TheStreetSweeper Cautious on Northern Dynasty Minerals (NAK)
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TheStreetSweeper issues a negative report on Northern Dynasty Minerals (NYSE: NAK):
*Every big early investor has dumped every share of NAK. Getting new, reputable investors will be difficult if not impossible.
*NAK has been unprofitable since inception 33 years ago.
*Losses are astronomical, approaching $34 million just in the last year.
*NAK paid $10 million for two years of services from a private company controlled by NAK insiders.
*NAK exists on stock offerings.
*Another potentially dilutive offering looms as NAK burns up proceeds of last summer's offerings.
*Controversy continues at the Pebble Mine project and we believe NAK will never get key permits, and not one ounce of ore, not one ounce of copper or any other mineral will ever be produced by NAK.
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