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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

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  • allaboutvalueX
Comment by allaboutvalueon Jun 05, 2024 10:26am
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Post# 36073089

RE:$87million raised since 3 September 2020

RE:$87million raised since 3 September 2020I understand the frustration. No arguments here about shareholders being long overdue to see some material progress and value creation. Many shareholders are frustrated that the current share price is in the same range of where it was 4 years ago.

I see more than hot air showing for a large portion of the money raised since the PEA. In 2020 there was something like $10 million of debt and something like $10 million of land option payments due that have been paid now. The project has been derisked since then (larger resource, met work) and there was still something like $16 million of cash on hand on the Q1 financials. All Canadian dollars.

These numbers don't add to $87 million, but there is something to show for the $ raised compared to if the company was in the same position it was in back in 2020. It does make me look at other earlier stage developers negatively with the understanding that there will be a ton of money and time needed to get from a discovery to being a shovel ready project. I don't think the general market fully comprehends this at the point of discovery, maybe it explains the lassonde curve but it makes me shy away from some of the other discovery stories.
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