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.

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Marimaca Copper Corp > Chilean news - politics is moving to the centre ground ...

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Post by Brecknockon Jul 21, 2021 2:21pm

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Post# 33582215

Chilean news - politics is moving to the centre ground ...

CHILE: SURPRISE RESULTS AT PRESIDENTIAL COALITION PRIMARIES SHOW SHIFT TO POLITICAL CENTRE! (Jadue is OUT!) : Neither of the two leading figures in recent polls ended up winning their coalition’s presidential primaries at Sunday’s (July 18) vote in Chile. These included the candidate from the Communist Party, Daniel Jadue, who failed to secure the nomination. Two key coalitions at both ends of the political spectrum fielded a total of six candidates: four from “Chile Vamos” (ruling centre-right), and two from “Apruebo Dignidad” (far left). The two winners will move on to the presidential first-round election on November 21, running against candidates from other parties and coalitions.

On the right, former cabinet minister (with the Christian Democratic Party) and former president of Chile’s Banco del Estado, Sebastin Sichel (43) ran as an independent and took away the nomination with 49% of votes in a four -candidate race. Joaqun Lavn, who had polled as the favorite, took second place with 31%.

On the left, Gabriel Boric (35) from the Social Convergence Party won the left’s nomination with 60% of votes from his coalition, upsetting the Communist Party candidate Daniel Jadue. Mr Boric has served as a lawmaker since 2013 (re-elected in 2017). He is known for his role as a student leader who called for free higher education and for his participation in the political agreement that led to the referendum on the nation’s constitution—a divisive topic within the left.

The primaries, however, did not include an important section of Chile’s political field, as the centre-left coalition, Unin Constituyente, did not put forward candidates for the primaries and will instead make a direct nomination. Union Constituyente’s apparent frontrunner is Yasna Provoste (DC), currently president of the Senate. The deadline to register presidential candidates is August 23.

Sunday’s primaries were the first step in a long presidential race that will include a first-round election on November 21, and—if no candidate wins a majority outright —a runoff vote on December 19. The turnout of Sunday’s primary elections was around 20%—an increase compared to the primary elections of 2017 (13.6%). A total of 3 million people cast their votes, a surprise turnout over the expected 2 million that would have been considered a success by political experts.

BOTTOM LINE: Scotia's market view is that the results of these primaries are positive for Chilean asset prices.High voter turnout, the departure of the Communist Party contender, and a solid nomination from the right-wing coalition are enough ingredients to see material positive impacts on the Chilean peso (CLP) and the stock market.

Full note from Scotiabank Chilean Economic Team Contributor Anibal Alarcn here….

https://www.scotiaview.com/open/acad0e1b-3c9d-499f-9e8d-ece30d5f7535/acad0e1b-3c9d-499f-9e8d-ece30d5f7535.pdf