Naughty talks up partner interest in Bottom Brook
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The most recent news from October 14, 2025, is a comprehensive corporate update issued on the first day of trading under the company's new name, Naughty Ventures Corp. (formerly York Harbour Metals Inc.).
The company provided updates on its three core asset groups: 1. Bottom Brook REE Property (Flagship): The company highlighted the high-grade historical drill results from its rare-earth elements project in Newfoundland, including intercepts like 14.37% TREO over 5.0 metres. Management reports they have been approached by "several parties" interested in partnerships or option agreements and are currently evaluating these opportunities. 2. Equity Holdings: The company detailed its shareholdings in two other public companies: 55 million shares of Mammoth Resources (ASX: M79) and 3.4 million shares of Metal Source Mining (CSE: MSM). It explicitly states that the fair market value of these holdings "far exceeds Naughty Ventures' current market capitalization." 3. New Energy Assets: Naughty Ventures has recently acquired natural hydrogen assets in Ontario and Quebec, which it believes will attract strong industry interest.
Financially, the company reports having approximately $1 million in cash, a low corporate burn rate, and no immediate need to raise capital.
This news is materially positive as it represents a complete strategic relaunch of the company. Coming on the heels of the name and symbol change (from YORK to BAD), this update serves as a new investment thesis for the market.
Positive Material Impacts: * Sum-of-the-Parts Valuation: The most significant claim is that the company's equity holdings are worth more than its market cap. Based on the provided data, the value can be estimated: * Mammoth Resources: 55M shares @ A$0.185 = A$10.18M (~C$9.16M, assuming 0.90 AUD/CAD). * Metal Source Mining: 3.4M shares @ C$0.475 = C$1.62M. * Total Estimated Value: ~C$10.78M. This implies Naughty Ventures' market capitalization is well below C$10.78M, suggesting a significant valuation gap. This creates a compelling arbitrage-like argument for investors, where the market is ascribing little to no value to the flagship Bottom Brook REE project, the new hydrogen assets, and the company's cash holdings. * Near-Term Catalyst: Management has explicitly stated that multiple parties are interested in partnering on the Bottom Brook REE property. This sets a clear and significant catalyst for the market to watch for. A partnership agreement would de-risk the project, provide non-dilutive funding for exploration, and validate the asset's quality. * Strong Financial Position: With $1 million in cash and a stated low burn rate, the company has mitigated immediate financing risk. The claim of "no immediate need to raise additional capital" provides assurance against near-term shareholder dilution, a key concern for junior resource investors.
Neutral/Negative Considerations: * No Firm Agreements: While interest from partners is positive, it is not a signed deal. There is no guarantee a favorable agreement will be reached. * Portfolio Volatility: The value of the company's equity holdings is subject to the market volatility of Mammoth Resources and Metal Source Mining. A decline in their stock prices would directly erode Naughty Ventures' stated asset value. * Promotional Tone: The release is a summary of existing assets and future potential. As an analyst focused on risk, I note that until a deal is signed or a new discovery is made, this is primarily a repositioning and marketing effort.
Overall, the news is a well-packaged reintroduction to the market. It clearly articulates a value proposition and provides a key catalyst to watch for, making it materially positive.
Naughty Ventures Corp. is a Canadian-based resource investment and project generation company. It recently changed its name from York Harbour Metals Inc. The company's strategy is to acquire, develop, and monetize assets, with a portfolio spanning rare-earth elements, copper, silver, and natural hydrogen.
The company's flagship project is the Bottom Brook Rare-Earth Elements (REE) Property in Newfoundland, Canada. The project consists of 606 claims covering 15,150 hectares. It is noted for its high-grade historical drill results (e.g., 14.37% TREO over 5.0m, 4.47% TREO over 5.6m) and excellent infrastructure, including proximity to the Trans-Canada Highway and a deepwater port. Mineralization is compared favorably to world-class deposits like Bayan Obo in China. The property has multiple underexplored targets.