Callinan Royalties Corporation CCNMF

RE: btshooters brief outline

[Gryphon1734]

btshooter: I believe that there is often more to these kinds of deals than meets the eye.....beyond the news releases. I'm sure that you're aware that Mike Muzylowski used to be a director of Bell. I'm pretty certain that Callinan and Bell have an excellent relationship (Mike and Brian Leeners especially). Is it not a possiblity that they agreed that the amounts owed by Bell on Fox River be paid in Bell shares because Bell had recently purchased the Granduc mine and was focusing its resources on that asset? Mike would obviously have been familiar with the Granduc mine (a former major copper mine in northern BC) and was shrewd (not nice) enough to recognize that Bell paper was about to be worth a lot more than $.20. This mutual benefit could well have been the reason for the discount on the amount owed as well. Any way that you look at it though, the result now is that Callinan has a million shares of Bell worth over $700,000 rather than $250,000 in spent cash....and Bell has a stong long term shareholder-----smart business on the part of both companies in my opinion. Too bad more juniors don't work together this way. Also, speaking of looking a little beyond the news releases, you might want to do a little homework on how this deal actually happened and in the process you'll probably get a little insight into the excellent relationship between Callinan and Bell (Mike and Brian). You'll need to go all the way back to a meeting in Winnipeg in November of 2002 between Bell and Bruce Dunlop (when Mike was a director of Bell and Brian was the president of Bell). Let's hope that Fox River turns out to be anything close to what Mike and Brian think that it is because this will make a great book someday! Cheers Gryphon