Ivanhoe Electric (NYSE American: IE) (TSX: IE) prepares to elevate $60 million via a public offering of systems valued at $5.85 each. The earnings will certainly approach its Santa Cruz copper job in Arizona.
In total amount, about 10.25 million systems will certainly be provided, each consisting of one usual share plus one warrant with a workout rate of $7.00 per share. The supply traded at $6.09 in New york city by lunchtime Wednesday, for an intraday gain of 3% and a market capitalization of $733.6 million.
The offering, which was originally evaluated $50 million however later on upsized, is anticipated to shut on Friday. BMO Funding Markets is serving as single book-running supervisor.
Santa Cruz PFS
Ivanhoe stated it will certainly utilize the funds to finish the recurring prefeasibility benefit the Santa Cruz job found in Casa Grande, Arizona.
The Santa Cruz job includes 5,975 acres of personal land, consisting of connected water legal rights. In June 2024, the business gotten authorization to have more than fifty percent of this land (3,000 acres) for commercial usage, standing for a significant allowing landmark for the suggested copper mine.
Ivanhoe got its land title in Might 2023 for $116 million, and a year later on, it gained full ownership of the mineral legal rights consisting of the job after using up its acquisition choice.
Because late 2022, the business has actually performed 120,000 metres of boring on the job, causing a present source price quote of 2.8 million tonnes of copper in the shown classification (226.7 million tonnes rating 1.24% complete copper) and 1.8 million tonnes of copper in the presumed classification (149 million tonnes rating 1.24% complete copper).
A first evaluation in September 2023 laid out a tiny surface area impact, below ground copper mine at Santa Cruz with 5.9 million tonnes of yearly manufacturing over a 20-year mine life, concentrating on the state-of-the-art Santa Cruz and East Ridge down payments.
According to Ivanhoe, its prefeasibility research study gets on track for conclusion in the 2nd quarter this year, and will certainly consist of a mine strategy sustained by a brand-new mineral source price quote arising from infill boring and testwork given that the evaluation.
发布者：Jackson Chen，转转请注明出处：https://robotalks.cn/ivanhoe-electric-raises-60m-to-fund-arizona-copper-project/
