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 Callinan Royalties Corp. continues to collect millions through its profit-sharing agreement relative to the 777 mine. For the quarter ended Dec. 31, 2011, the Vancouver-based company received interim payments of $5,075,951 from Hudbay. The payments included $4,970,814 from a 6.66 per cent net profits interest royalty, and $105,137 from a payment of 25 cents/ton of ore produced for the quarter. The net profits interest payment represents 75 per cent of an estimate by Hudbay. The remaining 25 per cent is paid annually, in mid-July, 130 business days after the financial year end of Hudbay, as per the agreement between the two companies. The quarterly payments are due to Callinan's royalty interests on lands that include the 777 mine. Callinan is a mineral royalty company. It describes its principle business activities as focusing on acquiring and creating a portfolio of mineral royalties while managing its royalty interests and investments.
