Marimaca Copper Shares Surge Following $17.7 Million Private Placement Announcement
Marimaca Copper Corp. witnessed a strong rally in its share price on Wednesday, posting double-digit gains after the company announced a C$24 million (US$17.7 million) non-brokered private placement. The funding will support the advancement of its flagship Marimaca Copper Project in northern Chile, one of Latin America’s most promising open-pit copper oxide developments.
Details of the Private Placement
Marimaca Copper revealed that it intends to issue approximately 20 million common shares at a price of C$1.20 per share, resulting in total gross proceeds of C$24 million.
Key Aspects:
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Type: Non-brokered private placement
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Shares Offered: 20 million
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Price Per Share: C$1.20
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Total Raised: C$24 million (~US$17.7 million)
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Use of Proceeds: To fund development studies, ongoing permitting, exploration, and general corporate purposes
According to the company, this infusion of capital will bolster its balance sheet and enable the acceleration of technical and environmental assessments as it moves closer to a construction decision.
Market Reaction
Following the announcement, Marimaca Copper’s stock surged over 15% on the TSX, reflecting investor optimism about the project’s future and confidence in the company’s strategic direction. The sharp move is notable in a broader market environment where junior mining companies have struggled to attract significant investment.
Strategic Significance of the Fundraise
The Marimaca Copper Project, located in the Antofagasta region of Chile, has attracted attention due to its:
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Large-scale, shallow oxide deposit with a low strip ratio
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Robust Preliminary Economic Assessment (PEA) indicating competitive production costs
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Excellent infrastructure access, including proximity to roads, ports, and power
With copper demand projected to increase due to the energy transition and electrification trends, Marimaca is positioning itself to become a key mid-tier copper producer.
Management Commentary
Marimaca Copper’s CEO Hayden Locke commented:
“We are extremely pleased by the support shown from both new and existing investors. This financing puts us in a strong position to advance the Marimaca Project toward a development decision while continuing to unlock value for shareholders.”
About Marimaca Copper Corp.
Headquarters: Vancouver, Canada
Operations: Northern Chile
Focus: Development of the Marimaca Copper Project – a scalable, low-cost, oxide copper deposit suitable for open-pit mining and SX-EW processing
Listing: Toronto Stock Exchange (TSX: MARI)
Industry Context
Copper is a critical mineral for renewable energy, electric vehicles, and infrastructure. With global supply tightening and long lead times for new production, projects like Marimaca are garnering increased investor attention. The private placement and subsequent share rally underscore investor appetite for high-quality, near-development copper assets.