Calif Bill wrote:

The mining company is Canadian.

Northern Dynasty Minerals, as part of the privately-held holding
corporation Hunter Dickinson, Inc., is "Canadian" about as little
(though in a very different way) as Exxon is "American".

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From http://www.resourceinvestor.com/pebble.asp?relid=12532 :

Corporate Structure

When relating Hunter Dickinson's corporate structure, [CEO] Thiessen
likes to clear up any inconsistencies right away. Hunter Dickinson Inc.,
he explained, is not actually owned by the principals commonly
associated with the company. Instead, it is owned by the publicly-traded
companies that HDI manages. But because Hunter Dickinson's principals
are all major shareholders in HDI's publicly-trade affiliates, this line
can easily be blurred.

Truth be told, Hunter Dickinson's corporate structure was probably first
devised to benefit its principals. Thiessen himself alluded to this
fact, noting that the company's multiple equity structure "does a lot
for better tax planning for the principals; it allows us to plan our
lives better."

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A model of corporate transparency.