IE
🇺🇸 Focused on US assets, primarily the large Santa Cruz copper deposit in Arizona, positioning it for potential government support and strategic importance.
💡 Leverages founder Robert Friedland’s reputation and includes other ventures like exploration in Saudi Arabia and proprietary geophysics technology (Typhoon).
💸 Criticized for a ‘stupid’ and ‘ridiculous’ valuation since its IPO, potentially not justified by current asset development stage and mixed exploration results elsewhere.
@Academiadeinversion:
“Ivanhoe Electric was set up by Friedland… when did it go public, I think, two years ago or so? Maybe two and a half, it hasn’t been public long. It’s basically a new venture, to gather various assets that Friedland likes. The main asset is Santa Cruz, which is one of the largest deposits, I think the third largest copper deposit in the United States, there in Arizona. Then it also has some other things he’s put in, like for example a joint venture, not with the government no, but with a couple of local partners in Saudi Arabia to explore the western desert, and it has some other little things here and there. It has, for example, Typhoon, which is a rather promising geophysical exploration technology. But this one, I’ve never liked it. I mean, the valuation is stupid. In fact, since they launched it, I’ll check to confirm, but well, it’s been quite ‘meh’, actually. Wow, well, ‘meh’… Well, it’s… yes, it came out in 2022, it’s down 25% since then, and I thought it was worse, because this one really had a ridiculous valuation, trading at over a billion, well, with Santa Cruz where they don’t even know what method they’ll use to mine. The other promising one it had was Tintic for exploration, and there haven’t been good results so far. No, no, no. It was the typical one that existed because Friedland was behind it, otherwise, it wouldn’t trade at even half the price. Simple as that. Oh, and obviously, this is also, of course, a strategic-political bet too, for the United States theme, for the government to give them money, which has been confirmed to be true. In fact, I think one of the American development banks, I don’t know if they said they were going to put 300 million in debt to help build Santa Cruz. So, you know, Friedland knows what he’s doing, and that’s also why it trades in the United States, on the NYSE, of course. He knows what he’s doing.”
Watch the exact part of the video where @Academiadeinversion talks about Ivanhoe Electric Inc. here:
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