Mining Stock Daily&#x27;s Ian Wagner speaks with Marimaca Copper CEO Hayden Locke at Deutsche Goldmesse in Frankfurt about the company’s transition from developer to future copper producer in Chile. Locke outlines the permitted Marimaca Oxide Project, its manageable sub-billion-dollar capex, and plans for financing, early works, and a potential 2027 construction decision. He also highlights Pampa Medina, a sediment-hosted copper discovery with oxide growth potential and a possible tier-one sulfide system, supported by a major drill campaign and an experienced Chilean project team.

Live from the Deutsche Goldmesse: Marimaca Copper Targets 2027 Construction Decision as Pampa Medina Emerges as Major Chilean Copper Discovery

Mining Stock Daily

# Full Transcript

**Podcast:** Mining Stock Daily

## Participants

- **Ian Wagner** (Mining Stock Daily)
- **Hayden Locke** (Marimaca Copper)

## Transcript

Welcome back to Mining Stock Daily, Ian Wagner here live from Frankfurt at the Deutsche Goldmesse. We are joined now by one of the leading copper developers in South America. Marimaca Copper continues to grow, continues to expand. They trade on the TSX under the symbol MARI and host a market cap of roughly $1.07 billion Canadian. We are joined by Hayden Locke, CEO of Marimaca Copper. Hayden, welcome to Frankfurt and welcome to the podcast. Thanks very much for having me.

Yeah, appreciate it. Absolutely. So people probably know but anyone new just maybe give us kind of that overview of of Marimaca Copper and especially your projects down there in Chile. Marimaca is a really unique copper development story. We've got a project that is now permitted and we've delivered a DFS and confirmed that it's technically and economically a standout in the, you know, in the market and we're transitioning to construction in 2027 with a goal of becoming a, you know, a mid-tier copper producer, a small to mid-tier copper producer.

In the, in the short term. I don't think there's very many copper projects that are coming into production. Certainly none that we know of that can be financed without a major partner. So that's a really interesting, unique portion. But then I think what's really capturing the market's attention is this ongoing exploration potential. We've got arguably one of the best exploration geos in Chile leading our team and he's made multiple discoveries. But the most, the most recent one is we think potentially game changing.

Yeah. Okay. Well, we'll get to Pampa Medina here in a little bit. And we do want to talk about your team because you've assembled a bit of an all-star cast down there. But I think first just, you mentioned it at, at your mod or meridium oxide, you guys have the permits. There's some big numbers around those. You know, 1.65 billion pounds of copper, an extremely low strip ratio within $2.30 U.S. all in costs.

So, you know, thing could be, thing becomes a money printer at $6 copper, right? Big, big CapEx though, 587 U.S. My first real question is just how creative can you get around that financing? Are you looking at sort of multiple streams there in terms of, you know, debt, equity, off-takes? What do you think, how are you thinking about that?

I think the first point that I'd like to make is, it seems like a big capital cost number, but in the, in the world of copper projects, it's where an order of magnitude basically smaller than the vast majority of projects in, in the Chilean Cordillera. You know, I think I was in a, it was probably two years ago, I was in a, a rising copper investment forum where it had all of the developers that are hopefully going to build copper projects.

And the average capital cost two years ago was over $3 billion, the average. So I, ...

Live from the Deutsche Goldmesse: Marimaca Copper Targets 2027 Construction Decision as Pampa Medina Emerges as Major Chilean Copper Discovery

Transcript

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Live from the Deutsche Goldmesse: Marimaca Copper Targets 2027 Construction Decision as Pampa Medina Emerges as Major Chilean Copper Discovery

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.