York Harbour Metals Announces Sale of Firetail Shares for CAD $1.71 million and Provides Strategic Update
York Harbour Metals (OTC:YORKF) has announced the sale of 25 million Firetail Resources shares, generating CAD $1.71 million in net proceeds. The company retains 54 million Firetail shares currently valued at AUD $0.094 per share and maintains a 51% interest in the York Harbour Project with a 2% net smelter royalty.
Under the option agreement, York Harbour could receive an additional 75 million Firetail shares and AUD $300,000 in cash if Firetail completes the earn-in for 80% project interest. The company would then retain a 20% free-carried interest. Firetail plans to commence drilling in 2026 following extensive geophysical work in 2025.
York Harbour Metals (OTC:YORKF) ha annunciato la vendita di 25 milioni di azioni Firetail Resources, generando 1,71 milioni di CAD di proventi netti. L'azienda detiene ancora 54 milioni di azioni Firetail, attualmente valutate a AUD 0,094 per azione, e mantiene un interesse del 51% nel progetto York Harbour con una royalty netta del 2% sul metallo estratto.
Secondo l'accordo di opzione, York Harbour potrebbe ricevere ulteriori 75 milioni di azioni Firetail e 300.000 AUD in contanti se Firetail completa l'acquisizione dell'80% del progetto. In tal caso, la società manterrebbe un interesse del 20% senza costi aggiuntivi. Firetail prevede di iniziare la perforazione nel 2026, dopo intensi lavori geofisici previsti per il 2025.
York Harbour Metals (OTC:YORKF) ha anunciado la venta de 25 millones de acciones de Firetail Resources, generando 1,71 millones de CAD en ingresos netos. La compañía conserva 54 millones de acciones de Firetail valoradas actualmente en AUD 0,094 por acción y mantiene un 51% de participación en el Proyecto York Harbour con una regalía neta del 2% sobre el fundido.
Bajo el acuerdo de opción, York Harbour podría recibir adicionalmente 75 millones de acciones de Firetail y 300,000 AUD en efectivo si Firetail completa la adquisición del 80% del proyecto. La empresa mantendría entonces un 20% de participación libre de costos. Firetail planea comenzar la perforación en 2026 tras un extenso trabajo geofísico en 2025.
York Harbour Metals (OTC:YORKF)는 2,500만 주의 Firetail Resources 주식을 매각하여 171만 캐나다 달러의 순수익을 창출했다고 발표했습니다. 회사는 현재 주당 AUD 0.094로 평가되는 5,400만 주의 Firetail 주식을 보유하고 있으며, York Harbour 프로젝트에 대해 51% 지분과 2% 순제련소 로열티를 유지하고 있습니다.
옵션 계약에 따라, Firetail이 프로젝트 지분 80%를 획득하면 York Harbour는 추가로 7,500만 주의 Firetail 주식과 30만 AUD의 현금을 받을 수 있습니다. 이 경우 회사는 20% 무상 지분을 유지하게 됩니다. Firetail은 2025년 광범위한 지구물리학 작업 후 2026년에 시추를 시작할 계획입니다.
York Harbour Metals (OTC:YORKF) a annoncé la vente de 25 millions d'actions Firetail Resources, générant 1,71 million de dollars canadiens de produit net. La société conserve 54 millions d'actions Firetail actuellement valorisées à 0,094 AUD par action et maintient un intérêt de 51% dans le projet York Harbour avec une redevance nette de 2% sur le minerai.
Dans le cadre de l'accord d'option, York Harbour pourrait recevoir en plus 75 millions d'actions Firetail et 300 000 AUD en espèces si Firetail finalise l'acquisition de 80% du projet. La société conserverait alors un intérêt de 20% sans frais. Firetail prévoit de commencer les forages en 2026 après des travaux géophysiques approfondis en 2025.
York Harbour Metals (OTC:YORKF) hat den Verkauf von 25 Millionen Firetail Resources-Aktien bekannt gegeben und damit 1,71 Millionen CAD Nettogewinn erzielt. Das Unternehmen hält weiterhin 54 Millionen Firetail-Aktien, die derzeit mit AUD 0,094 pro Aktie bewertet sind, und behält einen 51%igen Anteil am York Harbour Projekt mit einer 2%igen Netto-Schmelzgebühr.
Gemäß der Optionsvereinbarung könnte York Harbour weitere 75 Millionen Firetail-Aktien sowie 300.000 AUD in bar erhalten, falls Firetail den Erwerb von 80% Projektanteilen abschließt. Das Unternehmen würde dann einen 20%igen kostenlosen Anteil behalten. Firetail plant, nach umfangreichen geophysikalischen Arbeiten im Jahr 2025 im Jahr 2026 mit Bohrungen zu beginnen.
- Generated CAD $1.71 million in cash through strategic share sale
- Maintains significant ownership of 54 million Firetail shares
- Potential to receive additional 75 million shares and AUD $300,000 from Firetail
- Retains 51% interest in York Harbour Project with 2% net smelter royalty
- Company holds approximately CAD $1.8 million in cash position
- Reduction in ownership stake in Firetail Resources through share sale
- Project development timeline extends into 2026 for drilling commencement
Vancouver, British Columbia--(Newsfile Corp. - August 8, 2025) - YORK HARBOUR METALS INC. (CSE: YORK) (OTC Pink: YORKF) (FSE: 5DE) (the "Company" or "York Harbour") is pleased to announce that it has sold 25 million ordinary shares of Firetail Resources Limited (ASX: FTL) ("Firetail"), generating net proceeds of approximately CAD
Following this sale, York Harbour holds approximately CAD
York Harbour continues to hold a
Firetail has been actively advancing the York Harbour Project, having completed extensive geophysical work during the spring and summer of 2025. Firetail has advised York Harbour of its intention to commence drilling in 2026.
"Firetail has been an outstanding partner for York Harbour," said Blair Naughty, CEO of York Harbour Metals. "Their geological team has done excellent work identifying new targets to expand the resource at York Harbour. In addition, Firetail has acquired a highly prospective gold project in Nevada and successfully raised an additional AUD
York Harbour is also engaged in active discussions with several parties to advance its high-grade Bottom Brook rare earth property.
Looking ahead, the Company is positioning itself as a strategic gatherer and monetizer of undervalued assets. "This is the model I've built my career on - spotting emerging trends early, acquiring quality assets ahead of the crowd, and then capitalizing once the market catches up," added Blair Naughty, CEO. "Whether it's optioning out properties or rolling private assets into public companies, the focus is on generating value for shareholders. I plan to apply the same playbook that I've refined over 36 years in the public markets - now for the benefit of York Harbour shareholders, where I'm also a
About York Harbour Metals
York Harbour Metals Inc. is a Canadian exploration company focused on acquiring, developing, and strategically positioning mineral assets with strong value potential. The Company maintains a significant equity position in Firetail Resources Limited, holds an interest in the York Harbour copper-zinc project, and owns the high-grade Bottom Brook rare earth property.
On Behalf of the Board of Directors,
"Blair Naughty"
CEO and President
For further details, please contact:
Email: info@yorkharbourmetals.com
Phone: 604-346-7613 or 604-341-6870 Office
Website: https://yorkharbourmetals.com/
Forward-Looking Statements:
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "believes" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions including statements that the Company will position itself as a strategic gatherer and monetizer of undervalued assets and that it will generate value for its shareholders. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261785
FAQ
How much did York Harbour Metals (YORKF) receive from selling Firetail shares?
What is York Harbour Metals' current ownership in the York Harbour Project?
How many Firetail shares does York Harbour Metals still own?
What additional compensation could York Harbour receive from Firetail?
When will Firetail begin drilling at the York Harbour Project?
