Ivanhoe Electric Inc. Stock Price, News & Analysis

Ivanhoe Electric has completed a Preliminary Feasibility Study for its Santa Cruz Copper Project in Arizona, revealing strong economics with an after-tax NPV8% of $1.9B and 24% IRR at current copper prices. The project features Probable Mineral Reserves of 136M tonnes at 1.08% copper grade, supporting a 23-year mine life. The operation will produce 1.4M tonnes of copper cathode through heap leaching, with initial capital costs of $1.24B and first quartile cash costs of $1.32/lb. The project, located on private land, targets construction in H1 2026 with first production in 2028. At 20,000 tonnes per day, it will average 72,000 tonnes of annual copper cathode production in the first 15 years with 92.2% recovery. The study positions Santa Cruz as a significant future domestic copper producer, with strong potential for project financing including possible U.S. government support.

Ivanhoe Electric's subsidiary Cordoba Minerals Corp. has signed a definitive agreement to sell its remaining 50% stake in the Alacran Copper Project in Colombia for up to US $128 million. The buyer is a consortium including JCHX Mining Management Co., which already owns 50% of the project. The deal structure includes: US $88 million in initial cash payment, US $12 million deferred payment upon commercial production or within 36 months, and up to US $28 million in contingent payments based on copper prices. Ivanhoe Electric expects to receive over US $40 million from the initial proceeds. The transaction must close by December 31, 2025, and requires TSX Venture Exchange approval, Cordoba shareholder approval, and Environmental Impact Assessment approval. Post-transaction, Cordoba will remain public, focusing on its 51%-owned Perseverance Copper Project in Arizona.

Ivanhoe Electric (NYSE American: IE) has received a Letter of Interest from the Export-Import Bank of the United States (EXIM Bank) for potential debt financing of up to $825 million with a 15-year repayment term for its Santa Cruz Copper Project in Arizona.

The financing would be provided through EXIM Bank's Make More in America initiative, aimed at strengthening domestic supply chains and reducing strategic vulnerabilities. The Santa Cruz project, which is 100%-owned by Ivanhoe Electric, is positioned to produce pure copper cathode on-site to meet rising US demand for domestically sourced copper.

The company is also pursuing additional government support programs, including EXIM Bank's Supply Chain Resilience Initiative and Section 45X advanced manufacturing production tax credit. The Preliminary Feasibility Study is scheduled for completion in June 2025, with initial construction activities planned to begin in the first half of 2026.

Ivanhoe Electric (NYSE American: IE) welcomes the March 20, 2025 Executive Order signed by President Trump to boost domestic critical metals production, including copper. The Order leverages the Defense Production Act to expedite project permits and improve access to capital through a dedicated mineral production fund under the Development Finance

The company's Santa Cruz Copper Project in Arizona is progressing toward completion of its Preliminary Feasibility Study (PFS) in June 2025. Following the Initial Assessment from September 2023, the project aims to begin construction in the first half of 2026. The underground copper project is expected to produce approximately 80,000 tonnes of copper annually, including 57,000 tonnes of pure copper cathode for the U.S. market.

Ivanhoe Electric (NYSE American: IE) has successfully closed its previously announced public offering, raising approximately $69 million in gross proceeds. The offering consisted of 11,794,872 Units priced at $5.85 per Unit, including the full exercise of the underwriter's option for an additional 1,538,461 Units.

Each Unit includes one common stock share and one warrant to purchase an additional share at $7.00 within 12 months. BMO Capital Markets served as the sole book-running manager. The company plans to use the proceeds for the Santa Cruz Project's preliminary feasibility study, land acquisition payments, drilling, exploration activities, and general corporate purposes.

Ivanhoe Electric (NYSE American: IE) has announced the pricing of an upsized public offering of 10,256,411 units at US$5.85 per unit, with each unit comprising one common stock share and one warrant. The warrants are exercisable at US$7.00 per share for 12 months.

The offering is expected to generate gross proceeds of approximately US$60 million before deductions and is scheduled to close on February 14, 2025. The company has granted underwriters a 30-day option to purchase up to an additional 1,538,461 units.

The net proceeds will fund the preliminary feasibility study for the Santa Cruz Project, land acquisition payments, drilling and exploration activities, and general corporate purposes. BMO Capital Markets is serving as the sole book-running manager for the offering.

Ivanhoe Electric (NYSE American: IE) has announced plans for a US$50 million public offering of Units, with each Unit comprising one common stock share and one warrant exercisable for an additional share. The underwriters will have a 30-day option to purchase up to an additional US$7.5 million of Units.

The company plans to use the proceeds for a preliminary feasibility study on the Santa Cruz Project, mineral rights payments, drilling and exploration activities, and general corporate purposes. BMO Capital Markets is serving as the sole book-running manager for the offering.

The offering will be conducted under an effective Form S-3 registration statement and through a multi-jurisdictional disclosure system (MJDS) prospectus in Canadian provinces and territories (except Québec). The completion and terms of the offering are subject to market conditions.

XtremeX Mining Technology (XMT) has announced plans to deploy its innovative AC-electric automated drilling rig with Ivanhoe Electric (NYSE: IE) at the Santa Cruz copper project in Arizona. The company recently secured an $11M Series-A financing led by GoGreen Partners.

The revolutionary hybrid drilling system, which adapts oil and gas technology for mining, will target depths up to 2,000 meters. Under the agreement, Ivanhoe Electric gains exclusive access to three XMT rigs for up to five years. The technology promises faster, safer, and more sustainable drilling operations with improved core recovery and high-fidelity drill chips.

The project involves collaboration with strategic partners including Precision Drilling, Baker Hughes, and the Mines Venture Fund 1, LP. The field trial at Santa Cruz will test the rig's capabilities in accelerating the drilling process and reducing costs for mineral exploration.

Ivanhoe Electric (NYSE: IE) has announced significant drilling results from its 50/50 joint venture with Ma'aden in Saudi Arabia. The company's TyphoonTM geophysical surveying technology has led to the discovery of copper mineralization near Ma'aden's Al Amar mine.

Initial drilling at the Umm Ad Dabah prospect has yielded promising results, with three holes intersecting copper mineralization to depths beyond 700 meters. Notable intersections include 13.1 meters @ 1.31% copper and 4.5 g/t silver from 717.9 meters in hole UAD-005, and 5.9 meters @ 0.79% copper and 1.9 g/t silver from 374.5 meters in UAD-006.

The Joint Venture has completed TyphoonTM surveys covering 238 square kilometers, with three units currently active in Saudi Arabia. The mineralized system extends over 250 meters in strike length and 400 meters down dip, remaining open for expansion.