Mayank Bansal, CFA
Mayank Bansal is a CFA Charterholder and heads the Equity Research team at Kapitales Research, with over 5 years of experience analysing global equity markets. He leads fundamental, data-driven research combining rigorous financial analysis with macro trends.
Marimaca Copper Advanced Pampa Medina Drilling as Strong Cash Position Supported Project Development
Highlights
Pampa Medina Drilling Extended High-Grade System
Marimaca Copper Corp. (ASX: MC2) announced on 8 September 2026 that further drilling at its Pampa Medina deposit in Chile’s Antofagasta Region had continued to demonstrate strong copper-silver mineralisation across the project’s central high-grade zone. Hole SPRD-15 had intersected 216 metres at 0.96% copper and 7.2 grams per tonne silver from 466 metres, including 62 metres at 2.20% copper and 21.5 grams per tonne silver from 602 metres.
Step-out drilling had also expanded the mineralised sedimentary horizon by approximately 300 metres to the south and west. SPRD-12 had returned 56 metres at 0.95% copper and 4.2 grams per tonne silver, while SPD-13 had encountered a broad 222-metre interval grading 0.50% copper.
Financial Position Supported Development
Marimaca’s interim financial statements, authorised on 13 August 2026, had shown cash and cash equivalents of US$140.0 million at 30 June 2026, compared with US$66.8 million at the end of 2025. Net working capital, excluding current lease liabilities, had stood at approximately US$150.9 million.
The company had recorded a six-month net loss of US$11.8 million, compared with US$6.2 million a year earlier. Financing activities had contributed US$96.5 million during the period, mainly following the February 2026 Canadian treasury offering and warrant exercises.
The broader February transaction had included an Australian secondary offering of AU$157 million, although Marimaca had received no proceeds from the secondary component.
Development Milestones Progressed
Earlier announcements on 2 April, 19 May and 8 June 2026 had highlighted widespread silver mineralisation, extensions to the Pampa Medina system and continued high-grade drilling results. Marimaca had also advanced critical permitting, engineering preparations and project financing activities for the Marimaca Oxide Deposit.
Outlook
Marimaca had planned to complete Pampa Medina’s maiden delineation drilling during 2026 while continuing step-out exploration. At the Marimaca Oxide Deposit, management had intended to progress remaining permits, engineering and financing work to maintain construction readiness and advance toward a Final Investment Decision.
Note- All data presented is based on information available at the time of writing.
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