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Eric Sprott‘s Sprott Asset Management has acquired 14.72 million common shares of Northern Dynasty Minerals Ltd (NYSEMKT:NAK), which amass 5.4% of the company’s total outstanding stock, according to a recent 13G filing with the SEC. The stake represents a new addition to the portfolio of Sprott Asset Management, which is led by famed gold and minerals investor Mr. Sprott.
Northern Dynasty Minerals is a mineral exploration company that holds the greatest interest in exploring a mineral property located in Alaska, where it is working on a big project called “Pebble Copper-Gold-Molybdenum Project”. Since the beginning of the year, the company’s stock has gained 38.24%. At the end of June, TD Securities reiterated its ‘Hold’ rating on the stock, and has a price target of $0.60 on it. Recently, the company reported its financial results for the first quarter of 2016 in which it disclosed a loss per share of CAD$0.04 ($0.03), down from a loss per share of CAD$0.05 ($0.04) for the same period of the previous year.
According to Insider Monkey’s hedge fund database, three investment firms were long Northern Dynasty Minerals (NYSEMKT:NAK) at the end of March, a dip from four funds long the stock a quarter earlier. Investors that were bullish on the stock consisted of David Iben’s Kopernik Global Investors, which held a position worth $2.1 million, Joseph Oughourlian and Michel Brogard’s Amber Capital, and Paul J. Isaac’s Arbiter Partners Capital Management.
The hedge fund that dumped Northern Dynasty Minerals (NYSEMKT:NAK) from its portfolio in the first quarter was Israel Englander’s Millennium Management, which sold off a position worth $200,000.
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Under the Securities Exchange Act of 1934
Northern Dynasty Minerals Ltd.
(Name of Issuer)
(Title of Class of Securities)
June 30, 2016
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
[ ]Rule 13d-1(b)
[ X ]Rule 13d-1(c)
[ ]Rule 13d-1(d)
CUSIP No. 65510M204
1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
NUMBER OF 5. SOLE VOTING POWER
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 0
EACH 7. SOLE DISPOSITIVE POWER
PERSON 8. SHARED DISPOSITIVE POWER
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
12. TYPE OF REPORTING PERSON*
(a) Name of Issuer: Northern Dynasty Minerals Ltd.
(b) Address of Issuer’s Principal Executive Offices:
15th Floor – 1040 W. Georgia St. Vancouver, BC V6E 4H1
(a) Name of Person Filing: Sprott Inc.
(b) Address of Principal Business Office:
200 Bay Street, Suite 2700, PO Box 27, Toronto, ON M5J 2J1
(c) Citizenship: Canada
(d) Title of Class of Securities: Common Shares
(e) CUSIP Number: 65510M204
Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b),
check whether the person filing is a:
(a) [ ] Broker or dealer registered under section 15 of the Act
(15 U.S.C. 78o).
(b) [ ] Bank as defined in section 3(a)(6) of the Act
(15 U.S.C. 78c).
(c) [ ] Insurance company as defined in section 3(a)(19) of the Act
(15 U.S.C. 78c).
(d) [ ] Investment company registered under section 8 of the Investment
Company Act of 1940 (15 U.S.C. 80a-8).
(e) [ ] An investment adviser in accordance with ss. 240.13d-1(b)(ii)(E).
(f) [ ] An employee benefit plan or endowment fund in accordance with
(g) [ ] A parent holding company or control person in accordance with
(h) [ ] A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813).
(i) [ ] A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3).
(j) [ ] Group, in accordance with ss. 240.13d-1(b)(1)(ii)(J).
Item 4. Ownership
(a) Amount Beneficially Owned: 14,724,500
(b) Percent of Class: 5.4%
(c) Number of shares as to which Sprott Inc. has:
(i) Sole power to vote or to direct the vote: 14,724,500
(ii) Shared power to vote or to direct the vote: 0
(iii) Sole power to dispose or to direct the disposition of: 14,724,500
(iv) Shared power to dispose or to direct the disposition of: 0
Item 5. Ownership of Five Percent or Less of a Class:
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more
than five percent of the class of securities, check the following. [ ]
Item 6. Ownership of More than Five Percent on Behalf of Another Person:
These shares are held in accounts managed by subsidiaries of
Sprott Inc., none of which, beneficially owns more than five percent
of the class.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company:
Item 8. Identification and Classification of Members of the Group:
Item 9. Notice of Dissolution of Group:
Item 10. Certification:
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were not
acquired and are not held for the purpose of or with the
effect of changing or influencing the control of the issuer
of the securities and were not acquired and are not held in
connection with or as a participant in any transaction
having that purpose or effect.
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