Northwire Canada EditionWednesday, November 11, 2026
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Gold 4,030.20 −2.0% Silver 51.23 −2.8% Copper 6.27 −1.2% Oil 86.04 −0.9% Palladium 1,024.00 +0.2% NVX 0.910 +0.0% MSR 0.435 +0.0% ELE 22.85 −4.0% ALS 53.01 −2.2% APM 5.13 −6.6% AVL 5.46 −5.4% NG 8.84 −9.0% ATY 0.220 −2.2% CN 0.125 −10.7% PMET 3.22 −4.2% ITH 1.99 −11.6% VMET 12.33 −6.9% ABX 56.41 −5.6% PUR 0.370 +8.8% SCY 0.085 +6.2% AUMN 0.300 +7.1% Gold 4,030.20 −2.0% Silver 51.23 −2.8% Copper 6.27 −1.2% Oil 86.04 −0.9% Palladium 1,024.00 +0.2% NVX 0.910 +0.0% MSR 0.435 +0.0% ELE 22.85 −4.0% ALS 53.01 −2.2% APM 5.13 −6.6% AVL 5.46 −5.4% NG 8.84 −9.0% ATY 0.220 −2.2% CN 0.125 −10.7% PMET 3.22 −4.2% ITH 1.99 −11.6% VMET 12.33 −6.9% ABX 56.41 −5.6% PUR 0.370 +8.8% SCY 0.085 +6.2% AUMN 0.300 +7.1%
M&A / Property

Faraday Copper Signs Letter of Intent to Acquire BHP's San Manuel Property in Arizona, Creating a Multi-Asset Copper District in the USA

BHP Endorsement Transforms Faraday into a Tier-1 Copper District Contender in Arizona

By The Northwire Desk — AI Analysis Feb 20, 2026 · 07:05 FDY · 3.41 Faraday Copper Corp.
Executive Summary

On February 20, 2026, Faraday Copper announced a non-binding Letter of Intent (LOI) with BHP Group Limited to acquire the 100% interest in the San Manuel property, which sits adjacent to Faraday’s Copper Creek project in Arizona. In exchange, BHP will receive a 30% fully diluted interest in Faraday Copper. Furthermore, BHP has committed to a 24-month financing participation right, agreeing to subscribe for 30% of any equity raise up to an aggregate of US$20 million. The agreement includes a six-month exclusivity period for due diligence, with a definitive agreement expected by the end of Q3 2026.

Material Impact

This is a transformative "Game Changer" event. - Strategic Validation: BHP is the world’s largest mining company. Their willingness to take a 30% equity stake in exchange for an asset confirms the high technical merit and strategic importance of the Copper Creek district. - District Consolidation: San Manuel is a past-producing mine with significant infrastructure. Combining it with Copper Creek allows for optimized mine planning, a smaller environmental footprint, and shared infrastructure, which significantly improves the project's Net Present Value (NPV). - Funding Backstop: The US$20 million financing commitment from BHP provides a massive safety net for future exploration and development costs, reducing the risk of predatory dilutive financings. - Major Partner Entry: Following the 15% investment from the Lundin Family Trust earlier, Faraday now has two of the most prestigious names in mining on its share registry.

FDY · Price
Company Overview

Faraday Copper is focused on its flagship Copper Creek Project in Arizona, USA. - Project: Copper Creek is one of the largest undeveloped copper-molybdenum-silver projects in the U.S. - Status: Currently at the Preliminary Economic Assessment (PEA) stage with a 32-year mine life. - Resource: Measured and Indicated resources of 4.2 billion pounds of copper. - San Manuel Addition: The acquisition of BHP's San Manuel adds a past-producer to the portfolio, creating a multi-generational copper district.

Read the original news release →

More from Faraday Copper Corp.

Oct 30, 2026 · 19:58

Faraday’s stake is diluted by the BHP deal closure, with the next catalyst being the upcoming drill program.

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M&A / Property Sep 03, 2026 · 17:00

Faraday expands its near-surface oxide resource at the Arizona Copper project as Lundin Trust increases its stake in the development.

M&A / Property Sep 03, 2026 · 07:05

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Drill Results Aug 25, 2026 · 17:05

Faraday shareholders approved the BHP San Manuel acquisition, targeting a closing in the third quarter.

M&A / Property Aug 07, 2026 · 17:15

Cash-rich Faraday reports a deeper Q2 loss and reiterates its plan to close the San Manuel mine by the end of Q3.

Earnings