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 retreated today as energy producers fell with the price of oil, overshadowing gains in health-care and information-technology shares. The Standard & Poor’s/TSX Composite Index (TSE:OSPTX) skidded 0.1 percent to 15,190.44 at 12:30 p.m. in Toronto. Five shares declined for every three issues that advanced as six out of the ten main share groups were in the negative territory.
The US uranium producer, which reports in US currency, posted gross profit of US$3.65 million on revenue of $7.6 million for the three months to March 31 for a margin of 48%
Canadian shares retreated, led by the three major heavyweight segments, as investors continue to digest Friday’s U.S. employment data and as oil prices drop. The Standard & Poor’s/TSX Composite Index (TSE:OSPTX) fell 0.2 percent to 15,143 at 12:39 p.m. in Toronto. Two shares declined for every stock that advanced as seven out of ten share groups were in the negative territory.
On April 30, Largo said it signed a term sheet with lenders to defer its debt amortization schedule in a restructuring package that has also extended the maturities of its construction debt and export credit facilities for its Maracas Menchen Mine
Tsodilo wants to upgrade the geological model of the kimberlite pipe to optimize the outlay of the large diameter drill (LDD) holes for the forthcoming bulk sampling program.
The mine started production last August. The Toronto-based miner is expecting 2015 production to come in at 17 million pounds of vanadium pentoxide at very competitive costs.
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