Marimaca Copper Corp T.MARI

Alternate Symbol(s): MARIF

Metals & Mining Copper

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

Marimaca Copper Corp

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Post by Oregonduckon Aug 07, 2018 7:33pm

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Post# 28424441

Massive, Massive Dilution

COP total outstanding share capital will add up to a whole lot of zeros at 1.46 billion shares (rounded) when all is said and done. Didn't the Co. management said recently they would avoid dilution by selling off Berta and contemplating selling Ivan plant ?

This Co. is in serious financial distress and its project is not bankable and/or alternative funding not feasible. Rights offering is not common in Canada or the US, but more so in Asia and Europe as it is deemed a form of "forced feeding" for foie gras whether the duck likes it or not (pun intended).

https://www.cbj.ca/rights_offerings_the_good_bad_and_ugly_when_starved_for_cash/

Should COP shareholders be unwilling or unable to meet the "cash call", they can sell their rights in the Open market on August 22nd. I speculative the COP.RT will go for around 2 cents. But, following the completion of the rights offering, current shareholders - for all intent and purposes - would see a bloated share company.

COP is betting the farm on its exploration on the flagship Marimaca property and surrounding claims.

As I posited before, GS should just take this Co. private at 50% premium to mkt. and spare the massive dilution

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