Callinan Royalties Corporation CCNMF

RE:Consolidation With Altius a Responsible move by Management

[JimmyHaulinHogs]

Yes, this is a positive move for both entities - it makes sense to run both companies' operations under one set of management. No need for duplication and expense.

However I'm concerned that Altius doesn't have a dividend, which is what I'm sure many Callinan investors were primarily interested in. The initial cash we get up front with this deal helps, but that only covers 10 quarters of what we were in line to receive. Perhaps with enough soon-to-be former Callinan investors thrown into the mix, there will be enough pressure to get Altius to declare regular dividends and with that, it should also propel Altius' net worth forwards at that time. We should be thinking about what we can do to make that happen in a timely manner.

I'm confident that once the dust clears and the Altius investors see how much this deal adds to their quarterly bottom line, not to mention the $30 mil cash infusion, Altius should return to its most recent share offering price - $14. Then again, I wonder who else might be interested in bidding on Callinan now that it's moved to the TSX and settled the lawsuit.

Amusingly, after I had divested of all of my Sherritt interests because of its coal operations, I find myself back in possession of those same coal mine royalties with the conclusion of this deal.

<Insert obligatory Newfie joke>