“This is how Ivanhoe was made. Big geological systems and the drill bit.”
– Jay Chmelauskas, CEO, Camino Corporation.
Camino recently traded to $0.30 with the acquisition of a major porphyry system and copper resource Maria Cecilia with $10B fund Denham Capital.
The private placement that was just announced and upsized to $7.5 million is nicely priced at $0.17 with a half warrant at $0.25 for two years. This will be oversubscribed and will be gobbled up by institutional investors and select retail investors.
IWA has been waiting for this financing to happen and view this as a buy signal for investors. Drilling is going to begin this year and the advancement of these world class properties is about to begin. Jay is on the move investors, so it is time to pay attention.
IWA has conducted numerous calls with management, including executive chairman Keith Peck. Keith is a seasoned veteran and when he takes a big bite of something, that is another good sign. Keith Peck and Jay Chmelauskas have a tiger by the tail.
Denham Capital comes on the registry as a 19.9% strategic partner. The $7.5 million PP also sees several new resource-based institutions make an investment in Camino. Camino is becoming an institutional grade investment with a pro forma market cap of a very attractive $25 million. Right in line with the IWA goal of buying cheap.
They will be using the funds to drill for additional discoveries at Los Chapitos (IOCG oxides copper at surface) and it is key that they are very excited to drill the porphyry center at Maria Cecilia. They own 100% of all projects.
Near Los Chapitos, the Mina Justa mine is a 400m tonne 0.7% Cu project 100 km north of us that has been capitalized at $1.6B as Peru’s newest copper mine – target size for Los Chapitos.
Maria Cecilia will be the 3rd porphyry centre that they drill. In similar fashion, Oyu Tolgoi was discovered on the 4th porphyry center with the Hugo Dummet deposit.
“These are big systems and big targets, that can make big discoveries.” – IWA Team
For there latest press release Click Here:
IWA is a shareholder of Camino Corporation.
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