🕐17.11.09 - 12:24 Uhr
Callinan Receives Net Profits Interest Payment from HudBay Minerals
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News Release
Monday, November 16, 2009
Callinan Receives Net Profits Interest Payment from HudBay Minerals
VANCOUVER -- Callinan Mines has received an interim payment of $2,744,822
from HudBay Minerals Inc.
This payment represents 75% of an estimate of
6.66% of the net profits from the 777 Mine in Flin Flon, Manitoba for the
quarter ended September 30th, 2009.
Callinan Mines receives payments from their net profits interest in the 777
Mine in Flin Flon, Manitoba quarterly.
Operated by HudBay Minerals, the mine
is expected to produce until 2019.
On Behalf of the Board of Directors,
Mike Muzylowski
Mike Muzylowski
President and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Statements contained in this press release may constitute forward-looking
statements under Canadian securities legislation which are not historical
facts and are made pursuant to the safe harbour provisions under United
States securities laws Such forward-looking statements are based upon the
Companys reasonable expectations and business plan at the date hereof and
are subject to change depending on economic, political and competitive
circumstances and contingencies.
Readers are cautioned that such
forward-looking statements involve known and unknown risks, uncertainties
and other factors that may cause a change in such assumptions and the actual
outcomes and estimates may be materially different from those estimated or
anticipated future results, achievements or positions expressed or implied
by those forward-looking statements.
The Company disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information, future
events or otherwise.
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