Santa Cruz Copper Project

Ivanhoe Electric — Arizona, USA · Copper (cathode) · NI 43-101 FS · delivered July 2026
Report after-tax NPV(8%)US$1,376M
Independently rebuilt after-tax NPV(8%)US$1,361M
Variance vs report−1.1% (deliberate, decomposed)

What the rebuild surfaced. The rebuild found the report's published cash-flow table does not reproduce its own headline pre-tax NPV, and its closure line disagrees with its capital table — proven by cross-footing the report against itself. Our variance is deliberately held and decomposed rather than forced to tie.

Rebuilt economic modelExcel · formula-driven · every input footnoted · sensitivity dashboard · view in the browser; Excel download by credit

Subscribers view every model in the browser at launch; Excel downloads use download credits. A sample model is available on request: email [email protected].

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