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I Bought NAK at $1.11 → Here’s Why

Posted September 29, 2025

Davis Wilson

By Davis Wilson

I Bought NAK at $1.11 → Here’s Why

On Friday, I made one of the riskiest moves yet in my Million Mission portfolio.

I bought 5,000 shares of Northern Dynasty (NAK) at $1.11 each.

If you’ve followed me for a while, you know I like to swing big when the potential reward justifies the risk.

And that’s exactly the case here.

Northern Dynasty isn’t a typical investment.

It is a high-stakes bet on the future of U.S. resource security.

The Pebble Project: One of the Largest Untapped Resources in the World

Northern Dynasty is a small Canadian mining company with one asset: the Pebble Project in southwest Alaska.

This single project is why investors either love or hate the stock.

Pebble is enormous.

According to resource estimates, it contains more than 80 billion pounds of copper, 100 million ounces of gold, and significant amounts of molybdenum, silver, and other minerals.

It is one of the largest undeveloped mineral deposits on the planet.

On paper, that makes Northern Dynasty a potential jackpot.

In practice, however, Pebble has been one of the most controversial mining projects in North America for decades.

Why Pebble Hasn’t Been Developed

The challenge is not the size of the deposit. It is the location.

Pebble sits near Bristol Bay, home to one of the world’s most productive salmon fisheries.

Environmental groups argue that a mine of Pebble’s scale could threaten the salmon population and local communities that rely on it.

For years, the project has faced lawsuits, protests, and political opposition.

The U.S. Environmental Protection Agency (EPA) has repeatedly attempted to restrict or block development.

In 2023, the EPA issued a determination under the Clean Water Act that sharply limits mining in the region, putting Pebble at a standstill.

That regulatory pressure is why Northern Dynasty’s stock has spent years swinging between speculative rallies and steep selloffs.

Investors bid it up whenever hope for approval rises, only to watch it collapse when opposition wins out.

So Why Am I Buying NAK Now?

The U.S. is entering a new era when it comes to critical resources.

Copper is absolutely essential to the future economy.

  • Electric vehicles require four times as much copper as gas-powered cars.
  • Renewable power infrastructure is copper intensive.
  • Even AI data centers rely heavily on copper.

At the same time, supply growth is slowing.

Existing mines are depleting and new mines take decades to bring online.

This tightening supply comes as demand continues to rise.

This imbalance makes domestic deposits like Pebble more strategically important.

There is also a new legal backdrop to consider.

The Supreme Court recently overturned the Chevron doctrine, which for decades gave federal agencies broad authority to interpret ambiguous laws.

With the Chevron doctrine gone, courts are less likely to automatically defer to agencies like the EPA.

This could open the door for legal challenges against the EPA’s restrictions on Pebble and it may limit the agency’s ability to impose similar broad bans in the future.

Add to that the policy momentum: Former President Trump has emphasized reshoring U.S. supply chains and has supported the idea of government equity stakes in critical resource companies.

We have already seen examples with MP Materials (MP) and Lithium Americas (LAC).

If that same mindset is applied to copper, Pebble could shift from a political liability to a strategic asset.

NAK is a Bet I’m Willing to Take

Northern Dynasty trades as if Pebble will never be built – and that may ultimately prove true.

But that disconnect is what makes the stock interesting.

Because if circumstances change (even slightly) the re-rating could be enormous.

The Supreme Court’s shift on Chevron, a change in political leadership, or a renewed push for domestic copper could all move the needle.

That’s why I bought 5,000 shares at $1.11.

NAK is a high risk bet with asymmetric upside potential.

This is exactly the type of stock I want in my Million Mission portfolio.

Stay tuned as I track the news flow and look to buy more on pullbacks.

Is NAK Safe?

Is NAK Safe?

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