- York Harbour Metals (TSXV:YORK) has agreed to issue 4,723,088 common shares priced at C$0.07 to settle C$330,616.38 in debt
- The transaction preserves cash for ongoing work at the company’s attractive operations, which represent one among many reasons to consider the stock for your portfolio
- York Harbour Metals is an exploration and development company with two high-grade projects in Newfoundland
- York Harbour Metals stock has given back 53.33 per cent year-over-year, but has gained 40 per cent since May 2020
York Harbour Metals (TSXV:YORK) has agreed to issue 4,723,088 common shares priced at C$0.07 to settle C$330,616.38 in debt.
The debt is owed to numerous arm’s-length third parties as well as three York Harbour directors, the latter of which are set to receive a combined 1,254,463 shares worth C$87,812.50.
The transaction comes with a four-month-and-one-day holding period on all shares issued and is designed to preserve the company’s cash for ongoing work at its highly prospective operations, which encompass only one among a multitude of reasons to consider the stock for your portfolio.
5 reasons to invest in York Harbour Metals today
- The company’s 4,725-hectare York Harbour project in Newfoundland and Labrador is prospective for copper, cobalt, zinc and silver, each of which is benefitting from a long-term demand-driven tailwind. The same applies to the nearby 15,150-hectare Bottom Brook rare earth elements project.
- York Harbour’s properties have demonstrated the presence of their target commodities, including:
- High-grade intersections with mineralization encountered in 75 per cent of drill holes at the York Harbour project, earning it an option agreement with Firetail Resources announced in June.
- High-grade rare earth element values in unsourced boulders, channel sampling and in historic drill core at Bottom Brook.
- The company is positioned to optimally develop its portfolio’s upside thanks to a management team with decades of experience in senior executive roles, capital markets and accounting focused on mining and natural resources.
- Despite its demonstrated upside, York Harbour shares are currently trading at an out-of-favour price, having given back more than 95 per cent from their all-time-high in 2022.
- Rounding off our list of green flags for an allocation into the junior mining stock is how your investment is de-risked by more than 20 per cent insider ownership, according to data from Simply Wall Street, as well as a sizeable position owned by billionaire mining investor Eric Sprott.
While York Harbour Metals makes a compelling case for an investment, readers should take care to never buy shares without running candidates through their personal due diligence process, accounting for factors such as risk, goals and time horizon.
Given junior mining stocks’ well-earned reputation for high volatility, opening them up to exponential returns as well as total losses, investors should be prepared to hold their YORK shares across the mining lifecycle before any probability of a return.
About York Harbour Metals
York Harbour Metals is an exploration and development company with two high-grade projects in Newfoundland.
York Harbour Metals stock (TSXV:YORK) is unchanged, trading at C$0.07 per share as of 11:22 am ET. The stock has given back 53.33 per cent year-over-year, but has gained 40 per cent since May 2020.
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(Top photo of high-grade copper and cobalt intercepts at the York Harbour project in 2021: York Harbour Metals)