LAST BUT NOT LEAST — Arequipa plans funding

With fundraising plans in place, Arequipa Resources (VSE) expects to boost its interest in Peruvian-based Acuarios Minera y Exploradora to 50% from 20%.

Arequipa acquired the initial 20% interest last year for $1.3 million and can buy a further 30% by paying $2.7 million by April 30.

The company recently completed a private placement of 800,000 special warrants at $1.60 each, netting $1.2 million. Each special warrant is convertible, at no extra cost, into one common share plus a warrant good for another share at $1.60 for a period of one year.

Arequipa will file a preliminary prospectus to qualify both the conversion of the special warrants and an upcoming public offering to raise an additional $2 million.

Acuarios owns several properties in Peru, with an emphasis on porphyry copper deposits, particularly those amenable to heap leaching.