Faraday Copper Announces Closing of C$100 Million Offering with Participation by a Lundin Family Trust and BHP

The most recent news (March 11, 2026) confirms the closing of 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, which sits adjacent to Faraday’s flagship Copper Creek project. Key participants in the financing include a Lundin Family Trust and a wholly owned subsidiary of BHP Group Limited. BHP’s entry is particularly significant, as the acquisition terms involve Faraday issuing shares to BHP equivalent to a 30% interest in the company.

This is a "Game Changer" for Faraday Copper for three primary reasons: - Strategic Consolidation: The acquisition of San Manuel allows for the integration of a past-producing mine with Copper Creek, potentially creating a "multi-generational copper district." This significantly improves project economics through shared infrastructure and a reduced environmental footprint. - Tier-1 Validation: Securing BHP as a 30% shareholder and a strategic partner, alongside continued heavy support from the Lundin family, provides a level of technical and financial validation rarely seen in junior developers. - Massive De-risking: The C$100M capital injection, priced at C$4.20 (a massive premium to the C$1.10 financing in July 2025), provides the treasury required to aggressively advance the combined projects without immediate dilution concerns.

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 average annual payable production of 106 Mlbs Cu. - Expansion: The San Manuel acquisition adds a past-producing asset that was once one of the largest underground copper mines in the US, offering significant brownfield synergy.