Faraday Copper Announces up to C$100 Million Private Placement with Participation by the Lundin Family Trust and BHP

The most recent news (February 23, 2026) announces a C$100 million non-brokered private placement at C$4.20 per share. This follows the February 20, 2026, announcement of a non-binding Letter of Intent (LOI) to acquire BHP’s San Manuel property. San Manuel is a past-producing mine adjacent to Faraday’s flagship Copper Creek project. Under the LOI, BHP will receive a 30% equity stake in Faraday. The financing includes participation from the Lundin Family Trust and BHP, the latter of which has committed to maintaining its 30% interest in future equity raises up to US$20 million.

This is a "Game Changer" event for Faraday Copper. - Strategic Consolidation: The acquisition of San Manuel allows for the consolidation of two adjacent assets, creating a district-scale project in Arizona. This likely optimizes infrastructure and permitting. - Tier-1 Validation: Having BHP (the world’s largest miner) and the Lundin Family Trust (renowned resource investors) as cornerstone shareholders provides immense technical and financial validation. - Capital Infusion: The C$100M raise is massive relative to the company's previous cash position (C$45.8M in Sept 2025) and provides the "war chest" needed to advance the combined assets through feasibility. - Pricing Strength: The financing at C$4.20 is significantly higher than the C$1.10 financing completed in July 2025, indicating a massive re-rating of the company's value in the market.

Faraday Copper is focused on the Copper Creek Project in Pinal County, Arizona. - Flagship: Copper Creek is a large Cu-Mo-Ag porphyry/breccia deposit. - Resource: 4.2 billion pounds of Measured & Indicated copper. - PEA Status: 32-year mine life with an NPV of $713M (at $3.80 Cu) and an IRR of 16%. Note: These metrics will likely be completely revised following the San Manuel acquisition. - Location: Situated in a premier mining jurisdiction with existing infrastructure.