Funding And InvestmentThe proceeds provide Marimaca with funding for its next phase of development, including early site works and long lead items, as well as exploration.
Investor SupportIn a follow-up release, Marimaca noted the placement was strongly supported by both new institutional and sophisticated investors and existing shareholders, with demand for the placement significantly exceeding the targeted quantum.
Strategic PartnershipsMarimaca indicated it is exploring strategic alternatives to the development of the project, including engagement with strategic mining companies and copper producers.