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Overview

Marimaca Copper (TSX: MARI)  is a copper exploration company focused on exploring and developing new sources of copper to supply an increasing global demand for this essential commodity. With a lack of new copper exploration discoveries globally, the Marimaca resource is a high-profile development project, due to its location in the coastal belt at low elevation, close to Antofagasta and Mejillones

Its flagship project is the Chilean asset Marimaca in Chile’s Antofagasta Region, which has the potential to become one of the most significant copper‐oxide discoveries in recent years. Not only is the size of the resource potentially substantial, but the location is world class with nearby existing infrastructure all in place including roads, powerlines, ports, a sulphuric acid plant, and a skilled workforce.

Whilst the copper price has been volatile in recent times, the longer term supply/ demand for the commodity suggests that the price is due to rise, with a dearth in high quality copper projects globally.

www.coromining.com

Directors

  • Michael Haworth (Chairman) – Founder Greenstone Resources, a mining  PE fund and MARI’s largest shareholder
  • Luis Albano Tondo (CEO) – 30yrs experience in South American mining
  • Leonardo Araya Muñoz (CFO) – 30yrs accounting in South America across various industries
  • Petra Decher (Ind Dir) – Experienced financier in Canadian natural resources
  • Tim Petterson (Ind Dir) – Represent Tembo Capital, MARI’s second largest shareholder
  • NED’s: Colin Kinley & Alan Stephens

 

Peer Group

Antofagasta (LSE: ANTO)
Operates finance and travel price comparison websites

Phoenix Copper (LSE: PXC)
Noth American base metals exploration

Major Shareholders

Greenstone Resources LLP – 24.9%
Tembo Capital – 16.5%

Macro Indicators

SP Angel Note (May 2020)

The International Copper Study Group (ICSG) has cut its 2020 global mined copper forecast by 950,000 tonnes – equivalent to nearly 4 million tonnes of copper concentrates output, as a result of Covid-19. The ICSG now expects a 3% yoy decline in world mined copper output this year… with output in major copper producing countries varying on a case by case basis.

 

Media Coverage

Mining Journal (May 2020): “Coro becomes Marimaca Copper in ‘transformational year.”
“Coro Mining has changed its name to Marimaca Copper to align with its flagship development project in Chile as part of an ongoing corporate restructure following the appointment earlier this year of Michael Haworth, co-founder of the company’s largest shareholder Greenstone Resources (24.9%), as executive chairman.”

Broker Coverage

 

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