Northern Dynasty paid $12M (U.S.) in investment tranche

Executive Summary

• Northern Dynasty Minerals received the fourth $12 million tranche of a $60 million royalty investment, bringing total royalty cash received to $48 million.
• The company now has a strong treasury position with CAD 25.2 million (≈US 18.5 million) cash on hand after recent option and warrant exercises.
• Management continues to pursue government discussions to remove an “illegal veto” on the Pebble project and is filing opening briefs in related litigation by Oct. 3, 2025.

Key Details

• Royalty Agreement: Fourth tranche of $12 million paid under the July 26 2022 royalty agreement (amended).
• Total Received to Date: $48 million of a possible $60 million total purchase price.
• Future Right: Investor may elect to fund the fifth and final $12 million tranche any time up to Dec. 31 2025.
• Royalty Terms Unchanged: Right to purchase 10 % of payable gold production and 30 % of payable silver production.
• Cash Position: Second‑quarter closing cash balance of CAD 25.2 million (≈US 18.5 million) plus several million dollars from exercised stock options and warrants this summer.
• Government Discussions: Ongoing talks to withdraw an “illegal veto” that blocks development of the Pebble copper‑rhenium‑gold‑molybdenum‑silver project.
• Litigation Update: Northern Dynasty will join other plaintiffs (State of Alaska, Iliamna Natives Ltd., etc.) in filing opening briefs by Oct. 3 2025 to keep timelines tight and seek a prompt veto withdrawal.

Notable Quotes

“We appreciate the continued support from our royalty investor… This $12‑million investment … gives us a strong treasury position as we move the project forward.” – Ron Thiessen, President & CEO

“We continue to have discussions with the government about withdrawing the veto and remain optimistic for a positive outcome.” – Ron Thiessen, President & CEO