Faraday Copper Reports First Quarter 2025 Financial Results
Faraday Copper Corp. (TSX:FDY) released its Q1 2025 financial results, reporting a net loss of $7.82 million ($0.04 per share), compared to $5.50 million ($0.03 per share) in Q1 2024. The company's cash position decreased to $7.55 million as of March 31, 2025, down from $17.00 million at the end of 2024.
Key operational highlights include completing Phase III drilling with 79 drill holes and 30,069 meters at the Copper Creek Project. Notable drilling results showed 56.57 meters at 0.59% copper at Boomerang breccia and 47.95 meters at 0.74% copper within 304.40 meters at 0.35% copper in the American Eagle Area. The company plans to release an updated technical report by Q3 2025, incorporating approximately 40,000 meters of additional drilling data from Phase II and III programs.
Metallurgical testing confirmed high copper recovery through coarse grind and flotation, and the company continues environmental data collection and stakeholder mapping at Copper Creek.
Faraday Copper Corp. (TSX:FDY) ha pubblicato i risultati finanziari del primo trimestre 2025, registrando una perdita netta di 7,82 milioni di dollari (0,04 dollari per azione), rispetto a 5,50 milioni di dollari (0,03 dollari per azione) nel primo trimestre 2024. La posizione di cassa dell'azienda è scesa a 7,55 milioni di dollari al 31 marzo 2025, rispetto ai 17,00 milioni di dollari alla fine del 2024.
I principali risultati operativi includono il completamento della Fase III di perforazione con 79 fori e 30.069 metri presso il progetto Copper Creek. Tra i risultati più significativi, si segnalano 56,57 metri con il 0,59% di rame nella breccia Boomerang e 47,95 metri con il 0,74% di rame all’interno di 304,40 metri con il 0,35% di rame nell'area American Eagle. L’azienda prevede di pubblicare un rapporto tecnico aggiornato entro il terzo trimestre 2025, che includerà circa 40.000 metri di dati aggiuntivi provenienti dai programmi di perforazione delle Fasi II e III.
I test metallurgici hanno confermato un'elevata recuperabilità del rame tramite macinazione grossolana e flottazione, mentre l’azienda continua la raccolta di dati ambientali e la mappatura degli stakeholder presso Copper Creek.
Faraday Copper Corp. (TSX:FDY) publicó sus resultados financieros del primer trimestre de 2025, reportando una pérdida neta de 7,82 millones de dólares (0,04 dólares por acción), en comparación con 5,50 millones de dólares (0,03 dólares por acción) en el primer trimestre de 2024. La posición de efectivo de la compañía disminuyó a 7,55 millones de dólares al 31 de marzo de 2025, desde 17,00 millones al final de 2024.
Los aspectos operativos clave incluyen la finalización de la perforación de la Fase III con 79 pozos y 30.069 metros en el Proyecto Copper Creek. Resultados destacados de perforación mostraron 56,57 metros con 0,59% de cobre en la brecha Boomerang y 47,95 metros con 0,74% de cobre dentro de 304,40 metros con 0,35% de cobre en el Área American Eagle. La compañía planea publicar un informe técnico actualizado para el tercer trimestre de 2025, incorporando aproximadamente 40.000 metros adicionales de datos de perforación de los programas de Fase II y III.
Las pruebas metalúrgicas confirmaron una alta recuperación de cobre mediante molienda gruesa y flotación, y la compañía continúa con la recolección de datos ambientales y el mapeo de partes interesadas en Copper Creek.
Faraday Copper Corp. (TSX:FDY)는 2025년 1분기 재무 결과를 발표하며 순손실 782만 달러(주당 0.04달러)를 기록했으며, 이는 2024년 1분기 550만 달러(주당 0.03달러) 손실과 비교됩니다. 회사의 현금 보유액은 2025년 3월 31일 기준 755만 달러로, 2024년 말 1,700만 달러에서 감소했습니다.
주요 운영 성과로는 Copper Creek 프로젝트에서 79개 시추공과 30,069미터의 3단계 시추 완료가 포함됩니다. 주목할 만한 시추 결과로는 Boomerang 부레시아에서 56.57미터에 0.59% 구리, American Eagle 지역에서 304.40미터 중 47.95미터에 0.74% 구리가 확인되었습니다. 회사는 2단계 및 3단계 프로그램에서 약 40,000미터의 추가 시추 데이터를 포함한 업데이트된 기술 보고서를 2025년 3분기까지 발표할 계획입니다.
광물학적 테스트 결과, 거친 분쇄 및 부유선별을 통한 높은 구리 회수가 확인되었으며, 회사는 Copper Creek에서 환경 데이터 수집과 이해관계자 매핑을 계속 진행하고 있습니다.
Faraday Copper Corp. (TSX:FDY) a publié ses résultats financiers du premier trimestre 2025, annonçant une perte nette de 7,82 millions de dollars (0,04 dollar par action), contre 5,50 millions de dollars (0,03 dollar par action) au premier trimestre 2024. La trésorerie de la société a diminué à 7,55 millions de dollars au 31 mars 2025, contre 17,00 millions à la fin de 2024.
Les points forts opérationnels incluent l'achèvement de la phase III de forage avec 79 trous de forage et 30 069 mètres au projet Copper Creek. Parmi les résultats notables, on compte 56,57 mètres à 0,59% de cuivre dans la brèche Boomerang et 47,95 mètres à 0,74% de cuivre dans 304,40 mètres à 0,35% de cuivre dans la zone American Eagle. La société prévoit de publier un rapport technique mis à jour d'ici le troisième trimestre 2025, intégrant environ 40 000 mètres supplémentaires de données de forage des programmes des phases II et III.
Les tests métallurgiques ont confirmé une récupération élevée du cuivre grâce à un broyage grossier et à la flottation, et la société poursuit la collecte de données environnementales ainsi que la cartographie des parties prenantes à Copper Creek.
Faraday Copper Corp. (TSX:FDY) veröffentlichte seine Finanzergebnisse für das erste Quartal 2025 und meldete einen Nettoverlust von 7,82 Millionen US-Dollar (0,04 US-Dollar pro Aktie), im Vergleich zu 5,50 Millionen US-Dollar (0,03 US-Dollar pro Aktie) im ersten Quartal 2024. Die Barbestände des Unternehmens sanken zum 31. März 2025 auf 7,55 Millionen US-Dollar von 17,00 Millionen US-Dollar Ende 2024.
Wesentliche operative Highlights umfassen den Abschluss der Phase-III-Bohrungen mit 79 Bohrlöchern und 30.069 Metern im Copper Creek Projekt. Bemerkenswerte Bohrergebnisse zeigten 56,57 Meter mit 0,59% Kupfer in der Boomerang-Brekzie und 47,95 Meter mit 0,74% Kupfer innerhalb von 304,40 Metern mit 0,35% Kupfer im American Eagle Bereich. Das Unternehmen plant, bis zum dritten Quartal 2025 einen aktualisierten technischen Bericht zu veröffentlichen, der etwa 40.000 Meter zusätzliche Bohrdaten aus den Phasen II und III enthält.
Metallurgische Tests bestätigten eine hohe Kupferrückgewinnung durch grobes Mahlen und Flotation, und das Unternehmen setzt die Erfassung von Umweltdaten sowie die Stakeholder-Kartierung bei Copper Creek fort.
- Positive metallurgical results confirming high copper recovery through coarse grind and flotation
- Significant exploration progress with multiple high-grade copper intersections
- Planned technical report update incorporating 40,000 meters of additional drilling data
- Potential for gold inclusion in future mineral resource estimates
- Increased net loss to $7.82 million in Q1 2025 from $5.50 million in Q1 2024
- Cash position decreased significantly to $7.55 million from $17.00 million in December 2024
- Additional funding needed to finance day-to-day operations
- Higher exploration expenses at $6.48 million compared to $4.46 million in Q1 2024
VANCOUVER, BC / ACCESS Newswire / May 12, 2025 / Faraday Copper Corp. ("Faraday" or the "Company") (TSX:FDY) announces its financial results for the three months ended March 31, 2025.
Highlights Year to Date
Announced discovery of blind Winchester Breccia and expansion of near-surface mineralization in the American Eagle Area and provided a corporate update on May 6, 2025.
Reported 56.57 metres ("m") at
0.59% copper at the Boomerang breccia and 18.49 m at0.98% copper at the Banjo breccia on March 19, 2025.Reported positive metallurgical results confirming high copper recovery through coarse grind and flotation on February 20, 2025.
Reported 47.95 m at
0.74% copper within 304.40 m at0.35% copper in the American Eagle Area on January 30, 2025.Reported 40.06 m at
0.78% copper within 109.42 m at0.41% copper at the Boomerang breccia and expanded near-surface mineralization on January 8, 2025.Continued baseline environmental data collection, stakeholder mapping, and generative exploration targeting at the Copper Creek Project to provide a pipeline of future targets through ongoing geological mapping and recently reprocessed and newly acquired geophysical data.
Upcoming Copper Creek Project Milestones
Ongoing results from the Phase III drill program.
Updated technical report near the end of the third quarter of 2025.
Copper Creek Project Update
With extensive historical exploration, over 200,000 m of drilling and modest past production, significant exploration upside remains. There are several hundred known breccia occurrences mapped at the surface, of which less than
In the Phase II drill program, assay results confirmed the potential for gold to occur in economic concentrations in certain phases of the mineralization. Gold is not currently included in the MRE. A sampling program to gather sufficient data coverage for potential gold inclusion in future technical studies is largely complete. The results from the Childs Aldwinkle and Copper Prince breccias, as well as the Keel underground zone, have been returned and released. The Company continues to evaluate other areas for potential inclusion of gold in future mineral resource updates.
The Company has reported results from a metallurgical program focused on grind size optimization that demonstrated the viability of coarse particle flotation, gold recoveries in concentrate and test work on near surface oxide mineralization.
The Company is focusing on exploration at the property while continuing to advance technical studies, environmental data gathering, and stakeholder outreach.
Phase III drilling was completed in mid-April 2025 with 79 drill holes and 30,069 m of drilling. In total, 63 holes have been released. Remaining assay results are expected from the American Eagle area and district exploration targets and will be released as they are received, analyzed and confirmed by the Company.
The program's framework was based on historical work, knowledge from the geological and recently updated structural model, the results from the Phase I and Phase II drill programs, geophysical and airborne spectral data sets, and economic criteria defined in the PEA base case.
The focus of drilling was on the near-surface mineralization in the American Eagle, Area 51 and Rum areas. To date, through the combined Phase II and Phase III drill programs, which are not included in the MRE or PEA, the Company has released results from 91 drill holes as follows:
63 drill holes were drilled on new targets that are entirely outside of the resource boundary;
21 drill holes were step-out holes testing extensions to the mineral resource; and
7 drill holes were drilled within the resource area, targeting expansion of the higher-grade cores.
The Company has awarded scopes of work to independent consultants to deliver an updated MRE and PEA near the end of the third quarter of 2025.
The updated MRE will incorporate drill results from the Phase II and Phase III drill programs, including approximately 40,000 m of additional drilling compared to the current MRE.
In addition, all existing data is being integrated into a technical framework to inform the updated MRE and PEA.
Financial Results
In Canadian dollars | Three months ended | |||||||
March 31, 2025 | March 31, 2024 | |||||||
Exploration and evaluation expenses | $ | 6,484,508 | $ | 4,464,210 | ||||
General and administration | $ | 681,672 | $ | 695,542 | ||||
Share-based compensation | $ | 384,126 | $ | 269,617 | ||||
Net loss | $ | 7,820,431 | $ | 5,499,835 | ||||
Basic and diluted loss per share | $ | 0.04 | $ | 0.03 | ||||
Note: The financial information in this table was selected from the Company's condensed interim consolidated financial statements for the three months ended March 31, 2025 (the "Financial Statements"), which are available on SEDAR+ at www.sedarplus.ca and the Company's website www.faradaycopper.com.
Selected Financial Information
In Canadian dollars | March 31, 2025 | December 31, 2024 | ||||||
Cash and cash equivalents | $ | 7,551,568 | $ | 17,003,895 | ||||
Property and equipment | $ | 18,179,077 | $ | 18,037,072 | ||||
Resource properties | $ | 4,955,328 | $ | 4,955,328 | ||||
Total assets | $ | 31,347,122 | $ | 40,578,185 | ||||
Note: The financial information in this table was selected from the Financial Statements, which are available on SEDAR+ at www.sedarplus.ca and the Company's website www.faradaycopper.com.
Cash Flow, Liquidity and Capital Resources
The Company is a resource exploration-stage company and does not generate any revenue and has been mainly relying on equity-based financing to fund its operations. As at March 31, 2025, the Company had cash and cash equivalents of
During the three months ended March 31, 2025, cash used in operating activities was
The Company will need to raise additional funding to finance its day-to-day operations and to enable the Company to achieve its long-term business objectives. On May 30, 2024, the Company completed an equity-based financing for net proceeds of
About Faraday Copper
Faraday Copper is an exploration company focused on advancing its flagship copper project in Arizona, U.S. The Copper Creek Project is one of the largest undeveloped copper projects in North America with significant district scale exploration potential. The Company is well-funded to deliver on its key milestones and benefits from a management team and board of directors with senior mining company experience and expertise. Faraday trades on the TSX under the symbol "FDY".
For additional information please contact:
Stacey Pavlova, CFA
Vice President, Investor Relations & Communications
Faraday Copper Corp.
E-mail: info@faradaycopper.com
Website: www.faradaycopper.com
Cautionary Note on Forward Looking Statements
Some of the statements in this news release, other than statements of historical fact, are "forward-looking statements" and are based on the opinions and estimates of management as of the date such statements are made and are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements of Faraday to be materially different from those expressed or implied by such forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements concerning the future drilling and exploration potential of the Copper Creek property and timing of future technical reports.
Although Faraday believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially. Accordingly, readers should not place undue reliance on forward-looking statements or information.
Factors that could cause actual results to differ materially from those in forward-looking statements include without limitation: market prices for metals; the conclusions of detailed feasibility and technical analyses; lower than expected grades and quantities of resources; receipt of regulatory approval; receipt of shareholder approval; mining rates and recovery rates; significant capital requirements; price volatility in the spot and forward markets for commodities; fluctuations in rates of exchange; taxation; controls, regulations and political or economic developments in the countries in which Faraday does or may carry on business; the speculative nature of mineral exploration and development, competition; loss of key employees; rising costs of labour, supplies, fuel and equipment; actual results of current exploration or reclamation activities; accidents; labour disputes; defective title to mineral claims or property or contests over claims to mineral properties; unexpected delays and costs inherent to consulting and accommodating rights of Indigenous peoples and other groups; risks, uncertainties and unanticipated delays associated with obtaining and maintaining necessary licenses, permits and authorizations and complying with permitting requirements, including those associated with the Copper Creek property; and uncertainties with respect to any future acquisitions by Faraday. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental events and hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and the risk of inadequate insurance or inability to obtain insurance to cover these risks as well as "Risk Factors" included in Faraday's disclosure documents filed on and available at www.sedarplus.ca.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make such an offer or solicitation in such jurisdiction. This press release is not, and under no circumstances is to be construed as, a prospectus, an offering memorandum, an advertisement or a public offering of securities in Faraday in Canada, the United States or any other jurisdiction. No securities commission or similar authority in Canada or in the United States has reviewed or in any way passed upon this press release, and any representation to the contrary is an offence.
SOURCE: Faraday Copper Corp.
View the original press release on ACCESS Newswire
FAQ
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