GREY:CCNMF - Post by User
Comment by
clestoron May 05, 2010 3:34pm
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Post# 17066456
RE: RE: CAA Notes
RE: RE: CAA NotesThe $2.9 mm check CAA received in Feb was ONLY for the qtr ending 12/31/09.
https://www.callinan.com/s/NewsReleases.asp?ReportID=385368&_Type=News-Releases&_Title=Callinan-Receives-Net-Profits-Interest-Payment-from-HudBay-Minerals
The next check will be for the qtr ending Mar 31, 2010 and CAA should receive it sometime in early/mid May. Hudbay pays 75% upfront, and the remaining 25% comes later.
The 777 mine is the bulk of Hudbay's earnings and HBM is obligated to pay 6.66% of earnings from the mine to CAA. If you look at what HBM has earned and compare to what they have paid to CAA, then CAA's litigation against Hudbay seems to have a lot of merit.