{"id":1122070,"date":"2019-06-19T21:33:23","date_gmt":"2019-06-19T21:33:23","guid":{"rendered":"https:\/\/www.mining.com\/?p=994220"},"modified":"2019-06-19T21:33:23","modified_gmt":"2019-06-19T21:33:23","slug":"northern-dynasty-funds-next-steps-at-pebble-project","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1122070","title":{"rendered":"Northern Dynasty funds next steps at Pebble project"},"content":{"rendered":"<p>Vancouver-based\u00a0Northern Dynasty Minerals, sole owner of the Pebble project 300 km from Anchorage, has arranged a US$5 million bought deal financing that will allow it to continue the 2019 field program and complete the environmental impact statement for the world\u2019s largest undeveloped copper-gold deposit.<\/p>\n<p>The lead underwriter is Cantor Fitzgerald Canada. That company and a syndicate of underwriters has agreed to purchase 12.2 million common shares of Northern Dynasty at a price of US$0.41 each, for gross proceeds of US$5.0 million. The underwriters have been given an over-allotment of an additional 1.83 million shares worth another US$750,000. The underwriters will also receive a 6.0% commission on the gross proceeds. The deal is expected to close on June 24, 2019.<\/p>\n<p>Northern Dynasty says it continues to explore long term product financing options. Additional funding for the project is required by the end of 2019.<\/p>\n<p>When the preliminary economic assessment was delivered in 2011, the cost of the Pebble project was estimated at US$5.76 billion. That is likely to change as the project goes forward and is de-risked.<\/p>\n<p>Using a copper equivalent cut off of 0.3% for an open pit mine, the Pebble deposit has measured and indicated resources of 6.46 billion tonnes grading 0.40% copper, 0.34 g\/t gold, and 240 ppm molybdenum. The inferred resource is 4.45 billion tonnes averaging 0.25% copper, 0.25 g\/t gold, and 226 ppm molybdenum.<\/p>\n<p><em>This story first appeared in <a href=\"http:\/\/www.canadianminingjournal.com\/\">Canadian Mining Journal.<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>When the preliminary economic assessment was delivered in 2011, the cost of the Pebble project was estimated at US$5.76 billion.<\/p>\n","protected":false},"author":43,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369,4],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1122070"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1122070"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1122070\/revisions"}],"predecessor-version":[{"id":1122077,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1122070\/revisions\/1122077"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1122070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1122070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1122070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}