Marimaca Copper Closes AU$80 Million Placement

MT Newswires Live

09/12

Marimaca Copper (ASX:MC2) said it closed a placement after issuing 8.2 million Chess depositary interests at AU$9.70 apiece for gross proceeds of around AU$80 million, according to a Friday Australian bourse filing.

The proceeds will be used for exploration at the Pampa Medina project and Marimaca sulfide target in Chile, as well as for the detailed design and engineering and project-related workstreams at the Marimaca oxide deposit, and for general corporate purposes.

Insiders of the firm, Assore International Holdings and Ithaki, participated in the placement for around 1.4 million Chess depositary interests and 1.2 Chess depositary interests, respectively.

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