Mining exploration company Idaho Copper (COPR.US) IPO priced at $6.50 per share, raising the financing scale to $18 million.

Mineral exploration company Idaho Copper, focused on the Copper Molybdenum Silver project in Idaho, increased the proposed size of its upcoming initial public offering (IPO) on Monday. The company now plans to issue 2.8 million shares at a price of $6.50 per share, raising $18 million. Initially, the company had applied to issue 800,000 shares at a price of $6.40 per share, which was later increased to 2.3 million shares at the same price. The company plans to list on the NYSE American under the ticker symbol "COPR". Idaho Copper's core business is the exploration and development of the CuMo project, a copper molybdenum silver deposit in Idaho. The project covers approximately 2,640 acres and includes 132 mining claims, consisting of 126 federal unpatented lode mining claims and 6 patented mining claims. The project has the support of a preliminary economic assessment report completed in 2020, with an updated version currently being prepared.