Camino Minerals (TSE:COR) has released an update.
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Camino Minerals Corporation, in a joint venture with Nittetsu Mining Co., Ltd., has secured exclusive rights to negotiate the acquisition of the Puquios Project, a ready-to-build copper mine in Chile. They have made a CAD$100,000 payment for this exclusivity and plan to acquire the mine for a combination of cash, shares, and contingent payments totaling CAD$45M along with a net smelter return royalty. The deal, which includes a 50:50 copper off-take agreement, is considered a reverse takeover under TSX Venture Exchange policies.
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