Camino Minerals Stock Price, News & Analysis

Camino Minerals (CAMZF) has initiated its exploration campaign at the Los Chapitos Copper Project in Peru, fully funded through a CAD$1.5 million earn-in payment from exploration partner Nittetsu Mining Co.,

The drilling campaign comprises 11 drill holes totaling approximately 1,200 meters, focusing on copper oxide zones and potential sulphide mineralization along the La Estancia fault, which extends over 12km. Geochemical sampling has revealed copper oxide grades up to 3.8% Cu and 4.0 ppm Ag.

Additionally, the company has granted 675,000 incentive stock options to directors, officers, and employees, exercisable at $0.36 until January 20, 2030. The company is also issuing 147,059 common shares as finder's fees related to the Nittetsu Mining earn-in agreement.

Camino Minerals (CAMZF) has announced the implementation of a share consolidation effective January 20, 2025. The consolidation will be executed on a 6:1 basis, reducing the outstanding common shares from 209,251,638 to approximately 34,875,273.

The consolidation will maintain proportional shareholder ownership, and no fractional shares will be issued. Fractional shares less than one-half will be rounded down and cancelled, while those equal to or greater than one-half will be rounded up to one whole share. The company's exercise or conversion price and number of shares issuable under outstanding convertible securities will be adjusted proportionally.

Registered shareholders holding physical certificates will receive a letter of transmittal to exchange their certificates, while shareholders holding shares through brokers won't need to complete this process. The new CUSIP number will be 138050307 and the new ISIN number will be CA1380503070.

Camino Minerals (TSXV:COR)(OTC:CAMZF) has restructured its previously announced C$2 million non-brokered private placement and proposed a 6:1 share consolidation. The restructured financing will issue up to 9,523,809 post-consolidation shares at C$0.21 per share. Denham Capital will participate with $500,000, while CEO Jay Chmelauskas plans to invest C$200,000.

The proceeds will fund corporate working capital, legal expenses, engineering studies, and administrative expenses. Additionally, the company plans to start an exploration drilling campaign at its Los Chapitos copper property in Peru, supported by C$1.5M in previous funding from Nittetsu Mining Co.,

The share consolidation will reduce outstanding shares from 209,251,638 to 34,875,273‬. The consolidation aims to align share pricing with TSXV policies regarding minimum issue prices for financing.

Camino Minerals (CAMZF) has received CAD$1.5 million from Nittetsu Mining for its upcoming drilling campaign at the Los Chapitos Copper Project in Peru, scheduled to begin January 2025. This payment represents the fourth earn-in installment under their 2023 agreement, where Nittetsu can acquire a 35% project interest by investing CAD$10 million over three years. To date, Nittetsu has invested CAD$7 million.

The drilling campaign will focus on the Pampero target within the La Estancia area, where recent sampling revealed copper values up to 3.8% Cu and 4.00 ppm Ag. The planned 1,200m drilling program aims to identify near-surface copper oxide mineralization along the La Estancia fault, which extends over a 12-kilometer corridor.

Camino Minerals (TSXV:COR)(OTC:CAMZF) announces a non-brokered private placement to raise up to CAD$2.0 million through the issuance of 57,142,857 common shares at CAD$0.035 per share. Denham Capital has committed CAD$500,000 as lead order, with additional commitments of CAD$200,000 from institutional investors and CAD$300,000 from other investors. The company anticipates a strategic investment of up to CAD$1,000,000 from a prospective investor. The proceeds will fund corporate working capital, legal expenses, engineering studies, and expenses related to the Puquios copper project acquisition in Chile.

Camino Minerals has completed its summer drilling campaign at the Maria Cecilia porphyry project in Peru. The campaign included drilling one diamond drillhole (MC24-001) which revealed 234 meters of continuous low-grade mineralization with grades up to 0.16% copper, 0.053ppm gold, 5.1ppm silver, and 819ppm molybdenum. The project is part of a larger 5km mineralized system that includes Toropunto and Emmanuel resources. Surface sampling yielded 95 chip samples, with 35 samples showing greater than 0.1% Cu and grades up to 0.32% Cu. The drilling confirmed mineral zonation and multiple altered intrusions, though the company indicates that the main source of copper mineralization has not yet been reached.

Camino Minerals (TSXV:COR)(OTC PINK:CAMZF) has announced significant progress in its Summer 2024 mapping and exploration campaign at the Los Chapitos copper project in Peru. The company, in collaboration with Nittetsu Mining CO., , has identified five new exploration targets along the La Estancia fault, which extends for approximately 12 km through Camino's claims.

Key highlights include:

• Discovery of additional copper zones at Pilar Maria along the Diva Trend
• Notable mineralization at multiple targets, with copper grades reaching up to 7.3% Cu and 54 ppm Ag at Pilar Maria
• Drilling expected to begin at prioritized targets as early as December 2024
• Ongoing exploration targeting structural controls across the 12 km La Estancia trend

The new targets at Los Chapitos show similarities to manto-type copper deposits in northern Chile and demonstrate potential for copper-silver manto and IOCG type deposits. This exploration complements Camino's recent agreement to purchase the Puquios construction-ready copper mine in Chile.

Camino Minerals (TSXV:COR)(OTC PINK:CAMZF) has entered into a definitive share purchase agreement with Nittetsu Mining Co., and Denham Capital-advised vendors to jointly acquire the Puquios Copper Project in Chile. The transaction, valued at CAD $45.5 million plus contingent payments and an NSR royalty, will be structured as a 50/50 joint venture between Camino and Nittetsu. Key highlights include:

1. Initial CAD $20.5 million payment (CAD $10 million cash from Nittetsu, CAD $10.5 million in Camino shares)
2. Five contingent payments totaling CAD $25 million
3. 1.25% NSR royalty on all sales
4. Camino to undertake a CAD $2 million private placement
5. Transaction classified as a non-arm's length Reverse Takeover

The acquisition aims to transform Camino into a mid-tier copper producer, complementing its existing exploration projects in Peru. The deal is subject to shareholder and regulatory approvals, with closing expected by December 15, 2024.

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.