Fairfaxnews just came across BNN, they are closing out their short positions due to fundamental changes in the US specifically lessening corparate taxes and loosening regulations. "Prem Watsa, generally recognized as Canada’s most famous investor, is dropping his bearish stance on the markets. The CEO of Fairfax Financial has decided to yank his firm’s equity hedges after suffering a $1.07-billion net loss on its investments in the fourth quarter, and an even greater loss for all of 2016."
Does this mean NDM is building a mine tomorrow, or ever? No, but it allows for speculative buying because it could move forward.