Northern Dynasty Minerals (NYSE:NAK) closed sharply lower on Thursday, losing 31% after insider trading disclosures revealed share sales by key executives. The selloff erased gains following the July 4 announcement that the company is in talks to potentially resolve a legal standoff with the Environmental Protection Agency (EPA) over the copper-gold-molybdenum Pebble project.
Early this month, the stock surged to as high as $2.40 after disclosing the EPA talks, resulting in year-to-date gains of over 300%. A potential regulatory breakthrough for the Pebble deposit, widely regarded as one of the largest undeveloped copper and gold projects globally, rallied investors.
