"...527 million tonnes of Measured resources grading 0.33% Cu, 0.35 g/t Au, 178 ppm Mo and 1.66 g/t Ag and 5.9 billion tonnes of Indicated resources grading 0.41% Cu, 0.34 g/t Au, 245 ppm Mo and 1.66 g/t Ag. David Gaunt, PGeo., a Qualified Person who is not independent of Northern Dynasty is responsible for the estimate."
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NR here. As for the fun bits, there are several:
1) My very favourite, voluntarily highlighting that in the two decades of exploration life Pebble has only ever had one PEA published on it. If Pebble really is a World Class deposit with all superlatives attached that sure is a weird way of going about your mining business, Canada.
2) Calling TD Sec independent. That's like calling Canadian sell side brokerages honest.
3) Calling Stansberry Research independent. That's like calling Allan Barry a qualified geologist, an engineer, a lawyer, a Spanish speaker, not lonely, sober.
4) Calling John Tumazos independent, when Tumazos readily admits he owns around 120,000 shares of NAK (please note NAK did not seek permission to quote Tumazos).
5) Pretending that Pebble isn't low grade. They even put the phrase between speech marks as an attempt to mock Kerrisdale, that's just plain funny. Now scamsters like the proven securities fraudster Porter Stansberry and the proven liar Marin Katusa can pull all the wool over the eyes of greenhorns that they want, but people living out here in the real world know that a resource like this...
...can only be described as low grade. And again, note that even after two decades of work there is no economic reserve. That's crazy.
6) Quoting Anglo American on the official reason they dumped Pebble. I mean, what did you expect from Cutifani, something along the lines of "Yeah we ploughed $600m into the thing before realizing how uneconomic it is so better late than never"?
7) And of course they still don't mention that thing about how the gold doesn't report to the copper conc or circuit. Bless em.
Overall, this is a weak response to the Kerrisdale short attack. It might fool the mouthbreather end of the market for a day or so, but they ain't fooling anyone with a couple of mining neurons to rub together. Disclosure: no position at all in NAK.