Marimaca Copper Corp. (MC2), an exploration and development company focused on base metal projects in Chile, has released its condensed interim consolidated financial statements for the three and six months ended June 30, 2025. The financial statements, which are unaudited and expressed in thousands of U.S. dollars, include the statements of financial position, loss and comprehensive loss, shareholders’ equity, and cash flows. The company’s primary asset is the Marimaca Copper Project, located in the Antofagasta Region of northern Chile.
As of June 30, 2025, Marimaca Copper reported working capital of $25.6 million, compared to $22.7 million as of December 31, 2024. The company believes its current working capital is sufficient to meet its property option payments, obligations, and operational funding needs for at least the next twelve months. Marimaca Copper acknowledged that its ability to continue as a going concern and advance the Marimaca Project beyond the next 12 months will depend on securing necessary financing.
In June 2025, Marimaca Copper completed a non-brokered private placement, raising gross proceeds of C$24.4 million ($17.9 million) and net proceeds of C$23.9 million ($17.4 million). The private placement involved the issuance of 5,311,416 shares at a price of C$4.60 per unit. Assore International Holdings Limited and Ithaki Limited each subscribed for 2,250,000 common shares, with an additional institutional investor subscribing for the remaining 811,416 shares. During the reported period, the company awarded 0.4 million Restricted Share Units (RSUs) to management and directors.
The company reported a net receivable of $4.6 million as of June 30, 2025, related to the sale of Minera Rayrock Limitada. Management has estimated the recoverable amount of the account receivable using probability-weighted scenarios, considering the liquidation process and valuation of underlying assets. Total currency exposure from foreign currencies was equivalent to $19.9 million as of June 30, 2025. The condensed interim consolidated financial statements were authorized for issuance by the Board of Directors on August 12, 2025.
