CAA is in a unique position for a jr company.....CAA has superb exploration potential on its Fox River.....and upside of future expansion of the HBM relationship in the war Baby.

HBM has done a wonderfull thing in the past couple months in their definition of resources in the 777 mine and Callninan mine ...... They have provided the long term potential of the 6 3/4% royalty to CAA. Looks like HBM is saying some 18 years of prodution capability.

With this confirmation, long term planing can get underway..... The royalty can provide the funds for exploration and....! it can reward the shareholders of CAA via ramping up a dividend payment on a quartery basis dependant on the actual cash flow from HBM.

If they were to start with one cent / share/ quarter that would only cost CAA $450,000 or about 11 to 15% of the HBM payment. As the company cash position increases thisdivy can be increased.... It could be at 5 cents/ share within a year... increasing 1 cent / quarter as the royaly distribution for HBM stabilizes.

Once sufficent funds are held in the bank account for anual work commitments the remainder should be dividended out. There is a danger in holding too much cash..... There is a danger in the share price being too low.

There are many oportunists in the market, and the best way to prevent an oportunistic buyout is to have the stock trading in relationship to it's intrinsic value....

That value should be in the $4 to $5 range minimum just for the quarterly dividend...

Plus the War Baby potential and possible back payment from HBM

Plus the Fox River exploration potential.

The dividend is a means to an end.... That of driving shareholder value and positive perception in the market.

Should CAA start paying a dividend ... it will be the ONLY jr explorer doing so.

Not only that dillution is not going to reduce the upside exporation potential .....

This is a unique time for CAA...

I bet if the company proposed such a dividend the share price would respond imediately.... and this would spawn some urgency in dealing with CAA both from HBM and other potential royalty companies.

JMHO