Original Crux Invest Article
- Camino Minerals is acquiring a fully permitted copper asset in Chile called Puquios through a 50/50 partnership with Nittetsu Mining.
- Camino is also exploring their Los Chapitos copper project in Peru where drilling will resume in January. Nittetsu has invested $7M to earn a 35% stake so far.
- The Puquios project is purchase ready and can be in production within 2-3 years. Debt financing is expected to take 6-12 months followed by a 24-30 month build period.
- Puquios is an SX-EW project that could initially mine an enriched chalcocite-oxide resource with a 10-14 year mine life at 9,000 tpa copper production based on historical DFS work.
- CEO Jay Chmelauskas is confident in the industry and Camino’s strategy, taking a 10% stake in their current financing round. He believes their share price is undervalued with significant upside.
Watch the full interview with Jay Chmelauskas:
