SO-UNDERVALUED !!!!!!!!CALLINAN offers EARNINGS & Excellent EXPLORATION RESULTS
EARNINGS:
PRIOR TO THE SPLIT, INCLUDING EXPLORATION EXPENSES $ .19 /SHARE
FOR THE SIX MONTH PERIOD ENDING Dec. 31, 2010
Callinan earns $ 6.44 million in 1st quarter 2011. Because of high commodity prices, the 2nd quarter looks bigger.
AFTER THE PROPOSED SPLIT: NO EXPLORATION EXPENSES
With minimal administration costs, royalty revenue = earnings. Assuming that the 2nd quarter revenue is as large as the first quarter, the EARNINGS should be approx. $.25 /share for the first six months 2011. Since Royalty companies trade @ 10 to 15 x earnings, the share price should be higher.
( Working capital: $ 23,757,695 “No debt”)
EXPLORATION RESULTS:
GOSSAN HILL , MANITOBA: 14.77 METERS OF 5.94 G/TON AU plus 22 G/T AG
Previous report: 5.70 METERS OF 9.73 G/TON AU plus 6.91 G/T AG
GOLD PRICE: $ 1440 /OZ. SILVER PRICE: $ 34 / OZ.
Drilling continues…….!
Details: www.callinan.com
Symbol: CAA: TSX Venture Closing price March 3, 2011 $ 2.80