Callinan Royalties Releases Q4 and Year End Financial Statements

TSXV: CAA

VANCOUVER, Sept. 26, 2013 /CNW/ - Callinan Royalties Corporation ('Callinan', the 'Company') (TSXV: CAA) announces its financial results for the fourth fiscal quarter and for the fiscal year ended June 30, 2013. The audited financial statements and Management Discussion and Analysis are available on Callinan's website (www.callinan.com) and on SEDAR (www.sedar.com).

The Company's Net income for the year ended June 30, 2013 is $8,851,153 compared to $20,108,190 for fiscal 2012.  Income per share for basic and fully diluted is $0.18 compared to $0.41 for basic and $0.40 for fully diluted in fiscal 2012.

A summary of the financial information is included in the following table:

	3 months June 30, 2013	3 months June 30, 2012	12 months June 30, 2013	12 months June 30, 2012
Income	$3.51 million	$5.16 million	$16.80 million	$23.83 million
Net Income	$1.62 million	$2.70 million	$8.85 million	$20.11 million
Net Income / Share Fully Diluted	$0.03	$0.05	$0.18	$0.40
Cash Flow from Operation	$0.96 million	$1.62 million	$9.19 million	$15.24 million

The following are key highlights for the fiscal year:

• The annual royalty income for the year ended June 30, 2013 was $15.7 million compared to $23.5 million last year. The royalty income was impacted by lower commodity prices over the period as well as the lower grades and higher mining and processing costs over the period.
• $3.9 million was paid out in dividends to shareholders.
• Cash on hand at June 30, 2013 was $24,883,295 (compared to $29,464,334 million at June 30, 2012).
• Five transactions were completed and two exploration alliances were created.
• The 2012-2013 Annual Information Form has been prepared and is available for viewing on SEDAR and the Callinan website.

Roland Butler, CEO commented "Though annual royalty income is lower due to several coinciding factors, Callinan remains a profitable, dividend-paying royalty company with no debt and a healthy treasury.  The Company is in strong financial condition as it pursues attractive investment opportunities that have become available in the current market."

On Behalf of the Board of Directors,

Roland Butler

Roland Butler, CEO

About Callinan Royalties

Callinan Royalties is a Canadian company that creates and acquires mineral royalties.  The company uses its royalty income to provide alternative financing options to mineral exploration and development companies with attractive projects.  Callinan's strategy is to create shareholder value over the long term by generating a portfolio of profitable mineral royalties.

The Corporation currently has two producing royalties. Callinan holds a 6⅔% net profits interest royalty and a $0.25 per ton production royalty on lands that include the 777 mine and 777 North mine owned by Hudbay Minerals Inc. located in Flin Flon, Manitoba, Canada.  Callinan also holds the 777 Deeps (War Baby) property and an associated royalty option on the property, which is located adjacent to the 777 mine.

Callinan is a dividend paying Tier 1 company listed on the TSX Venture Exchange under the symbol CAA.  The Corporation has a strong financial position with no debt, approximately $27 million in cash and approximately 49.4 million shares outstanding.

Cautionary Statement on Forward-Looking Information

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.   Certain of the information presented in this News Release may constitute "forward-looking statements" or "forward-looking information" within the meaning of Canadian securities legislation (together referred to as "forward-looking statements"). The forward-looking statements are subject to risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including any delays in the receipt of consents or approvals. Although Callinan Royalties has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this News Release and in any document referred to in this News Release. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and Callinan Royalties undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.

 

SOURCE: Callinan Royalties Corporation

please visit www.callinan.com or contact:

Roland Butler, CEO
Callinan Royalties Corporation
[phone]
[email protected]

Tamara Edwards, CFO
Callinan Royalties Corporation
[phone]
[email protected]

Corporate Office:
1110 - 555 West Hastings Street
Vancouver, BC
Canada, V6B 4N4