Ivanhoe Electric subsidiary Cordoba sells remaining 50% of Alacrán copper project for up to $128M

Ivanhoe Electric Inc.

Up to $128M total: $88M cash on closing, $12M deferred, up to $28M contingent on copper price >$12,000/t.
Ivanhoe Electric expects cash distribution of over $40M from initial proceeds after Cordoba retains $5M reserve.
Closing conditions: Cordoba shareholder approval, TSXV approval, Colombian environmental approval; deadline Dec 31, 2025.
Post-sale, Cordoba continues as public company with 51% Perseverance Copper Project in Arizona.

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