Marimaca Copper Corp. (ASX: MC2), a copper exploration and development company focused on its Marimaca Copper Project in Chile, has announced an A$80 million placement. The company is focused on its 100%-owned flagship Marimaca Copper Project and surrounding exploration properties located in Antofagasta Region, Chile. The brokered placement will involve approximately 8.25 million Chess Depositary Interests (CDIs) at a price of A$9.70 per CDI, conducted on a best efforts basis in Australia and select other jurisdictions outside of Australia, excluding Canada.
The net proceeds from the placement will be allocated to several key areas. A significant portion will support detailed design and engineering work, as well as project-related activities at the Marimaca Oxide Deposit (MOD). Additionally, funds will be directed towards exploration efforts at the Pampa Medina Project and the Marimaca sulphide target. The remaining proceeds will be used for general corporate purposes.
The CDIs will be issued under an ASX Listing Rule 7.1 waiver granted to Marimaca. Trading on the ASX was halted on Friday, September 5, 2025, and is scheduled to resume on Monday, September 8, 2025. Placement settlement is expected on Thursday, September 11, 2025, with the allotment of Placement CDIs to follow on Friday, September 12, 2025. Macquarie Capital (Australia) Limited, Euroz Hartleys Limited, and Beacon Securities Limited are acting as joint lead managers for the placement.
President and CEO of Marimaca Copper, Hayden Locke, expressed enthusiasm for the strong investor support received. He stated that the funding will enable the company to expedite the detailed design and engineering phase at the MOD and expand exploration programs at Pampa Medina and the Marimaca sulphides exploration target. Locke highlighted the Definitive Feasibility Study’s demonstration of a robust starting point for the company’s regional development goals.
