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VANCOUVER - Camino Minerals Corporation (TSXV:COR)(OTC PINK:CAMZF) has filed a pre-feasibility study technical report for the Puquios copper project in Chile, as it moves forward with the acquisition of Cuprum Resources Chile SpA, the project’s owner. The report, which was filed today, highlights the project’s low capital intensity and a strong production profile, with an after-tax net present value (NPV) of US$118 million and an internal rate of return (IRR) of 23.4%.
The Puquios project, which has received the primary environmental permit required to build and operate a mine, is anticipated to become one of Camino’s principal material properties following the acquisition’s expected completion in the first week of April 2025. The project’s all-in sustaining costs are projected at US$2.00 per pound over its 14.2-year life span, with total copper production estimated at 223 million pounds.
President and CEO of Camino, Jay Chmelauskas, stated that the project is ready to proceed with the final sectoral permits and engineering studies post-acquisition. He emphasized the cost-effectiveness of heap leach copper production, which is common in Northern Chile, and expressed confidence in the project’s robust economics under current copper market conditions.
In addition to the technical report, Camino has also filed an amendment to its management information circular to provide shareholders with additional financial information regarding Cuprum. The amendment revises certain financial details that were originally included in the circular for the company’s special shareholder meeting scheduled for March 31, 2025.
The board of directors of Camino has unanimously recommended the approval of the proposed transaction, highlighting the acquisition of the construction-ready Puquios project as a strategic addition to the company’s portfolio of properties and a significant step toward becoming a new copper producer.
The technical report for the Puquios project, prepared in accordance with National Instrument 43-101, is available on SEDAR+ under the company’s issuer profile. This report includes detailed assumptions, qualifications, and exclusions, which the company encourages readers to review.
Camino Minerals Corporation is a copper exploration company focused on developing and advancing its copper assets, including the Los Chapitos project in Peru and the newly acquired Puquios project in Chile. This report is based on a press release statement from Camino Minerals Corporation.
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