- Mining investors know what a challenging time for the industry this is and York Harbour Metals sought to put shareholders at ease
- In an open letter, the company’s interim CEO and president Blair Naughty explained that his primary focus since taking over has been to implement changes to steer the ship towards growth and sustainability
- The stock has fallen significantly since its C$1.48 peak in April 2022, losing C$1.40 of its value in that time
- York Harbour Metals stock opened at $0.075 per share
Mining investors know what a challenging time for the industry this is and York Harbour Metals (TSXV:YORK) sought to put shareholders at ease.
In an open letter, the company’s interim CEO and president, Blair Naughty acknowledged the significant transitions the team has endured and explained that his primary focus since taking over has been to implement changes to steer the ship towards growth and sustainability.
This included moves to reduce the company’s burn rate and CEO Naughty added that the team has initiated discussions with potential partners and are exploring all avenues to advance its projects.
The stock has fallen significantly since its C$1.48 peak in April 2022, losing C$1.40 of its value in that time. It was shortly after reaching this high that Bruce Durham was appointed as president and CEO.
(York Harbour Metals stock chart – March 2022 to March 2024.)
In February 2024, Blair Naughty replaced him on an interim basis.
The follows news that billionaire philanthropist and mining investor Eric Sprott allowed 500,000 purchase warrants for shares of the company to expire unexercised.
The company recently began a maiden drill program on its Bottom Brook rare earth element (REE) project in Newfoundland and Labrador. Drilling will test high-grade mineralization identified through mapping and sampling.
York Harbour Metals is a North American exploration and development company focused on copper, zinc, gold and rare earth elements. Its additional projects include the Phoenix gold project in Nevada and the York Harbour copper-zinc project in Newfoundland.
York Harbour Metals stock opened more than 7 per cent higher on Monday at $0.075 per share but has lost 85.45 per cent in the past year.
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