Investors sue parent company behind gold mine in Alaska

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The company behind a proposed copper and gold mine in Alaska faces lawsuits from investors claiming it misled shareholders who have seen an 85 per cent drop in stock value since the summer.

In this July 13, 2007, file photo, a worker with the Pebble Mine project digs in the Bristol Bay region of Alaska near the village of Iliamma, Alaska. ANCHORAGE, ALASKA -- The company behind a proposed copper and gold mine in Alaska faces lawsuits from investors claiming it misled shareholders who have seen an 85% drop in stock value since the summer.

Developer The Pebble Limited Partnership and parent company Northern Dynasty Minerals Ltd. sought to build a mine about 200 miles southwest of Anchorage and near the headwaters of the world's largest sockeye salmon fishery in Bristol Bay. The U.S. Army Corps of Engineers in late November denied a permit request, causing the company stock to lose half its value that day alone. Pebble Limited Partnership said it is appealing that decision, calling the rejection political.

 

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Gotta be careful with those pink slips. Trick is to avoid “FOMO” the fear of missing out syndrome. When you find a good stock you like, read all you can before purchasing your slice of that company. When you do, make sure it’s way down from the price you liked it at originally.

Bre-X 2.0

And who cares?

Looks like a high tech operation

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