Ivanhoe Electric Inc. Stock Price, News & Analysis

Ivanhoe Electric (NYSE American: IE) has accelerated and completed the final three land acquisition payments of $39.3 million for the Santa Cruz Copper Project in Arizona, satisfying the remaining terms of the Purchase and Sale Agreement with Wolff-Harvard Ventures.

The previously issued promissory note has been repaid in full, which the company says clears the way for initial mine construction activities subject to receipt of necessary permits. Management expects to commence initial construction in early 2026 and aims to deliver first copper cathode production by late 2028.

Ivanhoe Electric (NYSE: IE) secured credit approvals for a $200 million senior secured multi-draw bridge facility to support development of the Santa Cruz Copper Project. Joint lead arrangers are National Bank Capital Markets, Societe Generale, and BMO Capital Markets. Closing is expected in December 2025 subject to definitive documentation.

The two-year facility is priced at SOFR +5.0% (currently ~8.8% on drawn amounts), with step-ups at months 6, 12 and 18. The facility is secured by Santa Cruz land and physical assets. Ivanhoe targets first copper cathode production in late 2028 and is pursuing additional project financing including an $825 million EXIM letter of interest; the company says it will add over $360 million liquidity this quarter.

Ivanhoe Electric (NYSE American: IE) announced on October 27, 2025 that the underwriters fully exercised their option to purchase an additional 1,500,000 shares, closing an underwritten public offering of a total of 11,500,000 common shares at $15.00 per share. Gross proceeds were $172.5 million before underwriting discounts, commissions and estimated offering expenses.

Net proceeds are intended to pay remaining land purchase obligations and fund early development at the Santa Cruz Copper Project (Arizona), support exploration at current projects and joint ventures, and for working capital and general corporate purposes.

Ivanhoe Electric (NYSE American: IE) priced an underwritten public offering of 10,000,000 common shares at $15.00 per share, for gross proceeds of approximately $150 million. The company granted underwriters a 30-day option to buy up to an additional 1,500,000 shares at the same price less underwriting discounts and commissions.

The offering is expected to close on October 23, 2025, subject to customary closing conditions. Net proceeds are intended to fund remaining land payments and early development at the Santa Cruz Copper Project in Arizona, exploration at current projects and joint ventures, and general corporate purposes.

Ivanhoe Electric (NYSE American: IE) announced an underwritten public offering to sell US$125 million of common stock and granted underwriters a 30‑day option for up to an additional US$18.75 million. The offering is subject to market and other conditions and may not be completed.

Proceeds are intended to fund remaining land payments and early development at the Santa Cruz Copper Project in Arizona, exploration at current projects and joint ventures, and general corporate purposes. BMO Capital Markets is lead manager; J.P. Morgan and National Bank of Canada Capital Markets are co-managers. The offering is being made by prospectus under a previously effective Form S-3.

Ivanhoe Electric (NYSE American: IE) and Saudi Arabian Mining Company Maaden have expanded their 50/50 joint venture with 1,345 square kilometers of new exploration licenses in Saudi Arabia. The expansion includes the 946 square kilometer Musayna'ah Licenses with Iron Oxide-Copper-Gold characteristics and the 399 square kilometer Mahd Area Licenses adjacent to Maaden's Mahd Ad Dhahab gold mine.

The Joint Venture has completed 510 square kilometers of geophysical surveys in 2025 using Ivanhoe's Typhoon™ system and drilled four holes totaling 2,100 meters across the Al Amar Belt. Plans include continuous Typhoon™ surveying and an additional 4,000 meters of drilling planned for the Wadi Bidah area in 2025.

Ivanhoe Electric has completed a Preliminary Feasibility Study for its Santa Cruz Copper Project in Arizona, revealing strong economics with an after-tax NPV8% of $1.9B and 24% IRR at current copper prices. The project features Probable Mineral Reserves of 136M tonnes at 1.08% copper grade, supporting a 23-year mine life. The operation will produce 1.4M tonnes of copper cathode through heap leaching, with initial capital costs of $1.24B and first quartile cash costs of $1.32/lb. The project, located on private land, targets construction in H1 2026 with first production in 2028. At 20,000 tonnes per day, it will average 72,000 tonnes of annual copper cathode production in the first 15 years with 92.2% recovery. The study positions Santa Cruz as a significant future domestic copper producer, with strong potential for project financing including possible U.S. government support.

Ivanhoe Electric's subsidiary Cordoba Minerals Corp. has signed a definitive agreement to sell its remaining 50% stake in the Alacran Copper Project in Colombia for up to US $128 million. The buyer is a consortium including JCHX Mining Management Co., which already owns 50% of the project. The deal structure includes: US $88 million in initial cash payment, US $12 million deferred payment upon commercial production or within 36 months, and up to US $28 million in contingent payments based on copper prices. Ivanhoe Electric expects to receive over US $40 million from the initial proceeds. The transaction must close by December 31, 2025, and requires TSX Venture Exchange approval, Cordoba shareholder approval, and Environmental Impact Assessment approval. Post-transaction, Cordoba will remain public, focusing on its 51%-owned Perseverance Copper Project in Arizona.

Ivanhoe Electric (NYSE American: IE) has received a Letter of Interest from the Export-Import Bank of the United States (EXIM Bank) for potential debt financing of up to $825 million with a 15-year repayment term for its Santa Cruz Copper Project in Arizona.

The financing would be provided through EXIM Bank's Make More in America initiative, aimed at strengthening domestic supply chains and reducing strategic vulnerabilities. The Santa Cruz project, which is 100%-owned by Ivanhoe Electric, is positioned to produce pure copper cathode on-site to meet rising US demand for domestically sourced copper.

The company is also pursuing additional government support programs, including EXIM Bank's Supply Chain Resilience Initiative and Section 45X advanced manufacturing production tax credit. The Preliminary Feasibility Study is scheduled for completion in June 2025, with initial construction activities planned to begin in the first half of 2026.