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 rose as positive economic data overpowered concerns about increasing tensions in Ukraine and weakness in the financial sector. The benchmark Standard & Poor’s/TSX Composite Index (TSE:OSPTX) rose 0.3 percent to 15,604.56 at 11:59 a.m. in Toronto. More than two shares advanced for every stock that declined, with eight out of 10 major industries up.
NioCorp Developments (CVE:NB) (OTCMKTS:NIOBF) (FRA:BR3), a niobium explorer, rose to the highest in more than three months after receiving additional assays from the ongoing drilling and advancement operations at Elk Creek, Nebraska. Shares advanced to 78 Canadian cents, the highest intraday price since May 6, before trading at 74 Canadian cents, up 5.7 percent, at 1:12 p.m. in Toronto.
Energizer Resources (TSE:EGZ) (OTCMKTS:ENZR) rose in morning trades after Stormcrow Capital Ltd. initiated coverage on the the owner of the Madagascar's Molo Graphite project with a positive recommendation. Shares were up 3.5 percent at 15 Canadian cents at 9:41 a.m. in Toronto, extending this year's gains to 15 percent.
Falco Resources (CVE:FPC) says it has found six gold zones with "significant grade and continuity" located next to its prized Horne 5 deposit, adding to the five already found and showing the potential to increase resources at its property.
Alderon Iron Ore's (TSE:ADV)(NYSE MKT:AXX) shares dropped in early trading Thursday after the company said it has terminated its agreement with BNP Paribas for the senior debt financing facility for the construction of its Kami project, opting instead to go another way.
Fortune Minerals raising $36 mln to acquire remaining interest in Revenue silver mine on better terms
Fortune Minerals (TSE:FT) (OTCQX: FTMDF) is raising $36 million to finance the acquisition of the remaining interest in its Revenue silver mine in southwest Colorado, the company said Wednesday.
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