Faraday Copper Reports Second Quarter 2025 Financial Results
Faraday Copper (TSX:FDY) has reported its Q2 2025 financial results and provided updates on its Copper Creek Project. The company secured significant financing of $48.77 million through private placements at $1.10 per share. Key operational highlights include BLM approval for the Exploration Plan of Operations and completion of Phase III drilling with 79 drill holes and 30,069 meters.
Financial results show a net loss of $13.23 million for H1 2025, with cash position at $2.39 million as of June 30, 2025. The company plans to release an updated Mineral Resource Estimate and Preliminary Economic Assessment by Q3 2025, followed by a 40,000+ meter Phase IV drill program in September 2025.
Faraday Copper (TSX:FDY) ha comunicato i risultati finanziari del secondo trimestre 2025 e fornito aggiornamenti sul progetto Copper Creek. La società ha ottenuto finanziamenti per $48.77 million tramite collocamenti privati a $1.10 per azione. Tra i principali aggiornamenti operativi figurano l'approvazione da parte del BLM del Piano Operativo di Esplorazione e il completamento della Fase III di perforazione con 79 drill holes e 30,069 meters.
I risultati finanziari mostrano una perdita netta di $13.23 million nel primo semestre 2025, con una posizione di cassa pari a $2.39 million al 30 giugno 2025. La società prevede di pubblicare una stima aggiornata delle risorse minerarie e una valutazione economica preliminare entro il terzo trimestre 2025, seguite da un programma di perforazione di Fase IV di 40,000+ meter a partire da settembre 2025.
Faraday Copper (TSX:FDY) ha presentado sus resultados financieros del segundo trimestre de 2025 y dio a conocer actualizaciones sobre el proyecto Copper Creek. La compañía aseguró un financiamiento significativo de $48.77 million mediante colocaciones privadas a $1.10 por acción. Entre los hitos operativos está la aprobación por parte del BLM del Plan de Operaciones de Exploración y la finalización de la Fase III de perforación con 79 drill holes y 30,069 meters.
Los resultados financieros muestran una pérdida neta de $13.23 million en el primer semestre de 2025, con una posición de caja de $2.39 million al 30 de junio de 2025. La compañía planea publicar una estimación actualizada de recursos minerales y una evaluación económica preliminar para el tercer trimestre de 2025, seguida de un programa de perforación de Fase IV de más de 40,000+ meter en septiembre de 2025.
Faraday Copper (TSX:FDY)는 2025년 2분기 실적을 발표하고 Copper Creek 프로젝트의 진행 상황을 공개했습니다. 회사는 주당 $1.10로 실시한 사모 발행을 통해 $48.77 million의 자금을 확보했습니다. 주요 운영 성과로는 BLM의 탐사 작업 계획(Exploration Plan of Operations) 승인과 79 drill holes 및 30,069 meters에 달하는 3단계(Phase III) 시추 완료가 포함됩니다.
재무 실적은 2025년 상반기에 $13.23 million의 순손실을 기록했으며, 2025년 6월 30일 기준 현금 보유액은 $2.39 million입니다. 회사는 2025년 3분기까지 갱신된 광물자원 추정치와 예비 경제성 평가(Preliminary Economic Assessment)를 발표할 계획이며, 2025년 9월에는 40,000+ meter 규모의 Phase IV 시추 프로그램을 시작할 예정입니다.
Faraday Copper (TSX:FDY) a publié ses résultats financiers du deuxième trimestre 2025 et a donné des informations sur son projet Copper Creek. La société a obtenu un financement important de $48.77 million via des placements privés à $1.10 par action. Les points opérationnels clés incluent l'approbation par le BLM du Plan d'opérations d'exploration et l'achèvement de la phase III de forage avec 79 drill holes et 30,069 meters.
Les résultats financiers montrent une perte nette de $13.23 million pour le premier semestre 2025, avec une trésorerie de $2.39 million au 30 juin 2025. La société prévoit de publier une estimation actualisée des ressources minérales et une évaluation économique préliminaire d'ici le troisième trimestre 2025, suivies d'un programme de forage de phase IV de plus de 40,000+ meter en septembre 2025.
Faraday Copper (TSX:FDY) hat seine Finanzergebnisse für das zweite Quartal 2025 vorgelegt und Updates zum Copper Creek-Projekt veröffentlicht. Das Unternehmen sicherte sich eine bedeutende Finanzierung in Höhe von $48.77 million durch Privatplatzierungen zu je $1.10 pro Aktie. Zu den wichtigen operativen Punkten zählen die BLM-Zulassung des Exploration Plan of Operations und der Abschluss der Phase-III-Bohrungen mit 79 drill holes und 30,069 meters.
Die Finanzzahlen zeigen einen Nettoverlust von $13.23 million für das erste Halbjahr 2025, bei einer liquiden Mittelposition von $2.39 million per 30. Juni 2025. Das Unternehmen plant, bis zum dritten Quartal 2025 eine aktualisierte Mineralressourcenschätzung und eine vorläufige Wirtschaftlichkeitsstudie (Preliminary Economic Assessment) vorzulegen, gefolgt von einem Phase-IV-Bohrprogramm über 40,000+ meter im September 2025.
- Secured $48.77 million in new financing through private placements
- Received BLM approval for Exploration Plan of Operations with 67 new drill pads
- Completed Phase III drilling program with 79 drill holes totaling 30,069 meters
- Demonstrated high copper recovery through coarse grind and flotation in metallurgical tests
- Discovered new Winchester Breccia and expanded near-surface mineralization
- Net loss increased to $13.23 million in H1 2025 from $10.93 million in H1 2024
- Cash position decreased significantly to $2.39 million from $17 million in December 2024
- Operating expenses increased with exploration costs rising to $10.63 million from $8.80 million YoY
- Requires additional funding for continued operations despite recent financing
VANCOUVER, BC / ACCESS Newswire / August 11, 2025 / Faraday Copper Corp. ("Faraday" or the "Company") (TSX:FDY) announces its financial results for the three and six months ended June 30, 2025.
Highlights Year to Date
Announced closing of a financing for gross proceeds of
$48,773,450 on July 29, 2025. The financing includes a brokered bought deal private placement of 26,139,500 common shares at a price of$1.10 per share, and a non-brokered private placement of 18,200,000 common shares at a price of$1.10 per share.Announced approval from the Bureau of Land Management for the Company's Exploration Plan of Operations for the Copper Creek Project on July 2, 2025.
Announced an expansion of the near-surface mineralization in the American Eagle Area and identification of exploration upside at the Sunrise Trend, on June 19, 2025.
Reported results from the Company's Annual General Meeting on June 18, 2025.
Reported near-surface supergene copper mineralization at the Globe and Copper Prince breccias, including 10.08 metres ("m") at
3.62% copper and 38.90 m at0.51% copper, on May 15, 2025.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 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
Updated Mineral Resource Estimate and Preliminary Economic Assessment near the end of the third quarter of 2025.
Commencement of a 40,000+ m Phase IV drill program in September 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 over 320 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 focused 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. All results from the Phase III drilling have been released.
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.
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.
On June 30, 2025, the Company received approval of its Exploration Plan of Operations ("EPO") by the Bureau of Land Management ("BLM"). The BLM published the final Environmental Assessment, and finding of no significant impact ("FONSI") and issued a related Decision Record approving the EPO. The EPO includes up to 67 drill pads located on Federal land:
48 drill pads in or near the American Eagle area and the southern portion of the Mammoth resource area;
10 drill pads in or near other existing resource areas at Old Reliable, Globe, Copper Prince and Copper Giant; and
9 drill pads that enable reconnaissance drilling on previously untested targets
Financial Results
Three months ended | Six months ended | |||||||||||||||
In Canadian dollars | June 30, 2025 | June 30, 2024 | June 30, 2025 | June 30, 2024 | ||||||||||||
Exploration and evaluation expenses | $ | 4,146,179 | $ | 4,332,148 | $ | 10,630,687 | $ | 8,796,358 | ||||||||
General and administration | $ | 585,980 | $ | 569,467 | $ | 1,267,652 | $ | 1,265,009 | ||||||||
Share-based compensation | $ | 462,678 | $ | 323,042 | $ | 846,804 | $ | 592,659 | ||||||||
Net Loss | $ | 5,414,380 | $ | 5,426,500 | $ | 13,234,811 | $ | 10,926,335 | ||||||||
Basic and Diluted Loss per Share | $ | 0.03 | $ | 0.03 | $ | 0.06 | $ | 0.06 | ||||||||
Note: The financial information in this table was selected from the Company's condensed interim consolidated financial statements for the three and six months ended June 30, 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 | June 30, 2025 | December 31, 2024 | ||||||
Cash and cash equivalents | $ | 2,393,384 | $ | 17,003,895 | ||||
Property and equipment | $ | 17,224,640 | $ | 18,037,072 | ||||
Resource properties | $ | 4,955,328 | $ | 4,955,328 | ||||
Total assets | $ | 25,034,590 | $ | 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 June 30, 2025, the Company had cash and cash equivalents of
During the six months ended June 30, 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
On July 29, 2025, the Company completed a private placement financing for gross 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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