Marimaca Copper Corp. (ASX: MARI), also listed on the Toronto Stock Exchange under the symbol ‘MARI’, today released its unaudited condensed interim consolidated financial statements for the three and six months ended June 30, 2026, highlighting a strengthened financial position. Marimaca Copper Corp. is an exploration and development company focused on base metal projects in Chile, with its principal asset being the Marimaca Copper Project in the Antofagasta Region. The company reported net working capital, excluding current lease liabilities, including cash, of US$150.9 million as at June 30, 2026. This marks a substantial increase from US$62.7 million reported at December 31, 2025, which management believes is sufficient to fund operations for at least the next twelve months.
The significant bolster to the company’s financial liquidity stems primarily from a global treasury and secondary offering completed on February 26, 2026. This offering generated aggregate gross proceeds of C$409 million (equivalent to US$298.5 million), with the Canadian treasury portion directly contributing C$136.5 million (US$99.7 million) in gross proceeds to the company. Net proceeds to Marimaca Copper from this segment amounted to C$129.2 million (US$94.4 million). Furthermore, an institutional private placement in June 2025 provided gross proceeds of C$24.4 million (US$17.9 million), and the exercise of 500,000 warrants in January 2026 by Ithaki generated C$2.93 million (US$2.15 million) in gross proceeds.
Regarding its projects, costs related to the Marimaca Project continue to be classified as exploration and evaluation assets, with no impairment indicators identified as of June 30, 2026. The company also holds option agreements for the Pampa Medina and Madrugador Projects in the Sierra de Medina District, with total consideration for each at US$12 million payable over 60 months, subject to a 1.5% Net Smelter Royalty. Marimaca Copper anticipates commencing the formal process to request VAT refunds in late 2026, with recovery expected in the first half of 2027, contingent on meeting eligibility criteria. The company’s ability to continue as a going concern beyond the next 12 months relies on securing further financing.
