Camino and Nittetsu Extend by One Week Exclusive Rights to Negotiate Copper Mine Acquisition in Chile
Camino Minerals (TSXV:COR, OTC PINK:CAMZF) and Nittetsu Mining Co., have extended their exclusive negotiation period for the acquisition of the Puquios Project, a construction-ready copper mine in Chile. The exclusivity period, initially set to end on August 31, 2024, has been extended by one week to September 7, 2024. This extension allows both parties additional time to finalize negotiations and documentation for the Proposed Acquisition. The Puquios Project represents a significant opportunity in the copper mining sector, with potential implications for Camino's market position and future operations in Chile.
Camino Minerals (TSXV:COR, OTC PINK:CAMZF) e Nittetsu Mining Co. hanno prolungato il loro periodo di negoziazione esclusiva per l'acquisizione del Puquios Project, una miniera di rame pronta per la costruzione in Cile. Il periodo di esclusività, inizialmente previsto per concludersi il 31 agosto 2024, è stato esteso di una settimana fino al 7 settembre 2024. Questa estensione consente a entrambe le parti ulteriore tempo per finalizzare le trattative e la documentazione per l'acquisizione proposta. Il Puquios Project rappresenta un'opportunità significativa nel settore minerario del rame, con potenziali implicazioni per la posizione di mercato di Camino e le future operazioni in Cile.
Camino Minerals (TSXV:COR, OTC PINK:CAMZF) y Nittetsu Mining Co. han ampliado su período de negociación exclusiva para la adquisición del Proyecto Puquios, una mina de cobre lista para la construcción en Chile. El período de exclusividad, que inicialmente debía terminar el 31 de agosto de 2024, ha sido extendido por una semana hasta el 7 de septiembre de 2024. Esta extensión proporciona a ambas partes tiempo adicional para finalizar las negociaciones y la documentación para la adquisición propuesta. El Proyecto Puquios representa una oportunidad significativa en el sector de minería de cobre, con posibles implicaciones para la posición de mercado de Camino y sus operaciones futuras en Chile.
카미노 미네랄스 (TSXV:COR, OTC PINK:CAMZF)와 닛텐쓰 광업은 푸키오스 프로젝트의 인수를 위한 독점 협상 기간을 연장했습니다. 이 프로젝트는 칠레에 있는 건설 준비 완료된 구리 광산입니다. 독점 기간은 원래 2024년 8월 31일에 종료될 예정이었으나 2024년 9월 7일까지 일주일 연장되었습니다. 이번 연장은 양측이 제안된 인수에 대한 협상 및 문서를 마무리할 수 있는 추가 시간을 제공합니다. 푸키오스 프로젝트는 구리 채굴 부문에서 중요한 기회를 나타내며, 카미노의 시장 위치 및 향후 칠레 내 운영에 대한 잠재적 의미를 지니고 있습니다.
Camino Minerals (TSXV:COR, OTC PINK:CAMZF) et Nittetsu Mining Co. ont étendu leur période de négociation exclusive pour l'acquisition du Projet Puquios, une mine de cuivre prête à construire au Chili. La période d'exclusivité, initialement prévue pour se terminer le 31 août 2024, a été prolongée d'une semaine jusqu'au 7 septembre 2024. Cette extension permet aux deux parties un temps supplémentaire pour finaliser les négociations et la documentation pour l'acquisition proposée. Le Projet Puquios représente une opportunité significative dans le secteur minier du cuivre, avec des implications potentielles pour la position de marché de Camino et ses opérations futures au Chili.
Camino Minerals (TSXV:COR, OTC PINK:CAMZF) und Nittetsu Mining Co. haben ihren exklusiven Verhandlungszeitraum verlängert für den Erwerb des Puquios-Projekts, einer baureifen Kupfermine in Chile. Der Exklusivitätszeitraum, der ursprünglich am 31. August 2024 enden sollte, wurde um eine Woche bis zum 7. September 2024 verlängert. Diese Verlängerung ermöglicht beiden Parteien zusätzlich Zeit, um die Verhandlungen und Dokumentationen für die vorgeschlagene Übernahme abzuschließen. Das Puquios-Projekt stellt eine signifikante Gelegenheit im Kupferbergbau dar, mit potenziellen Auswirkungen auf Caminos Marktposition und zukünftige Aktivitäten in Chile.
- Extension of exclusivity period indicates ongoing interest and progress in negotiations
- Potential acquisition of a construction-ready copper mine could expand Camino's asset portfolio
- Strategic move into Chilean copper mining sector may enhance Camino's market position
- Delay in finalizing the acquisition could indicate complexities or challenges in the negotiation process
- Extended negotiations may result in additional costs or resource allocation for Camino
VANCOUVER, BC / ACCESSWIRE / August 30, 2024 / Camino Minerals Corporation (TSXV:COR)(OTC PINK:CAMZF)(WKN:A116E1) (" Camino " or the " Company ") and Nittetsu Mining Co., Ltd. (" Nittetsu ") announce a one-week extension to their exclusive rights to finalize negotiations and documentation for the acquisition of the Puquios Project (the " Proposed Acquisition "), a construction-ready copper mine located in Chile (see news release dated June 27, 2024 ). The exclusivity period has been extended to September 7, 2024.
About Nittetsu Mining CO., Ltd.:
Nittetsu is a Japanese corporation listed on the Tokyo Stock Exchange with an 85-year history as a mining and trading company. Nittetsu is the operator of the Atacama Kozan mine located in the prolific Candelaria-Punta del Cobre copper district which is known to host iron-oxide-copper-gold type ore deposits. In addition, Nittetsu has made a decision to start construction of its
About Camino Minerals Corporation:
Camino is a discovery and development stage copper exploration company. Camino is focused on advancing its high-grade Los Chapitos copper project located in Peru through to resource delineation and to add new discoveries. Camino has also permitted the Maria Cecilia copper porphyry project for an exploration drilling program which is currently underway. In addition, Camino has increased its land position at its copper and silver Plata Dorada project. Camino seeks to acquire a portfolio of advanced copper assets that have the potential to deliver copper into an electrifying, copper intensive global economy. For more information, please refer to Camino's website at www.caminocorp.com.
ON BEHALF OF THE BOARD | For further information, please contact: |
/S/ "Jay Chmelauskas" | Camino Investor Relations |
President and CEO | |
| Tel: (604) 493-2058 |
Completion of the Proposed Acquisition is subject to a number of conditions, including but not limited to, TSXV acceptance and if applicable, disinterested shareholder approval. Where applicable, the Proposed Acquisition cannot close until the required shareholder approval is obtained. There can be no assurance that the Proposed Acquisition will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Proposed Acquisition, any information released or received with respect to the Proposed Acquisition may not be accurate or complete and should not be relied upon. Trading in the securities of Camino should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the Proposed Acquisition and has neither approved nor disapproved the contents of this news release.
Cautionary Note Regarding Forward-Looking Statements: Certain disclosures in this release constitute forward-looking information. In making the forward-looking disclosures in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company. Forward-looking information in the release includes statements with respect to the entering into of the definitive agreements in respect of the Proposed Acquisition and acquisition of the Puquios Project. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release is subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information. Such risk factors include, among others, risk that the Proposed Acquisition will not be completed as anticipated, or at all; risk that the Company will not be able to complete its due diligence and negotiate definitive documentation by September 7, 2024 in respect of the Proposed Acquisition; risk that the Company will not receive requisite regulatory and shareholder approvals or satisfy the customary conditions in respect of the Proposed Acquisition as anticipated, or at all; risk that the Company and Nittetsu will not be able to establish a 50:50 joint venture in respect of the Puquios Project and the sharing of copper off-take for the Puquios Project as anticipated, or at all; risk that the consideration payable by Nittetsu and Camino, respectively, in respect of the Proposed Acquisition will not be as anticipated; risk that the anticipated synergies between Nittetsu and Camino in respect of the Puquios Project will not be realized as contemplated, or at all; risk that actual results of the Company's exploration activities may be different than those expected by management; risk that the Company may be unable to obtain or will experience delays in obtaining any required authorizations and approvals; and risks related to the state of equity and commodity markets. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: Camino Minerals Corp
View the original press release on accesswire.com
FAQ
What is the new deadline for Camino Minerals (CAMZF) to finalize the Puquios Project acquisition?
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