Andina Copper secures $27.5 million financing to advance Piuquenes copper project in Argentina

Andina Copper has closed $27.5 million in concurrent financings to fund exploration at its Piuquenes project in San Juan, Argentina, and support work at Cobrasco in Colombia.

Andina Copper Corporation has closed $27.5 million in concurrent non-brokered financings, giving the Canadian explorer fresh capital to accelerate work across its South American portfolio, with Piuquenes in San Juan, Argentina, set to be one of the main beneficiaries. The company announced on March 12, 2026 that it completed a $12.2 million financing through the issue of 15.25 million common shares at $0.80 each, alongside a second $15.3 million placement through the issue of 19.125 million shares, also at $0.80 per share.

Andina said the net proceeds will be used to fund exploration at its Piuquenes and Cobrasco projects, as well as working capital and general corporate purposes. The company also disclosed that it paid finder’s fees totaling $1,062,320 to participating financial firms.

Piuquenes remains a central focus in San Juan

The financing is particularly relevant for Piuquenes, Andina’s copper-gold project in San Juan Province, where the company has been actively drilling and expanding targets. Andina’s February 10 exploration update said ongoing drilling at Piuquenes East continues to expand known porphyry copper-gold mineralization, while a new magnetotelluric anomaly at Piuquenes North has been defined and ranked as drill-ready.

The company’s project page says 7.1 km of diamond drilling has already been completed across eight holes at Piuquenes Central and Piuquenes East, confirming a gold-rich porphyry copper system at Central and a second porphyry system at East.

That gives the latest financing added weight: it is not simply balance-sheet support, but funding for a project already generating drill-backed evidence of scale and continuity. That is an inference based on the company’s stated use of proceeds and its recent exploration updates.

Fresh capital also supports broader South American growth

Beyond Argentina, part of the new funding will also support Cobrasco in Colombia, where Andina said in January it had launched a comprehensive 2026 exploration program to help delineate a major copper deposit.

Andina also granted 750,000 stock options to certain consultants, exercisable at $1.20 per share for five years. Following that grant, the company said it has 17,373,432 options outstanding, equivalent to about 6.5% of its outstanding common shares.

San Juan continues to attract copper exploration capital

The deal adds to the momentum around San Juan as one of Argentina’s most active copper exploration hubs. For Andina Copper, the new money strengthens its ability to keep drilling and refining targets at Piuquenes. For the market, it is another sign that investors are still willing to fund early-stage copper stories in the Andes when geology, location and drilling progress line up. That is an inference based on the completed financing, Andina’s active drill program and the project’s location in a major Andean porphyry belt.