Callinan Royalties Corporation CCNMF

RE: Prodigals,....."It is very"......"Typical"..

[justwin]

Interesting post you have. It was my understanding that Mike's relationship with HBM probably affected the deal that was done at the time and there is probably some of the idea of BIG HBM taking small CAA to the woodshed on this. The negotiating down of the original 35% to 6.66% is part of this. As for brains, Mike and the boys were smart enough to take the dead Kamloops copper mine (forgot the name,duhh)and redrill it to come up with (an old estimate) $9B in copper reserves. If CAA is going to hold the last HBM auditor liable for signing off,its no wonder they won't put a signature on HBM's books. the auditor bailed. "general damages for breach of contract and breach of fiduciary duty and aggravated and punitive damages, interest and costs." This last line from N Miner should make life interesting for everyone. Big firms like Deloite and Touche (more than a 2 man operation) have their back room MBA finacial wizzard spend a lot of time on 'managing' the numbers. They get paid handsomely at making it look right for their masters. They will bring their big guns to to wrangle every copper (penny) in their favour. They shuck the nuances and jive the numbers so well that they usually have the federal government in baffledum over how much they owe in tax....which is typically very, very little. What you say should make HBM very nervous about a court ordered audit exposing all those little nooks and crannies that have hidden and I would suggest any auditor that has signed off on any books over the period of involvement with CAA.