Local News

Callinan receives latest payment

              Callinan Resources has received interim quarterly payments totaling just over 3.9 million dollars from Hudbay.  The payments include just over 3.8 million from the six and two thirds net profits interest royalty and just over 114 thousand from the production royalty of 25 cents per ton of ore for the quarter ended December 31st.

              The net profits interest payment represents 75 percent of an estimate by Hudbay with the remaining 25 percent paid annually in mid-July.

              The quarterly payments are due to Callinan’s royalty interests on lands that include the Triple Seven Mine in Flin Flon.

              Callinan uses its royalty income to provide alternative financing options to mineral exploration and development companies with attractive projects
 

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