Newsfile·2025-05-08 11:15Core Viewpoint - Ivanhoe Electric's subsidiary, Cordoba Minerals Corp., has signed a definitive agreement to sell its remaining 50% stake in the Alacrán Copper Project in Colombia for a total consideration of up to US $128 million, which includes initial and deferred cash payments as well as contingent payments based on copper prices [1][3][4] Financial Summary - The initial cash proceeds from the transaction will amount to US $88 million, with an additional US $12 million to be paid upon the commencement of commercial production or within 36 months from closing [3][6] - A potential contingent payment of up to US $28 million is based on copper prices exceeding US $13,000 per tonne [4] - After accounting for working capital reserves and other costs, approximately US $65 to US $70 million in cash is expected to be available for distribution to Cordoba shareholders, with Ivanhoe Electric's share exceeding US $40 million [5] Transaction Details - The transaction involves the sale of two wholly owned subsidiaries of Cordoba to Veritas Resources AG, which currently holds the other 50% interest in the Alacrán Copper Project [3] - The agreement stipulates that the transaction must be completed by December 31, 2025, subject to various approvals including those from the TSX Venture Exchange and Cordoba shareholders [6] Future Prospects - Following the transaction, Cordoba will remain a publicly listed company and will continue to pursue business development opportunities, including the potential to earn up to 80% interest in the Perseverance Copper Project in Arizona [7]