Friedland advances Ivanhoe Electric listings

By Steven Swindells / June 17, 2022 / www.mining-journal.com / Article Link

The initial public offering price for 14.388 million shares would be between US$11.75-12.50 per share, the firm said in a filing to the NYSE.

Underwriters to the offering have an option to purchase a maximum of 2,158,200 additional shares of common shares.

Ivanhoe Electric in an initial filing registration to the NYSE last month said the planned dual listing was "in order to support American supply chain independence and to deliver the critical metals necessary for the electrification of the country." 

Ivanhoe Electric owns the Santa Cruz copper project in Arizona which it says is the second-largest copper deposit in the US.

It also holds rights to the Tintic gold-copper mine in Utah which in the filing prospectus it describes as having "the potential to host a world-class porphyry copper-gold deposit".

The firm's assets also include the Hog Heaven silver-gold-copper project in Montana.

Ivanhoe Electric had US$29.8 million in cash and $130.5 million in liabilities at the end of the first quarter this year.

 

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