TSX-listed copper development company Marimaca has concluded a financing deal led by South Africa-based Assore International Holdings (AHI), which will see more than $C30 million in fresh capital injected into the business through equity, the (almost) exit of private equity partner Tembo Capital Mining (from 11% to 1%), and the emergence of AHI as a strategic partner with 15%.
The funds will bolster the cash position of Marimaca, which is in the final throes of a definitive feasibility study for its namesake copper development in Chile. A 2020 PEA based on half the current resource figure suggested an NPV of US$524 million and an IRR of 33.5% using a copper price of US$3.15 per pound – some 40% lower than at time of recording.
ABOUT THIS COMPANY
Marimaca Copper
HEAD OFFICE:
- Suite 2400, 745 Thurlow Street Vancouver, BC V6E 0C5
- Telephone: +56 2 2431 7608
- Email: jgutierrez@marimaca.com
- Web: https://marimaca.com
DIRECTORS:
-
Hayden Locke
-
Michael Haworth
-
Tim Petterson
-
Clive Newall
-
Colin Kinley
-
Alan Stephens
-
Giancarlo Bruno Lagomarsino
QUOTED SHARES ON ISSUE (as of 2 April 2024):
- 93,241,923 million
MARKET CAPITALISATION:
- C$288 million
MAJOR SHAREHOLDERS:
Greenstone 27.4%
Tembo 10.9%
Mitsubishi Corp. 5.0%
