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. This area is referred to as the Marimaca District.

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Marimaca Copper Corp

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Post by Brecknockon Jul 04, 2023 8:58am

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Post# 35525510

MARI news - Mitsubishi Corp invest C20m at a premium ...

From the same contact.
Enjoy.
GLTA
B
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Hello,

Two weeks ago, Marimaca Copper announced that Mitsubishi Corporation had made a C20m equity investment, at a premium to the prevailing share price, to become a 5% shareholder. For the full announcement please Click Here.

This is obviously fantastic news. I just wished to expand to two main thoughts :

Incredible external stamp of approval - for the past 40 years, the Japanese trading houses have been one of the main providers of development capital for the Chilean copper industry. At the forefront of this long and successful interaction has been the Mitsubishi Corporation. It is often said that such groups move very very slowly ... one of the main reasons for this is that their due diligence process is second to none. It cannot be overestimated what a huge external stamp of approval this investment provides for both the Marimaca management team, and the Company's flagship Marimaca deposit. We now have one of the copper industry's premier investment groups as a new significant shareholder and development partner.

Why would Mitsubishi invest in Marimaca ? - I think this announcement has surprised some people, and to some degree that is understandable. Mitsubishi are investors and owners of some of the largest and most successful copper assets in the history of South American mining. As mentioned in the news release, they own stakes in Escondida (production +1,000,000 tonnes Cu pa), Los Pelambres (production 375,000 tonnes CuEq pa), Antamina (production 560,000 tonnes CuEq pa), Los Bronces (production 270,000 tonnes Cu pa), and Quellaveco (eventual production 300,000 tonnes Cu pa). So why would Mitsubishi be interested in an asset that will only produce 50-60,000 tonnes of copper per annum ? The answer I believe is two fold : 1. The Marimaca Oxide Deposit is a standout asset globally in its peer group - it has a low cost of capex, combined with a high economic return, and very rapid payback period. On top of this it offers very low carbon intensity copper units, and will be a producing mine in the very near future (by mining standards). 2. As previously discussed, I have no doubt if there were another group of Escondidas and Quellavecos out there for Mitsubishi to invest in, then this is where their interest would naturally be focused. But there is not. The development pipeline for new copper assets to be brought into production over the next couple of decades is seriously constrained. And it is precisely the supply side of the equation that I think makes this forward looking copper market so interesting.

Summary - Marimaca has attracted the highest quality new shareholder and development partner possible. This cannot help but further demonstrate to the market the Marimaca deposit's rare quality.