Callinan Royalties Corporation CCNMF

finally books open!!!!!

[bobcat16]

   PROGRESS TOWARDS RESOLUTION OF OUTSTANDING ISSUES WITH HUDBAY

When the new President of HudBay stated on BNN that he favoured “transparency and playing by the rules”, I was sceptical in view of the ongoing,  protracted litigation by Callinan against HudBay, based upon precisely those issues.  I have  modified my reaction.  I now believe that he was sending a clear message to the directors and management of HudBay, that the previous corporate culture had to be brought up to a level of compliance with  the new high standards of good governance and transparency.  It appears that HudBay and Callinan have agreed to enter into a three month ‘stand down agreement’ on the litigation, and that HudBay has agreed to OPEN ‘ALL’ OF ITS BOOKS  for Callinan’s forensic audit.  This could lead to a settlement of this costly and time consuming litigation,  thus eliminating a hurdle to an agreement between the two companies for the mining of Callinan’s War Baby property. The War Baby appears to be a huge extension of the lucrative 777 ore body.  In my opinion, a settlement and an agreement between the two mining companies on the War Baby would be in the interest of all concerned shareholders. The new President of HudBay should be commended for his initiative.