -30.63

Investment Highlights
The Pebble Project is one of a very few advanced stage, world-class
mining projects available to fi ll the widening gap between copper
demand and supply – and Pebble is located on American soil.
Between 2002 and 2007 Northern Dynasty invested US$180 million
exploring and developing the Pebble Project. In July 2007, an affi liate of
Anglo American plc acquired a 50% partnership interest in the Project by
investing the next US$1.425 billion in project development costs.
Northern Dynasty owns an equal 50% interest in the Pebble Limited
Partnership and is carried during Anglo’s investment period. Plans are for
Anglo to spend US$180 million to complete a pre-feasibility study, US$270 million
for a feasibility study and US$975 million for mine construction.
In addition, at a corporate level an affi liate of Rio Tinto plc has purchased
a threshold 19.8% share position and Mitsubishi Corporation has
announced the purchase of a 9.1% shareholding in Northern Dynasty.
Two major copper-gold-molybdenum deposits have been discovered.
Pebble West is a 4.1 billion tonne open pit style deposit. Pebble East is a 3.9 billion
tonne deposit, which is amenable to underground block caving. It is wide open to
further expansion and drilling is ongoing. A total of 667,000 feet of core drilling
in 477 holes has been completed in the deposits.
The Project is on state land designated for mineral exploration and
development. Comprehensive environmental and socioeconomic baseline data
collection has been ongoing for four years with an investment so far of US$87
million. Permitting is planned to commence in late 2009.
Community support is important for the successful development of
a new mine. Since 2002, local communities and other stakeholders have been
engaged to share information about the Pebble Project. The goal is to design a mine
that will maximize benefi ts for local communities, including local hire and business
development, while protecting important natural resources, environmental values,
and traditional ways of life.

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