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
Today, the mining company presented a request for Chapter 11 bankruptcy protection in an effort to restructure liabilities totaling over US$1.7 billion.
NGO appeals to Finnish Supreme Administrative Court to delay Mawson Resources’ updated exploration permit
The NFA Court endorsed the permit granted to Mawson, which was fully backed by all environmental authorities, to allow deeper drilling at the highly prospective Palokas gold project, which enjoys strong support from the local Ylitornio and Lapland community.
Shareholders of both Energy Fuels and Uranerz approved the transaction at their respective meetings on June 18, 2015, and the deal closed later that same day after the US Nuclear Regulatory Commission granted its consent to the transaction.
On Monday, Molycorp said it would use a 30-day grace period on a US$3.36 million semi-annual interest payment related to 3.25 percent senior unsecured convertible notes that are due in 2016
The successful effort to restructure debt and increase available resources add to the encouraging performance at the Mine, which Largo is aiming to develop to phase 1 capacity by the third quarter.
The Carmacks project is located in the Yukon, and mineral resources contained in the proposed mining area are 11.98 million tonnes of measured and indicated resources grading 1.07% copper, 0.456 grams per tonne (g/t) gold and 4.58 g/t silver
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