Mining exploration company Idaho Copper (COPR.US) has increased its IPO size by 200%, aiming to raise $15 million.

The mineral exploration company Idaho Copper (COPR.US), focused on the Idaho Copper Molybdenum Silver Project, announced on Thursday an increase in the size of its upcoming initial public offering (IPO). The company, headquartered in Boise, Idaho, plans to issue 2.3 million shares at a price of $6.40 per share, raising $15 million, based on recent over-the-counter (OTC) market prices. The company had previously filed for the issuance of 800,000 shares at the same price. Under the revised terms, Idaho Copper's fundraising will increase by 200% compared to the original estimates, and the fully diluted market value will reach $115 million (a 6% decrease from the original terms). 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 2640 acres and includes 132 mining claims, including 126 federal unpatented lode mining claims and 6 patented mining claims. The project has received a preliminary economic assessment report completed in 2020, with an updated report currently being prepared. Founded in 2005, Idaho Copper plans to list on the NYSE American stock exchange under the ticker symbol COPR. ThinkEquity is the exclusive underwriter for this IPO.