Loading ...Huge news in junior mining.
Frank Giustra, a highly successful and controversial mining financier, with ties to President Clinton, is getting behind one of the richest and arguably most controversial deposits in all of mining.
And of course I’m talking about Northern Dynasty Minerals’ (TSX:NDM) Pebble deposit in Alaska, vetoed under the Clean Water Act by the EPA in 2014.
Northern Dynasty is acquiring Mr. Giustra’s cashed-up shell company, Cannon Point Resources (TSXV:CNP), as part of up to $20 million in financings announced Monday. Based on a closing price for NDM of $0.45 Monday, Northern Dynasty is paying C$5.805 million in shares for Cannon Point’s $4.7 million treasury. Cannon Point is also loaning $4.25 million to Northern Dynasty during the merger process.
more http://ceo.ca/2015/08/10/alaskas-most-controversial-mining-project-welcomes-a-prominent-new-backer/