0.03 looking like a hot entryBids are now stacking up at 3 cents, more shares on the bid than the asks at 0.035. Looking like this is due for a trend reversal. Shorts have eased up and bagholders like myself are in at 5 to to 6.5 cents. I see a few others posting on social media taking advantage of entering at this cheap market cap. I wish I didn't chase a few weeks ago but I had the chance to average down. This is a 1-3 year hold for me, I want and I'm gonna get the 10x here.
Just wait til they start drilling the unexplored areas of Los Chapitos and Maria Ceclia, apparently they're in Peru looking for a strategic mining investor to jump on board. The goodies are in the ground here, they just need more discovery holes so they can estimate the copper tonnage that could be massive.
They are in a high Cu district just 100km south of billion dollar mine Mina Justa, who has 347 MT --- 0.71% Cu. There's many early similarties here on the zones Camino has on the same geographical belt as Mina Justa. Los Chaptios is promising here, they could have a medium to large size IOCG (iron oxide copper-gold) discovery up to 500 MT here.
Be early, be right, sit tight. Smart retail is here now, small instutions will come next, followed by large ones, and then finally...dumb retail. GLTA.
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What I'm posting below came straight from the CEO's mouth back in Feb 2021. Full interview is on GBR Global Business Reports - google Jay Chmelauskas GBR interview and get a better idea of the story that is unfolding here.
What potential do you see in the Los Chapitos deposit, and how easily could it be developed into a mine in the future?
"Los Chapitos is envisioned as a medium to large-size IOCG (iron oxide copper-gold) discovery. IOCG deposits exist up the coast of Chile and Peru and are typically not as large as major porphyry deposits, but tend to carry higher grade and other metal credits. At Los Chapitos, the intercepts have been copper with only trace amounts of silver. The 2020 drilling program added 2,358.1 meters and brings the overall meterage on the property to 21,519 meters. We intercepted copper mineralization in 8 of the 9 HQ diamond drill holes, with the results detailed in our news release dated January 19, 2021. Surface sample results from Los Chapitos field mapping covering new drill targets will be released in upcoming weeks of February. Our initial exploration target is to get to a minimum of 20 to 30 million metric tons (mt) of resource. At that size, we believe that the CapEx to develop a copper mine is possible to finance as a junior company. However, the upside potential for these IOCG systems is up to 500 million mt, with the best comparison being Mina Justa in Peru, which is about a 400 million mt IOCG deposit and is located about 100km north of Los Chapitos."
Do you have a final message about the restart of Camino Minerals
"We re-capitalized Camino to restart exploration at our Los Chapitos copper discovery and to develop a platform to build a copper company. We have identified up to four areas of copper, including copper/gold mineralization at Los Chapitos, which is a large land package of 220km2 that we will continue to explore through 2021. As well as developing the Los Chapitos project, we are assessing other business development opportunities to grow the company. Our second copper project, Plata Dorada, is a high-grade copper and silver project located 158 km east of Cuzco. We have a track record of identifying early-stage projects to form the basis of successful, long term operating mining and chemical businesses, and we are looking to repeat this success in the copper sector at Camino."