Marimaca Copper (ASX:MC2) filed a shelf prospectus to raise up to CA$500 million during a 25-month period via the issue of common shares, warrants to purchase common shares, units comprised of any combination of one or more securities, and subscription receipts, according to a Tuesday Australian bourse filing.

One or more securityholders of the firm may also offer and sell securities under the prospectus.

It will use the net proceeds from the sale of the securities to advance the Marimaca copper project in Chile, including funding the pre-construction decision engineering workstreams as well as early site works, totaling $60 million. It may also use the proceeds for other activities related to the development of the Sierra de Medina project, also in Chile.