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Paul Harbidge is back with a new company after his GT Gold was acquired for nearly half-a-billion dollars two years ago.
On Tuesday Harbidge, CEO of Faraday Copper (TSX:FDY), spoke to Kitco at the 2022 Precious Metal Summit Zurich.
Faraday is focused on its Copper Creek project in Arizona, one of the largest undeveloped copper projects in North America, according to Harbidge. The mineral resource is over 3.9 billion pounds of copper measured and indicated. If built the mine would have a potential for a 30-year production life. A preliminary economic assessment is planned for the second quarter of next year.
Faraday Copper’s investors include the Lundin family, Murray Edwards and Pierre Lassonde. This month the company started trading on the Toronto Stock Exchange.
Harbidge has a track record. Previously he led GT Gold, which was acquired by Newmont Mining in 2021 for C$456 million. Prior to that he was senior vice president of exploration for Goldcorp.
To make Faraday a success, Harbidge has to set the company’s culture.
“One of our theses is to bring senior company mentality to the junior world—making sure that we are getting empirical data to make informed decisions as opposed to just assumptions,” said Harbidge.
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0:25 – Paul, what’s the copper thesis?
0:41 – What are you focused on?
1:00 – You just listed on the TSX.
1:28 – Talk about the team at Faraday.
2:14 – What’s the work done to date on the project?
3:06 – Is the community around the project supportive of mining?
3:44 – Are you financed?
5:13 – Talk about share structure. You What have some well-known names backing you.
5:36 – Lastly, milestones over the next 12 months?
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