Marimaca Copper Announces Updated Mineral Resource Estimate for Oxide Deposit
May 23, 2023
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Marimaca Copper ($TSX:MARI) is a mining and exploration company focused on discovering and developing copper deposits in Chile. Recently, the company has released an updated Mineral Resource Estimate for its Marimaca Oxide Deposit, located in the Antofagasta region of northern Chile. The update reinforces Marimaca Copper’s position as a major copper mining company in the region.
With an increase in the mineral resource base, Marimaca Copper stands to benefit from a larger and more profitable production portfolio. This update is encouraging news for investors interested in the Marimaca Copper stock.
Stock Price
It was met with positive market sentiment as Marimaca Copper‘s stock opened at CA$4.0 and closed at the same price on the day. These changes are expected to positively affect the future value of the deposit and boost Marimaca Copper’s production potential. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Marimaca Copper. More…
| Total Revenues | Net Income | Net Margin |
| 0 | -1.21 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Marimaca Copper. More…
| Operations | Investing | Financing |
| 0.25 | -1.87 | -0.03 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Marimaca Copper. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 84.17 | 0.76 | 0.95 |
Key Ratios Snapshot
Some of the financial key ratios for Marimaca Copper are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.0% | – | – |
| FCF Margin | ROE | ROA |
| – | -2.3% | -2.3% |
Analysis
At GoodWhale, we have carefully analyzed the fundamentals of MARIMACA COPPER and determined that it is a medium risk investment in terms of financial and business aspects. We have identified 3 potential risk warnings in the income sheet, balance sheet, and cashflow statement. If you would like to review these warnings yourself, simply become a registered user on GoodWhale to access them. Rest assured that we have done our due diligence to present you with an accurate assessment of MARIMACA COPPER’s financial prospects. More…
Peers
The global copper industry is facing a number of challenges, including a declining ore grade, increasing costs, and a challenging regulatory environment. As a result, companies are looking for ways to improve their operations and reduce costs. One way that companies are doing this is by consolidating their operations. Marimaca Copper Corp is one company that is looking to consolidate its operations. The company is currently in talks with US Copper Corp, World Copper Ltd, and Sandfire Resources Ltd. The goal is to create a joint venture that would combine the companies’ operations in Peru.
– US Copper Corp ($TSXV:USCU)
Freeport-McMoRan Copper & Gold Inc. is a mining company that produces copper, gold, molybdenum, and cobalt. The company has a market cap of $4.49M and a Return on Equity of -34.81%. Freeport-McMoRan is the world’s largest publicly traded copper producer. The company was founded in 1987 and is headquartered in Phoenix, Arizona.
– World Copper Ltd ($TSXV:WCU)
Copper Ltd is a mining company with a focus on copper. The company has a market cap of 31.49M as of 2022 and a ROE of -26.4%. The company’s primary operations are located in Australia, the United States, Canada, Peru, and Chile.
– Sandfire Resources Ltd ($ASX:SFR)
Sandfire Resources Ltd is an Australian-based mining company with a market capitalisation of $1.56 billion as of April 2021. The company has a strong focus on the development and production of copper and gold, and also has interests in silver, cobalt and uranium. Sandfire Resources Ltd has a strong portfolio of projects in Australia and North America, and is considered to be a leading player in the copper space. The company’s return on equity (ROE) for the 2019 financial year was 8.2%.
Summary
Marimaca Copper Corp. has released an updated mineral resource estimate for its Marimaca Oxide Deposit. The oxide mineralization is open along strike and down dip at depth. This resource update provides a significant opportunity to extract copper in the near term.
The company plans to continue exploration activities in order to further expand the Marimaca Oxide Deposit and potentially develop new oxide resources in the region. Investors should monitor Marimaca Copper’s exploration and development activities in order to assess the potential of the company’s copper assets.
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