The Reminder is making its archives back to 2003 available on our website. Please note that, due to technical limitations, archive articles are presented without the usual formatting.
Jonathon Naylor Editor Success at a Flin Flon mine has spelled another big pay day for a Vancouver-based company. Through a profit-sharing deal with Hudbay, Callinan Royalties Corp. recently received $4,001,295 based on the estimated first-quarter profits at 777. The payment represents 75 per cent of what Callinan is entitled to under its agreement with HudBay. Through the 1988 agreement, Callinan is entitled to a 6.66 per cent profits interest in 777. It also gets 25 cents for every tonne of ore milled from the site. Callinan has a profit-sharing deal for 777 as well as the adjacent, though much smaller, 777 North mine, scheduled to start production this year. Callinan also holds the 777 Deeps (War Baby) property and an associated royalty option on that property, which is located adjacent to 777 mine. Neither the TSX Venture Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of information supplied by Callinan.
