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Callinan is a growing mineral royalty company based in Canada. The Company was established in 1927 and is one of Canada’s oldest publicly traded companies. As a result of being one of the original claim holders in the Flin Flon mining district in northern Manitoba, we own royalties on the 777 mine operated by HudBay Minerals Inc.(www.hudbayminerals.com) that produces significant quantities of copper, zinc, gold, and silver annually.
Hudbay Minerals is currently developing an additional mining operation it calls 777 North Mine, which is located approximately two kilometres north of the 777 Mine. Callinan’s royalties will also apply to this mine as it occurs within the royalty lands of Callinan.
In the most recent reporting periods, Callinan’s royalty revenues have been several million dollars per quarter. Callinan is prudently managing significant high free cash flow from its royalties to pursue new opportunities and expand its royalty portfolio by creating or acquiring mineral royalties.
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Callinan is a financially strong and debt-free company. It holds approximately $29 million in cash and a modest amount of selected equities. Free cash flow is expected to be high as ongoing capital expenses will remain modest but sufficient to fund growth.
Financial Highlights
2011 2010 2009 Operating Summary Revenue $ 29,839,219 $ 16,591,701 $ 12,835,880 Operating Income 24,404,944 10,968,932 6,134,043 Net Earnings 18,977,388 8,465,076 4,378,859 Net Earnings % 64% 51% 34% Financial Position Available cash $ 30,269,465 $ 13,483,189 $ 6,836,145 Total assets 68,860,612 39,794,467 27,517,167 Shareholders’ equity 59,885,873 34,788,861 24,700,246 Per Share Basic Average number of voting shares outstanding 46,935,233 45,336,795 44,032,578 Net income per share $ 0.40 $ 0.19 $ 0.10 Diluted Average number of shares outstanding 48,060,366 45,971,272 44,424,937 Net income per share $ 0.39 $ 0.18 $ 0.10 -
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