Stockhouse.com is showcasing successes at Callinex Mines.
As the investor website noted in an article this week, the Flin Flon-focused exploration company has maintained a consistent share price through industry turmoil – and raised $4.5 million amid challenging markets.
Max Porterfield, president and CEO of the Vancouver-based company, participated in a question-and-answer session with Stockhouse.com’s Chris Parry. Here is a sample of Porterfield’s comments:
On the most common misapprehension investors have about Callinex: “The most common misapprehension about Callinex is that we are early-stage. I think this relates to the label of ‘exploration’ stage; however, we don’t classify ourselves as fitting that mold. Our strategy is significantly de-risked from that of an exploration company as we already have several deposits within our district-scale land package and we are adjacent to established mining infrastructure. Given that this [Flin Flon] infrastructure is running out of feed, we believe there may be opportunities to avoid the capital expense associated to mine building and advanced exploration. This could result in less dilution to our shareholder base than might [be]associated with developers seeking project funding, let alone that of an ‘early-stage’ company.”
On Callinex’s present work: “Callinex is one of the very few juniors actively drilling and we are located next door to Hudbay’s 777 mine in Flin Flon, Manitoba, which has less than four years of reserves remaining. Brent Cook was recently featured on BNN and he noted [that only] five per cent of the 1,200 [junior companies in Canada] have the people, projects and capital to actively conduct exploration.”
On government barriers for miners and prospectors: “Callinex is fortunate to be working in the Flin Flon Greenstone Belt of Manitoba, where the government has cleared many barriers already. With over 85 years of continuous production over several cycles, the government understands the value of mineral production and exploration activities.”
On the next commodity to surge when resource prices improve: “We view copper as providing best returns within the next five years based on an impending supply-demand deficit. Compared to gold, where the majority of supply has already been mined, the copper market is almost entirely dependent on mine supply, which requires higher prices to meet demand growth.”
On what it will take to make mining “cool again” for investors: “Shareholder profits.”
