WEEKLY ONLINE NEWS STORY
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| February 27, 2014 --- Vol. 08, No. 09 | February 2014
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Alaska News Nuggets
RESIGNATION – Northern Dynasty Minerals Ltd. Feb. 21 reported that Stephen Scott has resigned as a director of the company. Scott, a general manager of Rio Tinto Exploration’s project generation group, was first appointed to Northern Dynasty board in 2007. His appointment to the board followed an investment that QIT-Fer et Titane Inc., an indirect wholly-owned subsidiary of Rio Tinto plc, made in Northern Dynasty. The Rio Tinto affiliate currently owns roughly 18.15 million common shares of Northern Dynasty, representing roughly 19.1 percent of that company’s issued and outstanding shares. In December, Rio Tinto announced that it is undertaking a strategic review, including a possible divestment, of its shareholding in Northern Dynasty. Rio Tinto’s announcement of the strategic review came just 10 days after the finalization of Anglo American’s withdrawal from the Pebble Partnership – a move that returned 100 percent ownership of the enormous Pebble copper-gold-molybdenum project to Northern Dynasty.
FINANCE – Redstar Gold Corp. Feb. 21 reported that it has agreed to sell to Renaissance Gold a digital copy of Redstar’s Nevada database acquired from Anglogold-Ashanti in 2006 for C$60,000. “This transaction combined with the True Grit-Nevada deal announced on Jan 27 provides significant upside to Redstar and allows us to focus our efforts on our flagship high-grade Unga gold project in Alaska,” said Redstar President R. Bob Singh. The Unga project consists of two properties located on the Alaska Peninsula: the Unga-Popof and Shumagin properties. In February, Redstar entered into a letter of intent to purchase full ownership of the Unga-Popof property from Full Metals Minerals Inc.
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