$'S WITHOUT A SHOVEL(NICE)Peter Hodson, Sprott Asset Management, recently wrote of Royalty Companies:
“Once deal is signed, they sit back and collect cash…”
Callinan Mines to split and become a Royalty Company with a significant kicker—the War Baby. Callinan has cash, royalty revenue and no debt.
!st quarter 2011 revenue $ 6,761,596.00 ( including 25% withheld) . Revenue projected to be $27,000,000.00 per year or $ .55 /share.
Royalty companies usually trade @ 10-15 x revenue. Callinan appears to be significantly undervalued .
www.callinan.com
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