February 14, 2017 / 5:45 PM / a year ago

BUZZ-Northern Dynasty Minerals: "Worthless", says short-seller Kerrisdale

** Shares of Canadian company slump 27.9 pct to $3.02; touch more than a month low

** Kerrisdale Capital, which is short on the stock, calls the company, which owns the Pebble deposit, an undeveloped copper and gold resource in Alaska, “worthless”

** "The upfront capital costs necessary to build and operate the mine (Pebble deposit) are so onerous that the mine isn't commercially viable," short-seller Kerrisdale Capital said in a report titled "Cu at Zero" (bit.ly/2kGx8fb)

** Anglo American pulled out of the Pebble copper project in 2013, while Rio Tinto gave away its 19.1 pct stake in Northern Dynasty Minerals in 2014

** Up to Monday’s close, Northern Dynasty’s stock had risen more than four-fold since Donald Trump’s election, as investors focused on his promise of lighter regulations

** Northern Dynasty was not immediately available for comment

** The only analyst covering stock has a “hold” rating and a PT of $5, according to TR data

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