Bullish indicating open at $55-$60, IPO prices at $37
VANCOUVER - Callinex Mines Inc. (TSX-V:CNX; OTCQX:CLLXF) announced Wednesday the appointment of Peter Dimmell to its Board of Directors as lead director on the technical committee. The company, currently valued at $4.29 billion, has shown strong financial performance with a 35.63% revenue growth in the last twelve months. According to InvestingPro analysis, the stock appears to be trading below its Fair Value.
Dimmell, a Professional Geologist with over 50 years of experience, was part of the original discovery team for the Point Leamington volcanogenic massive sulphide (VMS) deposit in Newfoundland that Callinex is currently advancing. He also contributed to exploration and production at the Rambler Mine and the discovery of the Duck Pond mine in Newfoundland. With a healthy gross profit margin of 69.35% and positive earnings expectations, InvestingPro data suggests the company is well-positioned to advance its projects.
"We are pleased to welcome Mr. Dimmell to our team as we advance the Pt. Leamington Deposit in Newfoundland," said Max Porterfield, President & CEO of Callinex Mines in the press release.
Dimmell brings significant industry credentials, including past presidency of the Prospectors and Developers Association of Canada (PDAC), chairmanship of Mining Industry NL, and current board membership with the Canadian Mining Hall of Fame.
The Point Leamington Project is located in central Newfoundland, approximately 37km from Grand Falls-Windsor. According to the company, the deposit contains an Indicated Mineral Resource of 5.0 Mt grading 2.5 g/t AuEq for 402 koz AuEq and additional Inferred Resources.
Callinex also announced the acquisition of an adjacent mineral license consisting of 5 claims from RDF Consulting Ltd. in exchange for 50,000 common shares and a 1% net smelter return royalty that can be repurchased for C$1,000,000. The transaction remains subject to TSX Venture Exchange approval.
The company’s portfolio includes the Rainbow deposit at its Pine Bay Project in the Flin Flon Mining District and the Nash Creek Project in New Brunswick’s Bathurst Mining District. For detailed analysis of Callinex’s project valuations and 8 additional exclusive ProTips, visit InvestingPro, where you can access comprehensive Pro Research Reports covering over 1,400 US equities.
In other recent news, CNX Resources Corp reported a significant earnings beat for the second quarter of 2025. The company announced an earnings per share (EPS) of $2.53, which was well above the forecasted $0.43. Additionally, CNX Resources’ revenue reached $485.03 million, surpassing the anticipated $462.08 million. These figures indicate a strong financial performance for the quarter. The results have garnered attention from investors and analysts alike. While the stock’s pre-market movement was positive, it is the earnings and revenue figures that stand out. These recent developments highlight CNX Resources’ ability to exceed market expectations.
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