Northern Dynasty Completes $60M Royalty Investment, Increases Liquidity

Northern Dynasty Minerals Ltd. has received the final $12 million payment under a royalty agreement, bringing the total purchase price to $60 million. The agreement, which began in 2022, has improved the company's liquidity without issuing equity at depressed prices. The payment validates the company's decision and has allowed them to avoid significant dilution to shareholders.

Northern Dynasty Minerals Ltd. (TSX:NDM)(NYSE American:NAK) has received the final $12 million payment under its royalty agreement, bringing the total purchase price to $60 million. The agreement, which began in 2022, has significantly improved the company's liquidity without issuing equity at depressed prices. The payment validates the company's decision and has allowed them to avoid significant dilution to shareholders.

The royalty agreement, dated July 26, 2022, and amended as necessary, was completed on October 20, 2025, well before the December 31, 2025 deadline. The maximum royalty rates under the original agreement are now in effect, granting the royalty holder the right to receive 10% of the payable gold production and 30% of the payable silver production from the Pebble Project, according to a StockTitan report.

Ron Thiessen, Northern Dynasty's President and CEO, stated, "With this final $12 million investment, we have completed the royalty investment program that began in 2022. We embarked on this program because we saw it as an opportunity to improve our liquidity without issuing equity at what we considered depressed prices. In retrospect, our decision has been validated as our share price has increased more than five-fold since entering into the agreement in 2022 when our share price was depressed, and as a result, we have avoided significant dilution to shareholders", as reported in a Mining.com press release.

The company is pleased with the strong liquidity position it has achieved and is continuing to push for the withdrawal of the illegal veto and the advancement of the project through permitting.