Northern Dynasty Minerals Ltd (NDM.TO)

They have been fighting being stopped in the permitting cycle. The short sellers say this thing is not economic, but others point to Trump’s changes to the EPA and how it will speed up permitting. He thinks it will still take years. He thinks the rally is over.

This has the Pebble deposit which has about 90 million ounces of resources, and copper to match that. It has been promoted pretty heavily as the Trump gold play, with the idea that with deregulation being easier, it will be permitted. You need to be aware that these mega projects are in the middle of nowhere in Alaska, the headwaters of the largest Salmon fisheries in North America. A difficult place to build a tailings facility. The CapX needed is $8-$12 billion. It has to include a deep-water port, a pipeline, energy, a road, plus all the infrastructure on-site. There is not enough detailed work done on this to make an assessment to decide if this is really economic or not.

We had a shot up post-Trump and then we see that rocket up (a triple). When you have these kinds of news, it can go parabolic. Only take a partial position.

A textbook Trump mining stock. The biggest undeveloped copper asset globally. It is just trying to reorganize the EPA. (Analysts’ price target is $2.00.)

(A Top Pick Aug 11/15. Up 142.5%.) A wonderful deposit in northern Alaska, but challenged going forward. They are looking for a legal solution to what is a sociological problem. They have run into substantial opposition from the US government as well as from 1^st Nations groups. He sold his holdings.

This is a stock that the market hates. It is involved in a political and legal dispute in Alaska. A wonderful big copper/gold deposit. Extraordinary leverage to the political settlement. What needs to happen is that management needs to engage better with their regional First Nations. If they do that, the political problem goes away.

The project is very large and expensive, and he has difficulty with the feasibility of it. There are others you can invest in, without having to painfully wait it out.

Has 2 large deposits, one in Alaska and one in British Columbia. Doesn’t think either of the deposits will be developed this cycle, but does think that the optionality offered by the deposits, the way they become economic at higher gold prices, is attractive. Your risk is that they are spending $2 million a month, which is difficult to do with no revenues.

Nothing is happening short term. Longer term they will probably be fabulous. He thinks it will get into operation eventually.

Really an option play on the resources in the ground for copper and gold. Are they going to get permit and are they going to get built? His suspicion is that the answer would be No. There is also a legal battle with the EPA.

This is going to take a long, long time. There are issues with salmon fisheries and so on.

Has averaged down on his shares. They are fighting in order to get started in Alaska, which is probably the world’s greatest undeveloped copper/gold asset.

This is one of the greatest copper prospects globally, that has been beset by environmental type problems. Some good bits of action have been coming lately to this company. There is a slow process of trying to break out of this dreadful situation, where Alaska wants it, the population wants it and most of the native population wants it. However, rich men sitting elsewhere, don’t want it. This is one he is being patient with, and you have to have a few of those.

Pretty hard to turn this one around. Very low grade gold/copper project and requires a very large CapX. Just discontinued their dividend.

Very low grade deposit but a very large resource. We need higher copper prices. If copper were to stay at around $3.10-$3.30, she doesn’t see this project going forward. You probably need $3.75-$4 to make the stock work.