Boise, Idaho, Nov. 05, 2024 (Idaho Copper Corp. (OTC Pink: COPR), hosted its Inaugural Investor Webinar. The webinar focused on the company’s project timeline and financing plans.
Project Timeline and Financing Plans
Andrew Brodkey, CEO, discussed the potential timeline for the project, stating that if there were no legal challenges, he project could potentially be commissioned by 2030 or 2031. He also mentioned that the company plans to raise $20 million to offset half the cost of the estimated $40 million for the pre-feasibility study (PFS), with $15 million going towards drilling and fieldwork. He also noted that the company is in touch with grant writers to secure financing from the Department of Defense or the Department of Energy. Robert Scannell, CFO, added that the company’s share price could potentially increase once the updated PEA is available and the company has more liquidity. He also clarified that Multi Metals’ shares are subject to a lockup agreement, preventing them from being registered for two years. Andrew also addressed the question about when the company would start generating revenue, stating that in the U.S., generally it could take up to 29 years from discovery to a mine being put into place due to the lengthy permitting process and litigation, although Idaho Copper’s hope again is to construct the project before the end of this decade.
Next steps
- The company is set to approach DOD and DOE for financing, submitting a detailed white paper about the project.
- Company to proceed with uplisting and raising $20 million to offset half the cost of the PFS.
- Company to continue with the pre-feasibility study (PFS) over the next 18 to 24 months.
