Northern Dynasty Minerals (NYSEAMERICAN:NAK) stock is on the rise Thursday following a Tweet from President Donald Trump.
Here’s what the President had to say on Twitter.
“Don’t worry, wonderful & beautiful Alaska, there will be NO POLITICS in the Pebble Mine Review Process. I will do what is right for Alaska and our great Country!!!”
The Pebble Mine in the Tweet refers to a location that Northern Dynasty Minerals has been planning. It holds a mineral deposit that the company wants to excavate. There were previously concerns that the Trump Administration was going to block the project.
The idea that the Trump administration would block the mine came from a Tweet made by Donald Trump Jr. last month. Northern Dynasty Minerals claimed that this wasn’t the case but that didn’t stop concerns about a possible end to the project, reports The Motley Fool.
This was what the President’s son Tweeted out at that time.
“As a sportsman who has spent plenty of time in the area I agree 100%. The headwaters of Bristol Bay and the surrounding fishery are too unique and fragile to take any chances with. #PebbleMine.”
With President Trump’s Tweet yesterday, it looks like investors in Northern Dynasty Minerals stock won’t have to worry about the Trump Administration putting an end to the project. As such, shares of NAK stock have been heading higher today.
NAK stock was up 16.1% as of Thursday afternoon.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.