ENP Newswire -
Release date- 30052014 -
The unaudited financial statements and Management Discussion and Analysis are available on Callinan's website (www.callinan.com) and on SEDAR (www.sedar.com). All dollar figures are in Canadian (CAD) currency.
Net income for the nine month period ended
The following are key highlights from the third quarter:
Cash on hand at
Quarterly Royalty Payments
Callinan received interim quarterly royalty payments totaling
The Net Profits Interest payment represents 75% of an estimate by
The board of directors of
It is anticipated that future quarterly dividends will be payable approximately 15 days following each fiscal quarter. The declaration, timing, and payment of future dividends will largely depend on the Company's financial results as well as other factors. Dividends paid by
Direct Registration System
Callinan is pleased to announce that it has elected to participate in the Direct Registration System ('DRS'). The DRS program allows Callinan shareholders to keep their securities without having a physical share certificate issued as evidence of ownership.
Instead, the shares are held in the shareholder name and registered electronically in the Company's records, which are maintained by Callinan's transfer agent, Canadian Stock Transfer ('CST Trust Company'). Current shareholders are not affected by the Company's participation in the DRS program which is simply a step towards facilitating current or potential new shareholders in their ability to hold shares of the Company electronically.
If you are a registered holder of the Company's common shares and wish to convert physical securities to DRS, go to (www.canstockta.com) for additional information. CST
Callinan is a profitable royalty company with a continuing dividend policy and evaluation of numerous royalty opportunities is ongoing. Callinan's quarterly royalty income from the 777 mines is lower compared to the same period last year. Metal prices and challenges experienced at the 777 mine in 2013 continued in early 2014. Please refer to Hudbay's public filings for more information.
The Corporation currently has two producing royalties. Callinan holds a 6% net profits interest royalty and a production royalty CAD
Callinan is a dividend paying Tier 1 company listed on the
For more information, please visit www.callinan.com
Tel: +1 709 535 3433
Tel: +1 604 424 8639
Cautionary Statement on Forward-Looking Information
Certain of the information presented in this News Release may constitute 'forward-looking statements' or 'forward-looking information' within the meaning of Canadian securities legislation (together referred to as 'forward-looking statements').
The forward-looking statements are subject to risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including any delays in the receipt of consents or approvals. Although
There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this News Release and in any document referred to in this News Release.
Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and
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