Butcher left the Highlands club to take charge of Hibernian earlier this month.
Former manager John Robertson has admitted an interest in returning to the club he left 10 years ago, while Kenny Shiels and Chris Sutton have also been linked with the Scottish Premiership high-fliers.
Cameron has been impressed by the number of applicants for the post and hopes to make an appointment before next weekend's visit of Morton in the Scottish Cup.
Youth coaches Duncan Shearer and Scott Kellacher will remain in charge of the club for Saturday's match with St Johnstone.
"The board has, after careful consideration of a huge inflow of applications, decided on a short list for the managerial vacancy," said Cameron.
"We're very grateful to all who applied for showing such interest.
"We are now proceeding to interview the candidates. It is our hope that we will make the appointment before the Scottish Cup tie with Morton on Saturday week."
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