Short-seller JCAP has a new exploration and development company in its sights – Toronto-listed Northern Dynasty, which is seeking to build the contentious Pebble copper/gold project in Alaska.
The company on Wednesday published a scathing report on Northern Dynasty, charging that the developer is “gaslighting investors”, underestimating the capital cost of the project, that Pebble is not economically viable and that it faces “near certain cancellation” if Joe Biden were to be elected President of the US.
JCAP claims that management is in it for the money, as bonuses will be paid once Pebble wins a green light to start the permitting process.