GREY:CCNMF - Post by User
Post by
muffin17on Jul 10, 2012 9:38am
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Post# 20097547
Royalty Payments
Royalty Payments CAA is going to get these kind of payments for the next 9 years or so, which is the expected remaining life of the 777 mine. The big payday though will come when Callinan gets the audit completed and receives the royaltues which should have been paid prior to 2008. At $25m per year plus damages ,interest and penalties, CAA could stand to make 100m if they can prove the royalties should have started in just 2004. Meanwhile they are reviewing the Hudbay books back to 1997 I beleive. We are getting close to one year since Grant Thorton began the audit. Suspect HBM is dragging its feet on supplying the needed documents.
The big payday is coming and probably sooner than later. Holding strong!
Muff