Highland Copper to Sell 34% Stake in White Pine North for $30 Million

Highland Copper ( (TSE:HI) ) has provided an announcement.

Highland Copper Company Inc. has signed a binding offer to sell its 34% interest in the White Pine North Project to Kinterra Copper USA LLC for approximately US$30 million. This transaction is a strategic move to optimize Highland Copper’s corporate strategy, strengthen its financial position, and focus on its fully owned Copperwood Project. The sale will provide the company with non-dilutive funding to advance the Copperwood Project, eliminate existing debt, and simplify its corporate structure, positioning it for future growth and enhancing its ability to become a domestic U.S. copper producer.

Spark’s Take on TSE:HI Stock

According to Spark, TipRanks’ AI Analyst, TSE:HI is a Underperform.

Highland Copper’s stock faces significant challenges, primarily due to its poor financial performance, including no revenue generation and negative cash flows. While technical indicators suggest potential stabilization, the valuation remains unattractive due to ongoing losses. Positive corporate events offer some optimism, indicating potential future improvements, but substantial risks remain.

To see Spark’s full report on TSE:HI stock, click here.

More about Highland Copper

Highland Copper Company Inc. is a Canadian company focused on exploring and developing copper projects in the Upper Peninsula of Michigan, U.S.A. The company owns the Copperwood deposit through long-term mineral leases and 34% of the White Pine North project through a joint venture with Kinterra Copper USA LLC. Its common shares are listed on the TSX Venture Exchange under the symbol ‘HI’ and trade on the OTCQB Venture Market under symbol ‘HDRSF’.

Average Trading Volume: 224,336

Technical Sentiment Signal: Buy

Current Market Cap: C$92.09M

For an in-depth examination of HI stock, go to TipRanks’ Overview page.