Now if they were to pass some of that NPI on to investors via a dividend each quarter CAA would suddenly change state.... not an explorer but a royalty company paying a dividend.

They should withhold no tax and let the investor / shareholder bear that burden as many would pay no tax on a divy anyway.... shares held within RRSP's or investors with minimal income.

Lets say they divied out a 5 cent divy every quarter.... That would be $2,500,000..... leaving a balance of $1,500,000 every quarter to explore with.

HBM has just revised the reserves and has confirmed they will be paying a divy via the production of the 777 and Calinan mine for the next couple decades!

If CAA takes this role I can see the market cap moving into the 500 million range over the near term, say 2 or 3 quarters of successfull divy payment. Makes CAA a $10.00 stock!

Compare this to TNX which is a royalty company that pays no dividend and trades at a healthy $500 million market cap.

CAA has every bit as much exploration potential here in Canada and paying a divy would set CAA into a league of it's own.

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Goldcorp only pays a quarterly divy of 1.5 cents/ month and has 709 million shares and trades at over 40 bucks!

Goldcorp to pay 1.5-U.S.-cent dividend

2008-04-07 11:20 ET - News Release

Mr. Jeff Wilhoit reports

GOLDCORP DECLARES FOURTH MONTHLY DIVIDEND PAYMENT FOR 2008

Goldcorp Inc. has declared its fourth monthly dividend payment for 2008 of 1.5 cents per share. Shareholders of record at the close of business on Thursday, April 17, 2008, will be entitled to receive payment of this dividend on Friday, April 25, 2008. Goldcorp has paid a monthly dividend to its shareholders since 2003.

All figures are in U.S. dollars.

Canadian resident individuals who receive dividends from Goldcorp after 2005 are entitled to an enhanced gross up and dividend tax credit on such dividends.

We seek Safe Harbor.