Northern Dynasty: Second Tranche of Amended Royalty Agreement Completed with Receipt of US $10 Million

About this update from Northern Dynasty Minerals Ltd.

[{"type":"text","content":"Northern Dynasty: Second Tranche of Amended Royalty Agreement Completed with Receipt of US $10 MillionVANCOUVER, BC / ACCESSWIRE / July 25, 2024 / Northern Dynasty Minerals Ltd. (TSX:NDM)(NYSE American:NAK) (\"Northern Dynasty\" or the \"Company\") reports it has received the remaining $10 million royalty payment under the second tranche of the Company's royalty agreement dated July 26, 2022 (the \"Royalty Agreement') and the amended Royalty Agreement (the \"Amendment\") dated November 13, 2023. All currency figures are U.S. dollars.Under the Amendment, the royalty investor (the \"Royalty Holder\") received the right to fund the second $12 million tranche in six equal installments of $2 million in exchange for the right to receive approximately 0.33% of the payable gold production and 1% of the payable silver production from the Pebble Project per each additional payment installment made (representing 1/6 of the aggregate royalty under the second tranche). Northern Dynasty received the first $2 million upon execution of the Amendment, as reported in the Company's November 13, 2023 news release.As the Royalty Holder has now completed all six installments (for a total of $12 million) of the second tranche on or before July 26, 2024, the balance of the completion of the Royalty Agreement has been extended until July 26, 2025 as agreed to under the Amendment. The remaining three tranches of $12 million each, as described in the Company's July 27, 2022 news release and its recent Q1 2024 MD&A, have not been similarly subdivided, and the aggregate total purchase price of $60 million and maximum royalty rates (10% of payable gold production and 30% of payable silver production) remain unchanged from the original Royalty Agreement.\"We are pleased that the investor has completed the second of five $12 million tranches,\" said Ron Thiessen, President and CEO of Northern Dynasty Minerals. \"As a result, the expiration date has been extended for one year, by which time we could receive the additional $36 million investment from the remaining three tranches contemplated in the original royalty agreement. Meanwhile we will continue to advance responsibly and reasonably the Pebble Project, one of the most important minerals and metals deposits in the world, with standards that assure the environment and regional fisheries are safeguarded ...

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