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News Breaks | | | | November 15, 2012 | | 16:39 EDT |  | NAK | Northern Dynasty receives settlement of loan and terminates option
Northern Dynasty Minerals announces that Northern Dynasty and Liberty Star Uranium & Metals have reached agreement to settle the loan owing by Liberty Star to Northern Dynasty in the principal amount of $3.73M plus interest, in consideration for the transfer by Liberty Star to a U.S. subsidiary of Northern Dynasty of 199 Alaska mineral claims, totalling 30,640 acres, that are located north of the Pebble Project. As part of the loan settlement agreement, all other agreements and negotiations between the parties have been terminated, including negotiations relating to an option for Northern Dynasty to acquire 60% of Liberty Star's Big Chunk mineral claims located in Alaska. | |
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