Mentioned:
FDY -14.60% IE -14.29%
One of the most important copper properties in North America is moving closer into full scale exploration. And a publicly listed company in Canada is behind it.
What’s happening:
- Faraday Copper (TSX: FDY) has successfully raised $49M CAD in a new equity financing round
Why it matters:
- Faraday Copper’s flagship property is the Copper Creek Project located in Arizona, which is widely considered to be one of the single largest undeveloped copper properties in all of North America
Going deeper:
- Faraday Copper just recently received a significant regulatory approval from the United States Bureau of Land Management who accepted their exploration plan at the Copper Creek Project to advance into further exploration and drilling
- Some of the most legendary financiers in North American mining have been early investors in Faraday Copper, including both the Lundin family and Pierre Lassonde
The intrigue:
- Copper deposits in Arizona have continued to attract significant capital lately, with Ivanhoe Electric (NYSE: IE) previously making waves on Wall Street with a $825M USD letter of intent from the Export-Import Bank of the United States to advance their Santa Cruz Copper Project
