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Marimaca Copper Corp T.MARI

Alternate Symbol(s):  MARIF

Marimaca Copper Corp. is a Canada-based exploration and development company focused on base metal projects in Chile. The Company’s principal asset is the Marimaca Copper Project, located in the Antofagasta Region of northern Chile. The Marimaca Copper Project is situated at a low altitude in Chile’s Coastal Copper Belt, 25 kilometers (km) east of the port of Mejillones and 45 km north of Antofagasta, Marimaca has access to water and power, road and rail networks supplying sulphuric acid and other consumables, as well as deepwater ports. The Marimaca Copper Project comprises a set of concessions (the 1-23 Claims), properties 100% owned and optioned by the Company, combined with the adjacent La Atomica and Atahualpa claims, over which Marimaca Copper has the right to explore and exploit resources. The Company also has an option agreement to acquire the Pampa Medina project (Pampa Medina), which consists of four mining concessions totaling 144 hectares.


TSX:MARI - Post by User

Bullboard Posts
Post by Oregonduckon May 11, 2017 9:47pm
107 Views
Post# 26234880

Pretty Mundane Stuff

Pretty Mundane Stuff
The financials & Management Discussions just came out.

(Financial statements expressed in US Dollar)

For the latest 3 months ending March 31, 2017, the cash on hand was stated to be $2.5 million. No term debts to speak off other than trade payables & contingent liabilities such as reclamation costs, etc, Quick ratio is 1:1. Equity account is positive.

Current cash on hand should be around $10 million with the added final tranche funding of $13.8 million to the $2.5 million in April, 2017, subtracting $6.25 million for the Ivan plant. A similar copper processing plant will cost around $100 million Capex.

The Company appears flush with cash now.

The one million incentive options granted to the new IR VP Nemeth were set at $0.16 per share.





Bullboard Posts