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Northern Dynasty Enters into Framework Agreement with First Quantum Minerals
Northern Dynasty Enters into Framework Agreement with First Quantum Minerals Canad...
About this update from Northern Dynasty Minerals Ltd.
[{"type":"text","content":"\n\n\n\nNorthern Dynasty Enters into Framework Agreement with First Quantum Minerals\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Dec. 18, 2017\n\n\n\nOption to Acquire 50% Ownership of Pebble Limited Partnership for US $1.5 Billion with Initial Staged Option Payments Totalling U$150 Million over Four Years\n\n\n\nVANCOUVER, Dec. 18, 2017 /CNW/ - Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE MKT: NAK) (\"Northern Dynasty\" or the \"Company\") announced today that it has entered into a framework agreement with First Quantum Minerals Ltd. (\"First Quantum\") (TSX: FM) which contemplates that an affiliate of First Quantum will subsequently execute an option agreement with Northern Dynasty. The option agreement contemplates an option payment of US$150 million staged over four years which option will entitle First Quantum to acquire the right to earn a 50% interest in the Pebble Limited Partnership (the \"Pebble Partnership\") for US$1.35 billion.  The option period may be extended for up to 2 years by First Quantum making payments to be agreed upon which amounts will be offset against the $1.35 billion additional investment amount. Within five business days of the execution of the framework agreement, First Quantum will make an early option payment of US$37.5 million (\"Early Option Price Installment\") to Northern Dynasty.  The Early Option Price Installment will be applied solely for the purpose of progressing the permitting of the Pebble Project.  \n\nThe entry by First Quantum into the option agreement is contingent upon the completion of due diligence, necessary regulatory approvals being obtained and the successful negotiation of the final form of the option agreement and associated commercial agreements. Finalization and execution of the option agreement and associated commercial agreements is expected early in the second quarter of 2018.  Investors are cautioned there is no assurance that a transaction will be entered into at the end of the process.\n\n\"We have made good prog...