Many of my subscribers asked my view on Northern Dynasty (NAK), developer of the Pebble copper-gold-moly-silver deposit in the Bristol Bay are of southwest Alaska. I figured newsletters were pumping it. I owned NAK for brief period in 2004 before I decided I didn’t like the way it “smelled.” Thirteen years later it smells just as bad.
I found out the Stansberry/Casey marketing juggernaut team was pimping NAK, as well as Martin Katusa and Rick Rule. Upon a closer look, I could not find one redeeming reason to own NAK. If I had looked at it when it was trading at $3.40 at the end of January, I would have put it in my Short Seller’s Journal (NAK is now at $1.61 and likely headed toward zero). I also knew Kerisdale Capital recently slammed NAK, but after the firm’s highly misleading and incorrect hatchet-job on First Majestic, I don’t trust Kerisdale.
Over the years, I have learned the hard way that “holy grail” projects in geographically difficult areas enveloped with an extreme degree of political risk have a high probability of ending with a bad result for my investment. NAK is one of these situations that I am recommending that subscribers avoid. – Excerpt from the latest issue of the Mining Stock Journal
In this week’s issue of the Mining Stock Journal, I present several compelling reasons why NAK is likely nonviable. You can read my analysis plus receive all of the back-issues using this link: Mining Stock Journal
Your review of NAK is quite timely, given a class action lawsuit, a Seeking Alpha analysis, and the fact it was highly promoted at the 2015 Silver Summit in SF which I witnessed personally. The NAK website has Stansbury and others refuting the Seeking Alpha article. On Tuesday of this week, I got the bright idea to buy a few shares after it was beat up 50%, but now realize it may be a falling knife. I got the information on this company two years ahead of time, but never bought until Tuesday just because I thought it must have value as Casey, Rule and others put so much faith in the idea, and the fact Trump has been favorable to mining permits in Alaska. Keep up the magnificent work! – from subscriber “James”