Topic: How To Invest

Dear Pat: What is your opinion of Callinan Mines Ltd (CAA) on the TSX?

Article Excerpt

Callinan Mines, $0.70, symbol CAA on Toronto, (Shares outstanding: 43.9 million shares; Market cap: $30.8 million) is a Vancouver-based junior mining company with royalty interests and exploration properties in Manitoba, Saskatchewan and British Columbia. The company holds a $0.25 per ton royalty interest and a 6.67% net profits interest in the Callinan and 777 nickel mines operated by HudBay Minerals in Flin Flon, Manitoba. Callinan also has a 100% interest in the War Baby claim, an exploration property next to the 777 mine. Callinan exploration properties include Sneath Lake, which consists of 2,527 acres in central Manitoba. The property is located near HudBay Minerals’ new copper-zinc discovery at Lalore Lake. Callinan’s Pine and Phillips Lake properties are located in Manitoba’s Thompson Nickel Belt. Fox River is located on an extension of the Thompson Nickel Belt formation. Callinan’s Coles Creek copper/molybdenum property covers 31,668 acres in B.C.’s Omineca Mountains. The Echo Lake claims are located in eastern Saskatchewan (copper, silver, gold and zinc)…