Resource Junior Jumps on Environmental Update

Northern Dynasty Minerals Ltd. (TSX:NDM), a resource junior, gained ground after receiving a positive letter from the U.S. Environmental Protection Agency (EPA)

Sean Mason | May 29, 2020 | SmallCapPower

An EPA letter provided a dose of optimism for investors in a resource junior Friday. Here’s some small stocks making big moves on Friday, May 29, 2020 (as of 4 pm EST):

Northern Dynasty Minerals Ltd. (TSX:NDM) shares climbed 13% to $1.78 on Friday after the resource junior announced that a letter issued by the U.S. Environmental Protection Agency (EPA) confirming the Environmental Impact Statement (EIS) process for the Company’s proposed Pebble mine in Alaska is “proceeding well,” and effectively addressing all issues and concerns raised by EPA, the U.S. Fish and Wildlife Service and other cooperating agencies.

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As well, shares of Laurentian Bank of Canada (TSX:LB) slipped 9% to $28.44 as the financial institution said it will reduce its quarterly dividend by 40% to $0.40 per share.

Thunderbird Entertainment Group Inc. (TSXV:TBRD), meanwhile, reported a 40% increase in its third-quarter revenue to $29.3 million, along with a 45% surge in its quarterly Adjusted EBITDA to a record $6.9 million. Thunderbird Entertainment stock moved up 11% to $1.30 following the announcement.

Finally, Reliq Health Technologies Inc. (TSXV:RHT) shares fell 15% to $0.33 after the mobile health and telemedicine solutions provider announced a 359% year-over-year increase in its third-quarter revenue. The Company added that it doesn’t expect to need to raise funds to reach profitability in Calendar Year 2020.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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