In a report released on July 2, Rene Cartier from BMO Capital maintained a Buy rating on Marimaca Copper, with a price target of C$9.50.
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Rene Cartier’s rating is based on several promising developments at Marimaca Copper’s Pampa Medina deposit. The recent drill results have revealed thick, ultra high-grade copper zones, which are located over 600 meters apart within the same geological horizon. This discovery suggests significant potential for resource expansion and development, which is further supported by the addition of a second drill rig for an extensive follow-up program.
Moreover, the strategic location of Pampa Medina offers infrastructure and permitting advantages, being close to powerlines, water pipelines, and major ports. The ongoing progress in permitting and the near-completion of the Marimaca oxide definitive feasibility study add to the positive outlook. Additionally, the potential for sulphide mineralization presents a meaningful upside, enhancing the long-term prospects of the project. These factors collectively underpin Cartier’s Buy rating for Marimaca Copper.
Cartier covers the Basic Materials sector, focusing on stocks such as Triple Flag Precious Metals, Osisko Gold Royalties, and Taseko Mines. According to TipRanks, Cartier has an average return of 22.9% and a 62.89% success rate on recommended stocks.