Camino Minerals Corp. ("Camino") is a discovery-oriented mineral exploration company. The Company is exploring for high grade copper and precious metal projects, primarily in Peru, but also in Canada, United States, and Mexico.
Camino was formed in connection with Goldcorp Inc.'s C$300-million acquisition of Canplats Resources Corp. ("Canplats"). The transaction closed February 4, 2010. Canplats shareholders received, for each Canplats common share, C$4.60 in cash and 1 share of Camino, which listed April 22, 2010.
Canplats discovered the Camino Rojo gold project, located in Mexico and 50-km to south of Goldcorp's Penasquito, in 2007. In less than one year's time, Canplats had outlined 3.44 million ounces gold and 60.7 million ounces silver in measured and indicated resources with additional inferred resources of 0.55 million ounces gold and 7.6 million ounces silver. In late 2009, Canplats was the subject of a bidding war between Goldcorp and Minera Penmont (a company jointly owned by Fresnillo and Newmont), which Goldcorp subsequently won in a deal worth more than C$300-million.