Marimaca Copper Corp. (ASX: MC2), a copper exploration and development company focused on its Marimaca Copper Project in Chile, has announced the closing of its previously announced brokered placement, raising A$80 million. The placement, conducted in Australia and other select jurisdictions excluding Canada, involved the issue of 8,247,423 Chess Depositary Interests (CDIs) at a price of A$9.70 each. Allotment of the CDIs is scheduled for September 12, 2025 (AEST), pending final approval from the Toronto Stock Exchange (TSX).
The net proceeds from the placement are designated for several key initiatives. A portion will be allocated to exploration activities at the Pampa Medina Project and the Marimaca sulphide target. Furthermore, funds will support detailed design and engineering work, along with other project-related activities, at the Marimaca Oxide Deposit (MOD). The remaining capital will be used for general corporate purposes, ensuring the company’s continued operational efficiency.
Euroz Hartleys Limited, Beacon Securities Limited, and Macquarie Capital (Australia) Limited served as joint lead managers for the placement. Canaccord Genuity (Australia) Limited acted as a co-manager. Existing insiders of the company, Assore International Holdings Limited and Ithaki Ltd, participated in the placement for 1,376,289 CDIs and 1,226,805 CDIs, respectively.
The Marimaca Copper Project hosts the Marimaca Oxide Deposit (the “MOD”), an IOCG-type copper deposit. The company is currently progressing the Marimaca Copper Project through the Definitive Feasibility Study led by Ausenco Chile Ltda. In parallel, the company is exploring its extensive land package in the Antofagasta region, including the >15,000ha wholly-owned Sierra de Medina property block, located 25km from the MOD.
