Core Insights - Sama Resources Inc. and Ivanhoe Electric Inc. have initiated a regional exploration program for the Samapleu-Grata Nickel-Copper Project in Côte d'Ivoire for 2026, focusing on discovering new high-grade polymetallic mineralization [1][2] Project Overview - The Samapleu-Grata Project consists of the Samapleu and Grata Deposits, which were the focus of the 2024 Preliminary Economic Assessment (PEA) [2] - The project operates as a 60/40 joint venture, with Ivanhoe Electric holding a 60% interest and also owning 22.7% of Sama's common shares [2] Exploration Program Details - The 2026 exploration program aims to identify over 20 high-priority electromagnetic (EM) targets across the 879 km² land package, building on the previous year's limited exploration success [3] - Drilling is set to begin in early February 2026, focusing on high-priority EM targets within the Glanlé and Zoupleu permits, with a ground gravity survey planned to cover all remaining untested EM anomalies [4] Recent Discoveries - The discovery of new polymetallic mineralization at the Mossikro Prospect, located 10 kilometers south-southwest of the 2024 PEA Area, supports the regional exploration model and indicates the district-scale potential of the project [5] Environmental and Social Studies - Alongside exploration, the company is advancing environmental and social baseline studies to support future mining permit applications, including wildlife inventories and groundwater sampling [6][7][8] Technical and Operational Standards - Core logging and sampling are conducted at Sama's facilities, with sample preparations at Bureau Veritas Mineral Laboratory in Côte d'Ivoire, and assays performed for various metals including Ni, Cu, Co, Fe, S, Pt, Pd, and Au [10] Company Background - Sama Resources is a Canadian-based resource company focused on the Samapleu nickel-copper project in Côte d'Ivoire, with a commitment to advancing the project and a strong management team with a track record of discovery [17]

Phoenix, Arizona--(Newsfile Corp. - February 3, 2026) - Ivanhoe Electric Inc. (NYSE American: IE) (TSX: IE) ("Ivanhoe Electric") Executive Chairman Robert Friedland joined President Donald J. Trump in the Oval Office for the launch of a $12 billion initiative to build a U.S. strategic minerals stockpile. Ivanhoe Electric is advancing its high-quality Santa Cruz Copper Project in Arizona to produce refined copper cathode in late 2028 for domestic industries. The initiative, known as Project Vault, is set to ...

We came across a bullish thesis on Ivanhoe Electric Inc. on The Oak Bloke’s Substack. In this article, we will summarize the bulls’ thesis on IE. Ivanhoe Electric Inc.'s share was trading at $19.92 as of January 29th. Northern Dynasty (NAK) Jumps 28% on Copper, Gold Rush Mark Agnor/Shutterstock.com Ivanhoe Electric Inc. (IE) is a U.S.-based mineral exploration and development company focused on high-margin critical metals, primarily copper, with additional exposure to gold and silver. Founded by mining ...

Ivanhoe Electric to Provide a New Generation Typhoon™ Geophysical Survey System and Computational Geosciences' Advanced Data Inversion SoftwareSQM to Provide Access to Prospective Caliche-covered Mining Concessions on Major Copper Belts in Northern ChileSQM to Fund at Least $9 Million for Exploration During the Collaboration's Initial Three-year TermIvanhoe Electric has the Option to Form a 50/50 Joint Venture with SQM Upon Making a Qualifying Copper DiscoveryPhoenix, Arizona--(Newsfile Corp. - January 27, ...

Core Viewpoint - Ivanhoe Electric has successfully closed a $200 million senior secured multi-draw bridge facility to support the Santa Cruz Copper Project in Arizona, enhancing its financial position during ongoing project financing discussions [1][2]. Financing Details - The bridge facility is a crucial part of Ivanhoe Electric's long-term financing strategy for the Santa Cruz Copper Project, providing immediate balance sheet strength and funding for major construction activities set to begin in 2026 [2]. - The facility complements ongoing discussions for broader project financing, which may include project-level minority equity investment and long-term project debt [2]. - Ivanhoe Electric has received a Letter of Interest from the U.S. Export-Import Bank for $825 million in project debt, with the full application currently in process [2]. Key Terms of the Bridge Facility - The bridge facility has a two-year maturity term with a single repayment at maturity [10]. - The borrowing rate is based on the three-month Secured Overnight Financing Rate plus a margin of 5.0%, increasing by 0.5% at specified intervals, with an approximate rate of 8.7% on drawn amounts as of the announcement date [10]. - The facility is secured by Ivanhoe Electric's private land holdings and certain physical assets associated with the Santa Cruz Copper Project [10]. Company Overview - Ivanhoe Electric is focused on developing mines from mineral deposits primarily located in the United States, aiming to support American supply chain independence by delivering critical metals [4]. - The company utilizes advanced technologies, including the Typhoon™ geophysical surveying system and data analytics from its subsidiary, to enhance mineral exploration efforts [4]. - Ivanhoe Electric is also engaged in a joint venture with Saudi Arabian Mining Company to explore minerals in the Arabian Shield and has established an exploration alliance with BHP Mineral Resources Inc. for critical minerals in the U.S. [4].

Summary of J.P. Morgan Copper Dashboard Industry Overview - **Industry**: Copper Mining - **Current Trends**: Global copper production is experiencing a 4% year-to-date increase through August, but growth is slowing due to recent supply disruptions. Global demand has risen by 7% year-to-date as of August, with notable contributions from China, although demand from the rest of the world (RoW) is declining. Global visible inventories have increased to approximately 730,000 tons, which is about 200,000 tons higher than in 2024 and at a five-year seasonal high [1][2][3]. Key Insights 1. **Production and Demand**: - Global copper production increased by 4% year-to-date through August, but there has been a year-over-year decline in output for July and August [1]. - Global demand for copper rose by 7% year-to-date as of August, with Chinese demand growth being offset by a decline in RoW consumption [1]. - The refined copper market is expected to face a deficit of 333,000 tons in 2026 and 162,000 tons in 2027 due to acute supply disruptions [2]. 2. **Price Movements**: - LME copper prices have increased by 25% this year, reaching $4.91 per pound, significantly outperforming aluminum, which saw an 11% increase [1]. - The forward curves for copper are slightly backwardated, indicating potential upside risks to prices due to recent supply disruptions pushing the market into a deficit [1]. 3. **Equity Preferences**: - J.P. Morgan continues to favor specific companies in the copper sector, including Capstone Copper (Overweight), BHP (Overweight), Antofagasta (Overweight), Freeport (Overweight), and First Quantum (Overweight) [1]. 4. **Regional Insights**: - In Chile, overall copper output is expected to remain flat at around 5 million tons per annum, with Codelco facing production challenges. Miners are focusing on technology and innovation to extend mine life and reduce costs, although regulatory reforms are slow [3]. - Labor and equipment markets are tightening, with new activities primarily centered on brownfield projects rather than major expansions [3]. 5. **Market Dynamics**: - High-frequency data shows mixed signals: treatment charges and refining charges (TC/RCs) are firmly negative, while LME net speculative positioning is increasing. However, cancelled warrants and smelter operating rates are declining [1]. - The copper market is expected to tighten as Chinese demand begins to pull on the market, potentially leading to a bullish backdrop for LME copper prices [2]. Additional Important Points - **Global Inventory Trends**: The increase in global visible inventories to ~730,000 tons indicates a significant build-up, which could impact future pricing and supply dynamics [1]. - **Technological Innovations**: The industry is pushing for technological advancements, particularly in ore sorting and chloride-based leaching, to enhance efficiency and reduce costs [3]. - **Investment Recommendations**: J.P. Morgan's coverage includes various companies with differing ratings, highlighting potential investment opportunities and risks within the copper sector [7]. This summary encapsulates the key points from the J.P. Morgan Copper Dashboard, providing insights into the current state of the copper industry, production and demand trends, pricing dynamics, and investment recommendations.

Core Insights - Ivanhoe Electric has completed the final three land acquisition payments totaling $39.3 million for the Santa Cruz Copper Project in Arizona, fulfilling the terms of the Purchase and Sale Agreement with Wolff-Harvard Ventures LLC [1][2] - The company is positioned to commence initial construction at the Santa Cruz project in early 2026, pending the receipt of necessary permits, with a goal of first copper cathode production by late 2028 [2][6] Company Overview - Ivanhoe Electric is a U.S.-based minerals exploration company focused on developing mines from mineral deposits primarily located in the United States, aiming to support American supply chain independence by delivering copper and other critical metals [2] - The company utilizes its Typhoon™ geophysical surveying system and advanced data analytics from its subsidiary, Computational Geosciences Inc., to enhance the mineral exploration process [2] - Ivanhoe Electric also operates a joint venture with Saudi Arabian Mining Company to explore minerals in the Arabian Shield and has established an exploration alliance with BHP Mineral Resources Inc. to search for critical minerals in the U.S. [2]

Core Insights - Elemental Royalty Corporation has executed four option agreements with Ivanhoe Electric for projects in Arizona, focusing on porphyry copper mineralization [1][2][4] - The agreements will provide Elemental with execution payments, option payments, and work commitments, along with a 2.5% net smelter return royalty upon earn-in [2][5] Project Details - The projects are located in the Laramide porphyry copper belt, known for its mineral wealth, and include Dragon's Tail, Copper King, Sleeping Beauty-Jasper Canyon, and Lomitas Negras [2][4] - Dragon's Tail is near the Resolution copper deposit and targets concealed porphyry copper and skarn mineralization [6][8] - Copper King, adjacent to Dragon's Tail, also targets porphyry copper and related skarn mineralization, with previous drilling indicating high-temperature alteration [9] - Sleeping Beauty-Jasper Canyon targets mineralization from the Pinto Valley-Copper Cities porphyry system, with potential for higher grades due to geological displacement [10] - Lomitas Negras shares geological features with the San Manuel-Kalamazoo porphyry copper deposit and may relate to an undiscovered porphyry copper system [11] Financial Terms - Ivanhoe Electric can earn a 100% interest in the projects over an eight-year period by making total payments of US$240,000 in execution payments, up to US$2,325,000 in option payments, and cumulative exploration expenditures of up to US$10,800,000 [4][5] - Upon option exercise, Elemental retains a 2.5% NSR royalty, with a buyback option for 0.5% of the royalty at US$4,000,000 per project [5] Strategic Implications - The agreements exemplify Elemental's royalty generation business model, providing exploration projects to partners in exchange for royalty interests and cash flow [12] - The CEO of Elemental expressed confidence in the partnership with Ivanhoe Electric, highlighting the potential for exploration-driven growth in the Laramide belt [6]

Core Viewpoint - Ivanhoe Electric has secured a $200 million credit facility to support the development of the Santa Cruz Copper Project, marking a significant step in its project financing strategy and enhancing liquidity for early construction activities [1][2][3]. Financing Details - The Bridge Facility will provide early liquidity support and is a crucial part of the overall financing strategy, which may include project-level minority investments and long-term project debt [2][8]. - The facility has a two-year maturity and is priced at the three-month Secured Overnight Financing Rate plus a margin of 5.0%, with an expected rate of approximately 8.8% at the time of the announcement [6][7]. Project Development - Ivanhoe Electric is in advanced discussions with potential minority interest partners and project debt providers, including the U.S. Export-Import Bank [3][9]. - The Santa Cruz Copper Project aims to produce approximately 3 billion pounds of pure copper over its initial 23-year mine life, with first copper cathode production targeted for late 2028 [4][14]. Employment and Economic Impact - The project is expected to create around 1,000 skilled jobs during the construction phase, contributing to local economic development [4][14]. Company Vision - The company aims to establish itself as a new American-focused critical metals producer, enhancing supply chain security for copper and other essential metals [4][10].

Project Overview - The Santa Cruz Copper Project is projected to produce 1.4 million tonnes of copper cathode over a 23-year mine life, with an after-tax Net Present Value of $1.4 billion at an 8% discount rate and an Internal Rate of Return (IRR) of 20%[83]. - The initial project capital for the Santa Cruz Copper Project is estimated at $1.24 billion[83]. - The Santa Cruz Copper Project integrates underground mining with chloride-assisted heap leaching, significantly reducing the project's overall carbon intensity[81]. Financial Performance - For the three months ended September 30, 2025, the net loss attributable to common stockholders was $17.5 million ($0.13 per share), a decrease of $25.7 million compared to a net loss of $43.2 million ($0.36 per share) for the same period in 2024[96]. - For the nine months ended September 30, 2025, the net loss attributable to common stockholders was $71.9 million ($0.55 per share), a decrease of $73.6 million compared to a net loss of $145.5 million ($1.21 per share) for the same period in 2024[103]. - CGI's revenue for the nine months ended September 30, 2025 was $2.3 million, an increase of $0.8 million from $1.6 million for the same period in 2024, representing a 50% increase[110]. - The company reported a total change in cash of $28.1 million for the nine months ended September 30, 2025, compared to a decrease of $118.0 million in the same period of 2024[130]. Exploration and Development - The Maaden Joint Venture has completed approximately 732 square kilometers of geophysical surveys and drilled 16 holes totaling approximately 10,461 meters, identifying mineralization at depths of up to one kilometer[88]. - The company operates a 50/50 joint venture with Saudi Arabian Mining Company ("Maaden") to explore minerals on approximately 48,500 km of the underexplored Arabian Shield in Saudi Arabia[75]. - The company established an exploration alliance with BHP Mineral Resources Inc. in 2024 to search for critical minerals in the United States[75]. - The company utilizes the Typhoon™ geophysical surveying system and advanced data analytics to accelerate and de-risk the mineral exploration process[75]. - The company is focused on supporting American supply chain independence by finding and delivering copper and other critical metals vital to advanced manufacturing and national security[75]. Expenses and Cash Flow - Exploration expenses for the three months ended September 30, 2025 were $14.7 million, a decrease of $15.8 million from $30.5 million in the same period of 2024[97]. - Exploration expenses for the nine months ended September 30, 2025 were $44.6 million, a decrease of $66.8 million from $111.4 million in the same period of 2024[104]. - General and administrative expenses decreased to $9.1 million for the three months ended September 30, 2025, down $1.7 million from $10.9 million in the same period of 2024[98]. - Net cash used in operating activities for the nine months ended September 30, 2025 was $63.5 million, primarily due to $43.2 million in exploration expenditures and $22.7 million in general and administrative costs[132]. - Net cash provided by financing activities during the same period was $83.0 million, largely from a public offering that raised approximately $65.8 million by issuing 11,794,872 units at $5.85 each[135]. Financing Activities - The company completed a public offering in October 2025, issuing 11,500,000 shares at $15.00 per share for gross proceeds of approximately $172.5 million[116]. - The company received a Letter of Interest from EXIM Bank for potential debt financing of up to $825 million for the development of the Santa Cruz Copper Project[120]. - The company is assessing EXIM Bank's interest in financing the Santa Cruz Copper Project, which will require additional capital beyond what EXIM Bank may provide[122]. - The company plans to seek additional financing through various means, including debt and equity, but there is no assurance of success in raising capital on favorable terms[123]. Currency and Foreign Exchange - The company incurs the majority of its expenditures in U.S. dollars, with foreign currency risk primarily arising from transactions in Colombia and Canada[153]. - As of September 30, 2025, the Colombian Peso and Canadian dollar monetary assets and liabilities show a net liability of approximately $2.5 million and a net asset of approximately $3.3 million, respectively[154]. - The Colombian Peso appreciated by 11.0% and the Canadian dollar appreciated by 3.0% against the U.S. dollar during the nine months ended September 30, 2025[154]. - A 10% depreciation or appreciation of foreign currencies against the U.S. dollar would have resulted in an approximate $0.1 million decrease or increase in the company's net loss for the nine months ended September 30, 2025[154].