Faraday Copper Reports 2024 Financial and Operational Results

Faraday Copper Corp. has released its financial results for the year ending December 31, 2024. The company recorded a net loss of $22.55 million, reflecting its active exploration activities at the Copper Creek Project. Exploration and evaluation expenses were noted at $18.65 million, compared to $15.42 million in 2023.

Operational highlights include significant drill results across several areas, including the American Eagle Area and Banjo breccia, with notable copper recoveries. The completion of a $23 million equity financing on May 30, 2024, supported these developments.

Faraday continues its metallurgical programs, confirming robust copper recovery rates. The company's future goals include the integration of gold data in resource updates as the Phase III drill program progresses.

Cash and cash equivalents stood at $17 million, up from $14.9 million in 2023. Financing activities contributed $22.18 million, highlighting Faraday’s reliance on equity funding for operational progression.