EXIM Bank Aids Ivanhoe Electric's Arizona Copper Project with $1.1 Billion Funding

Ivanhoe Electric's Santa Cruz copper project in Arizona is one step closer to construction after the US EXIM Bank offered to fund it with a potential $1.1 billion debt financing. This deal significantly de-risks funding for the project, which has all key permits secured and is construction-ready.

The company trades at a steep discount, with its current enterprise value (EV) of $1.44 billion being significantly lower than its net asset value (NAV) of $3.06 billion at a copper price of $6.00. This discrepancy provides an opportunity for investors to buy in at a low price.

Ivanhoe Electric's CEO has not commented on the potential funding deal, but analysts are optimistic about the project's prospects. Chirag Sankaliya/iStock via Getty Images