Ivanhoe Mines Ltd - IVPAF STOCK NEWS

Ivanhoe Mines announced significant expansion of its Western Forelands Exploration Project in DRC. The Makoko mineralized district has increased by 20% to over 13 kilometers of strike length, comparable to the Kakula orebody. The company completed a record 81,734 meters of diamond drilling in 2024, exceeding its 70,000-meter target.

Key developments include the discovery of shallow, high-grade copper mineralization in the new Makoko West area, and the acquisition of 336 km² of new exploration licenses. The company has also announced a $75 million group exploration budget for 2025, including 102,000 meters of drilling planned in Western Forelands.

The Makoko deposit currently contains an Indicated Mineral Resource of 16 million tonnes at 3.55% copper and an Inferred Resource of 154 million tonnes at 1.97% copper. Ivanhoe is targeting an updated Mineral Resource Estimate for Makoko, Makoko West, and Kitoko in Q2 2025.

Ivanhoe Mines (IVPAF) has announced key executive appointments to strengthen its leadership teams. Marna Cloete, who joined the company in 2006 and served as President since 2020, has been promoted to President & Chief Executive Officer. During her tenure, she played a important role in developing the Kamoa-Kakula Copper Complex, rehabilitating the Kipushi Mine, and overseeing the Platreef Project.

At the Kamoa Copper Joint Venture, Annebel Oosthuizen has been appointed as Managing Director, succeeding Riaan Vermeulen. Oosthuizen, previously Chief Executive, Commercial, has managed approximately $6 billion in capital investment at Kamoa-Kakula. Additionally, Tom van den Berg joins as Senior Executive, Operations, bringing 36 years of mining experience from positions at Sibanye-Stillwater and Anglo American.

The company recently achieved a milestone with the completion of its on-site smelter, which has a capacity of 500,000 tonnes per annum of 99%-pure blister copper.

Ivanhoe Mines reported strong financial results for 2024, with a $193M net profit and $386M normalized profit. The company achieved record $625M adjusted EBITDA, up from $604M in 2023. The Kamoa-Kakula Copper Complex delivered record production of 437,061 tonnes of copper in 2024, including 133,819 tonnes in Q4.

Key financial highlights include Kamoa-Kakula's record $3.11B revenue and $1.81B EBITDA in 2024. The operation maintained competitive costs with $1.71/lb Cost of Sales and $1.65/lb cash cost (C1). Africa's largest copper smelter construction is complete, expected to boost margins in H2 2025.

The Kipushi zinc-copper-silver mine achieved commercial production in Q4 2024, while the Platreef platinum-palladium-rhodium-nickel-gold-copper mine expects Phase 1 production in Q4 2025. The company announced Phase 2 & 3 expansion studies for Platreef.

Ivanhoe Mines has announced positive results from two independent technical studies on Phase 2 and Phase 3 expansions of its Platreef mine in South Africa. The Phase 1 production will commence in Q4 2025, followed by Phase 2 expansion in 2027, which will increase production to over 460,000 ounces of platinum, palladium, rhodium, and gold annually, plus 9,000 tonnes of nickel and 6,000 tonnes of copper.

The 4.1 Mtpa Feasibility Study yields an after-tax NPV8% of $1.4 billion and IRR of 20%. The Phase 3 expansion outlined in the 10.7 Mtpa PEA would further double production to over 1 million ounces of precious metals annually, plus 22,000 tonnes of nickel and 13,000 tonnes of copper, with an NPV8% of $3.2 billion and IRR of 25%.

Platreef is positioned to become the lowest-cost primary platinum-group-metals producer globally, with estimated life of mine total cash costs of $599 per ounce for Phase 2 and $511 per ounce for Phase 3.

Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) has announced it will release its Q4 and full year 2024 financial results after market close on February 19, 2025. The company will host an investor conference call to discuss the results on February 20, 2025, at 10:30 a.m. Eastern time / 7:30 a.m. Pacific time.

The conference call will include a Q&A session and will be accessible via webcast. Media representatives are invited to attend on a listen-only basis. Following the call, the webcast recording and presentation slides will be available on the company's website, along with the financial statements and Management's Discussion and Analysis on both the company website and SEDAR.

Ivanhoe Mines has formed an Exploration Joint Venture to explore Kazakhstan's Chu-Sarysu Copper Basin, the world's third-largest sediment-hosted copper district. The venture covers a 16,000 km2 licence package, approximately 7.5 times larger than Ivanhoe's Western Forelands Project.

The company has committed $18.7 million in exploration activities over an initial two-year period, with rights to increase ownership up to 80%. The joint venture with UK-based Pallas Resources includes access to Soviet-era exploration data. Ivanhoe can earn a majority interest by spending up to $115 million over the subsequent four years.

The Chu-Sarysu Basin hosts 27 million tonnes of known copper, with the USGS estimating approximately 25 million tonnes of undiscovered copper potential. The region includes the Zhezkazgan complex, which produces about 200,000 tonnes of copper annually.

Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) has successfully completed its offering of US$750,000,000 in senior notes, carrying a 7.5% interest rate and due in 2030. The notes represent senior unsecured obligations of the company and are backed by guarantees from certain company subsidiaries.

The gross proceeds from this offering will be allocated towards general corporate purposes, including capital expenditure for project expansions, as well as covering fees and expenses related to the offering itself.

Ivanhoe Mines (TSX: IVN, OTCQX: IVPAF) has announced the pricing of US$750,000,000 7⅞% senior notes due 2030. The notes will be senior unsecured obligations of the company and will be guaranteed by certain company subsidiaries.

The gross proceeds from the offering will be allocated to general corporate purposes, including capital expenditure for project expansion, and to cover fees and expenses related to the offering. The closing of the offering remains subject to customary conditions precedent.

Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) has announced the launch of a US$600 million senior notes offering due 2030. The notes will be senior unsecured obligations guaranteed by certain company subsidiaries. Additionally, the company has secured a US$120 million revolving credit facility agreement dated December 22, 2024.

The proceeds from the notes offering will be allocated to general corporate purposes, including capital expenditure for project expansion and offering-related fees and expenses. The notes will be backed by guarantees from specified subsidiary companies (Guarantors).