Callinan Mines is a Canadian base metals exploration company dedicated to continuing a tradition of successful exploration that began in 1927. The company derives significant, and increasing, revenue from an historic royalty interest in two producing mines in Flin Flon, Manitoba. This income allows the company to keep dilution low as they develop high potential exploration properties in Manitoba and British Columbia.
Together with improving global economic conditions exploration endeavours are gathering pace. It always ushers in considerable confidence in the underlying project as well as the management as such efforts indicate the management’s desire to add shareholder value.
Recent Sector News
Canadian shares were steady as gains among healthcare companies offset weakness in commodity producers. The benchmark Standard & Poor’s/TSX Composite Index (TSE:OSPTX) added 0.1 percent to 15,251.19 at 12:40 p.m. in Toronto.
Paladin Energy (TSE:PDN) said that a thickener failure at its Langer Heinrich mine will result in up to 100,000 pounds of lost uranium production for this quarter, bringing yet another supply disruption to the uranium space and hence a positive impact on prices.
NioCorp Developments (CVE:NB)(OTCQX:NIOBF) has completed a $2.19 million private placement financing, satisfying the main condition of its major move to the Toronto Stock Exchange.
Largo Resources (CVE:LGO) has received an indicative term sheet from its lenders to push out the repayment schedule for its loans, bringing the miner one step closer to effectively removing any near-term tightness on its balance sheet.
Dundee Capital Markets reiterated its sell rating on Copper Mountain Mining (TSE:CUM) on Monday, citing an earnings miss in the company's latest quarter and an expensive stock price.
NioCorp's (CVE:NB) (OTCQX:NIOBF) shares rose after the niobium developer updated its mineral resource estimate for its flagship project in Nebraska to include titanium and scandium.
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