0001493152-26-007382
SEC filingIdaho Copper Corporation is a mineral exploration and development company focused on advancing the CuMo Project, a large copper-molybdenum-silver deposit in Boise County, Idaho, comprising 126 federal unpatented lode mining claims and 6 patented mining claims totaling approximately 2,640 acres. The company seeks to capitalize on a looming copper supply deficit through this potentially one of the largest untapped copper projects in the United States, with economics enhanced by high-value co-products molybdenum and silver. A Preliminary Economic Assessment (PEA) was completed in May 2020 by SRK Consulting (Canada) Inc., and an updated PEA has been in process since June 2024. Financially, the company reports no revenue, with net losses of $5,137,332 for the year ended January 31, 2025, and $3,712,047 for 2024, alongside cash of $2,067 as of October 31, 2025, and total liabilities exceeding $6 million, raising substantial going concern doubts. The company is pursuing an initial public offering of 2,343,750 shares of common stock at an estimated $6.40 per share, aiming to raise approximately $13.8 million in net proceeds for general corporate purposes, including completing an updated PEA ($700,000), SG&A ($2.5 million), debt retirement ($1.5 million), a 2026 drilling program ($8.6 million), and purchasing property ($500,000). Listing on NYSE American under 'COPR' is contingent on approval. The investment thesis centers on the CuMo Project's potential amid copper demand, though execution risks from exploration uncertainties, permitting challenges, and funding needs are significant.