Ivanhoe Electric Inc.
(Note: This is an IPO – a dual listing on the NYSE American and the Toronto Stock Exchange (TSX) – both under the “IE” stock symbol. Ivanhoe Electric, Inc. filed terms for its IPO in an S-1/A filing dated June 17, 2022. The S-1 was filed on May 24, 2022.)
We are a United States domiciled minerals exploration and development company with a focus on developing mines from mineral deposits principally located in the United States in order to support American supply chain independence and to deliver the critical metals necessary for electrification of the economy. We believe the United States is significantly underexplored and has the potential to yield major new discoveries of these metals.
*Note: In addition to its mining interests, Ivanhoe Electric also owns an energy storage (batteries) business and a geophysical data- processing business. The company has not produced any revenue yet from its mining activities, the prospectus said. Revenue and net loss figures are for the last 12 months as of March 31, 2022.
We are committed to the sustainable development of our projects by embedding environmental, social, and governance (“ESG”) criteria in our decision-making framework from the earliest stages of project exploration and development. We are committed to building upon our team’s strong ESG track record, including at Ivanhoe Mines Ltd. (“Ivanhoe Mines”), founded by Robert Friedland, our founder, leveraging best practices and seeking to establish Ivanhoe Electric as an ESG leader in the mining sector. Key considerations that will influence our decision making include, but are not limited to, using clean and renewable energy in our future mining operations, optimizing and minimizing our water resource utilization, minimizing our environmental footprint, ensuring workforce diversity and hiring from local communities, health, safety and environmental (“HSE”) performance as well as cultural heritage and biodiversity protection. Most importantly, our products also play a critical ESG role by enabling the clean energy transition.
Our two material mineral projects are located in the United States and are known as the Santa Cruz Copper Project (“Santa Cruz”) in Arizona and the Tintic Copper-Gold Project (“Tintic”) in Utah. Santa Cruz is situated in a prolific mining region that hosts some of the largest copper mines in the United States. Tintic was a historically significant silver-producing district, as well as a copper and gold district, that we believe has the potential to host a world-class porphyry copper-gold deposit. We have the option to acquire 100% of the mineral rights constituting the Santa Cruz and Tintic projects.
(Note: Ivanhoe Electric Inc. priced its IPO on June 27, 2022, at $11.75 – the low end of its $11.75-to-$12.50 price range – on the full 14.39 million shares in the prospectus – to raise $169.1 million.)
|Industry:||Mining - Copper, Gold & Other|
|Address||606 – 999 Canada Place Vancouver, BC V6C 3E1 Canada|
|Phone Number||(604) 689-8765|
|View Prospectus:||Ivanhoe Electric Inc.|
|Revenues||$9.86 mil (last 12 months)|
|Net Income||$-70.0 mil (last 12 months)|
|Exchange||NYSE - American|
|Price range||$11.75 - $11.75|
|Est. $ Volume||$169.1 mil|
|Manager / Joint Managers||BMO Capital Markets/ Jefferies/ J.P. Morgan|
|CO-Managers||Raymond James/ RBC Capital Markets/ Scotiabank|
|Expected To Trade:||6/28/2022|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|