Coro discovered the Marimaca, which is fast becoming recognised as one of the most significant copper discoveries in Chile in recent years as it represents a new type of deposit which challenges accepted exploration wisdom and promises to open up new frontiers for discoveries elsewhere in the country. Marimaca is hosted by intrusive rocks while the numerous manto deposits in the same region are hosted by volcanics.
The growing Marimaca resource is a high-profile development project as it is situated in the coastal belt at low elevation close to Antofagasta and Mejillones. This prime location could enable its future development at a relatively modest capital investment. Marimaca would benefit from nearby existing infrastructure including roads, powerlines, ports, a sulphuric acid plant, a skilled workforce and seawater.
Luis Tondo, CEO
Luis Tondo joined Coro as CEO in June 2017. An experienced mining engineer with 30 years of experience in Latin American, notably at mid-tier copper and gold producers, he is well suited to developing value at the Company’s Marimaca project. Prior to joining Coro, Luis served at Grupo Minero Las Cenizas Kinross and Rio Tinto. Luis is a Fellow of the Australasian Institute of Mining and Metallurgy and a Qualified Person for the purposes of NI 43-101. He holds a Bachelor’s degree in Mining Engineering from the Universidade Federal do Rio Grande do Sul; a Master’s in Engineering from the University of Queensland; and an MBA from the Fundação Dom Cabral.
What is your rationale for attending 121 Mining Investment?
To broaden market knowledge of the Marimaca project as one of the best near-term new copper mine opportunities in a tier one jurisdiction
What recent news would you like to highlight to investors attending?
Significant recent increase in resources and progress on advancing a PEA
What are your key goals for the next 3, 6 and 12 months?
Complete a project PEA
Complete project definition, establish wider exploration potential
Move to a decision to commence financing and construction of a new copper mine in Chile
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
The macro environment is the main challenge however, being located in a tier one jurisdiction and with capex and operating costs anticiapted to be below national averages, the project is robust.
In a sentence, what do you think makes your company such a compelling investment?
The Marimaca project is a unique opportunity to invest in a near-term copper oxide operation with above average grades located 25 kilomteres from infrastructure and ports in Chile.