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Article: Business Watch
- Article from:
- Winnipeg Free Press
- Article date:
- July 18, 2009
- Author:
CopyrightCopyright F.P. Canadian Newspapers Limited Partnership Jul 18, 2009. Provided by ProQuest LLC. (Hide copyright information)
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Callinan looks to Manitoba
VANCOUVER -- Callinan Mines Ltd., a Vancouver-based miner, has struck an option deal to acquire 51 mineral claims in the Pine Bay area of northern Manitoba.
Callinan said Friday it had negotiated a deal with a numbered Manitoba company and M'Ore Exploration Services Ltd. for an option to buy 100 per cent of the Pine Bay claims and other assets. The acquired properties are located in the Pine Bay area, 15 kilometres east of Flin Flon.
Under the deal, Callinan will pay $200,000 in cash and 50,000 shares of the company and a further $200,000 and 375,000 shares over 36 months following regulatory approval.
Long strike forecast
SUDBURY, Ont. -- The international ...