- Marimaca has agreed to sell the Ivan SX-EW Processing Plant and associated mining claims to a Chilean mineral processing company for up to US$17 million
- The sale includes approximately 11,000 ha of mining claims
- The Ivan Plant is located approximately 20km south of the Marimaca Project
- Marimaca Copper is a copper exploration company
- Marimaca Copper Corp. (MARI) opened trading at C$4.29 per share
Marimaca (MARI) has agreed to sell the Ivan SX-EW Processing Plant and associated mining claims to a Chilean mineral processing company.
The total purchase price will include a number of transaction anniversaries and contingent payments for a total of up to US$17 million.
Hayden Locke, President and CEO of Marimaca Copper commented on the transaction.
“The sale of the Ivan Plant is in-line with our strategy of advancing and developing the Marimaca Project on a standalone basis. Since the company acquired the Ivan Plant in 2017, the Marimaca Project has continued to grow and evolve to a point whereby the Ivan Plant is no longer a core component of the Project’s optimal development path.”
He added,
“We are very pleased to conclude this transaction with 5Q. The Ivan SX-EW Plant is an excellent fit with 5Q, and the 5Q team has an exceptional track record of processing stockpiled oxide and mixed ores in Chile. We hope to see the Ivan Plant become a successful and core part of their business.”
The Ivan Plant is located approximately 20km south of the Marimaca Project. The sale includes approximately 11,000ha of mining claims held in Minera Rayrock Ltda associated with the historic Ivan Mine.
Marimaca Copper is a copper exploration company. The company’s flagship asset is the Marimaca Copper Project in Chile’s Antofagasta region.
Marimaca Copper Corp. (MARI) opened trading at C$4.29 per share.