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Hudbay Minerals Inc. (HBM)
11.3 ? 0.0 (0.00%)
Volume: 336,100 @ 2:46:31 PM ET
Bid Ask Day's Range
11.3 11.31 11.27 - 11.46
TSE:HBM Detailed Quote Wiki
Hudbay Minerals Inc. (HBM)
12.11 ? 0.27 (2.28%)
Volume: 485,000 @ 4:00:00 PM ET
Bid Ask Day's Range
12.1 12.17 11.83 - 12.2
TSE:HBM Detailed Quote Wiki
Hudbay Minerals Inc. (HBM)
12.02 ? -0.21 (-1.72%)
Volume: 394,300 @ 4:00:00 PM ET
Bid Ask Day's Range
12.01 12.12 12.0 - 12.26
TSE:HBM Detailed Quote Wiki
Hudbay Minerals Inc. (HBM)
10.98 ? 0.28 (2.62%)
Volume: 418,300 @ 3:17:31 PM ET
Bid Ask Day's Range
10.98 10.99 10.69 - 11.03
TSE:HBM Detailed Quote Wiki
Hudbay Minerals Inc. (HBM)
10.45 ? 0.1 (0.97%)
Volume: 343,900 @ 12:29:48 PM ET
Bid Ask Day's Range
10.44 10.45 10.34 - 10.58
TSE:HBM Detailed Quote Wiki
Hudbay Minerals Inc. (HBM)
10.36 ? 0.17 (1.67%)
Volume: 1,067,700 @ 4:00:00 PM ET
Bid Ask Day's Range
10.36 10.37 10.18 - 10.74
TSE:HBM Detailed Quote Wiki
Hudbay Minerals Inc. (HBM)
10.96 ? 0.1 (0.92%)
Volume: 502,900 @ 4:20:48 PM ET
Bid Ask Day's Range
10.91 10.98 10.65 - 11.0
TSE:HBM Detailed Quote Wiki
Hudbay Minerals Inc. (HBM)
11.45 ? -0.05 (-0.43%)
Volume: 490,100 @ 4:00:00 PM ET
Bid Ask Day's Range
11.42 11.45 11.29 - 11.6
TSE:HBM Detailed Quote Wiki
Hudbay Minerals Inc. (HBM)
12.87 ? 0.43 (3.46%)
Volume: 394,800 @ 4:00:00 PM ET
Bid Ask Day's Range
12.7 12.88 12.54 - 12.9
TSE:HBM Detailed Quote
Hudbay Minerals Inc. (HBM)
13.8 ? 0.44 (3.29%)
Volume: 518,300 @ 4:00:00 PM ET
Bid Ask Day's Range
13.79 13.8 13.5 - 13.87
TSE:HBM Detailed Quote
Hudbay Minerals Inc. (HBM)
13.81 ? -0.22 (-1.57%)
Volume: 1,177,000 @ 3:54:57 PM ET
Bid Ask Day's Range
13.8 13.81 13.71 - 14.07
TSE:HBM Detailed Quote
Hudbay Minerals Inc. (HBM)
14.75 ? 0.3 (2.08%
Volume: 292,600 @ 11:18:57 AM ET
Bid Ask Day's Range
14.75 14.76 14.5 - 14.92
TSE:HBM Detailed Quote
Hudbay Minerals Inc. (HBM)
14.85 ? -0.07 (-0.47%)
Volume: 262,241 @ 2:59:45 PM ET
Bid Ask Day's Range
14.85 14.86 14.84 - 15.12
TSE:HBM Detailed Quote
HudBay says it has the equivalent of 3.1 million tonnes of copper reserves
By: The Canadian Press
Posted: 03/31/2011 5:55 PM | Comments: 0 | Last Modified: 03/31/2011 6:17 PM
TORONTO - HudBay Minerals Inc. (TSX:HBM) says its copper-equivalent reserve estimate has nearly quadrupled, to 39.2 pounds per common share from 11.3 pounds per share in 2010 — mainly due to a recent acquisition in Peru.
The copper-equivalent reserves, which include gold, silver and other metals as well as copper, have risen 288 per cent to 3.1 million tonnes this year, the Toronto-based mining company said Thursday.
HudBay said its estimates are based on proven and probable reserves at several mines but not nickel reserves at the Fenix project in Guatemala.
"As promised, we have systematically executed on our objective of growing our mineral exposure on a per-share basis through accretive acquisitions and exploration, which we believe will lead to a substantial value re-rating of HudBay over the course of this year," said David Garofalo, president and CEO.
"With one of the largest exploration budgets in our history in 2011, which has now increased to approximately $70 million, we expect to continue growing our reserves and resources on our existing properties."
Garofalo said much of the growth from the acquistion of the Constancia copper project in Peru, which added 1.8 million copper-equivalent tonnes of proven and probable reserves — about 42 per cent of HudBay's total.
HudBay acquired Constancia with its friendly takeover of Norsemont Mining Inc., a deal that was valued at$520 million when it was announced in January. HudBay had acquired 98 per cent of Norsemont's shares by mid-March.
HudBay's copper equivalent reserves increase 288%Toronto's HudBay Minerals says it will begin a US$116 million pre-construction program this year at the Constancia Copper Project in Peru.
Author: Dorothy Kosich
Posted: Friday , 01 Apr 2011
RELATED STORIES HudBay buys mores shares in U.S. copper/moly mine developer
Consistent performance helps HudBay Minerals meet production targets
HudBay to pay C$397.5 for Norsemont
HudBay Minerals issues 2011 guidance, schedules exploration update
HudBay to buy 11% stake in Augusta Resources and Rosemont copper project
HudBay Minerals sees jump in quarterly operating profits
Higher metal prices help Hud Bay return to profit
RENO, NV -
HudBay Minerals Thursday announced more than a tripling of metal reserves including copper equivalent reserves of 3.1 million tonnes including gold equivalent reserves of 3 million ounces.
Overall copper equivalent mine reserves grew to 39.2 pounds per share, compared to 11.3 pounds per share in 2010.
The company's overall copper equivalent and gold equivalent are based on proven and probable reserves at the Constancia Copper Project in Peru; HudBay's flagship mine the 777, the Lalor Lake Project, the Chisel North Mine, and Trout Lake Mine, all located within the Flin Flon District near the provincial border of Manitoba and Saskatchewan.
The reserve and resource estimate does not include nickel reserves at the Fenix nickel project in Guatemala. HudBay is seeking a joint venture partner for Fenix.
In a statement, HudBay CEO David Garofalo said, "As promised, we have systematically executed on our objective of growing our mineral exposure on a per share basis through accretive acquisitions and exploration, which we believe will lead to a substantial value re-rating of HudBay over the course of this year. "
"Much of this growth was driven by the value-accretive acquisition of the Constancia copper project in Peru, where we plan to initiate procurement and engineering activities, update the resource model and conduct a pit optimization study over the course of the year to enable use to make a formal construction decision in early 2012," he noted.
HudBay has budgeted $70 million for what Garofalo called "one of the largest exploration budgets in our history" in 2011.
Meanwhile, HudBay also announced a 2011 pre-construction program of US$116 million for the Constancia copper project. The program contemplates early equipment procurement for long lead items, a resource model update, metallurgy review and pit optimization study, geotechnical and condemnation drilling and a US$9 million exploration program.
HudBay expects construction to begin at Constancia in early 2012 with the goal of the first full year of production by 2016.
The company has scheduled a conference call with analysts Friday at 12:30 p.m. ET.
http://www.mineweb.com/mineweb/view/mineweb/en/page31?oid=124176&sn=Detail&pid=31
Hudbay Minerals Inc. (HBM)
16.92 ? 0.11 (0.65%)
Volume: 563,693 @ 4:00:00 PM ET
Bid Ask Day's Range
16.9 16.97 16.76 - 17.02
TSE:HBM Detailed Quote
Hudbay Minerals Inc. (HBM)
16.1 ? 0.04 (0.25%)
Volume: 69,556 @ 9:45:28 AM ET
Bid Ask Day's Range
16.09 16.1 15.75 - 16.15
TSE:HBM Detailed Quote
Hudbay Minerals Inc. (HBM)
17.3 ? -0.2 (-1.14%)
Volume: 227,186 @ 3:41:09 PM ET
Bid Ask Day's Range
17.29 17.3 17.25 - 17.6
TSE:HBM Detailed Quote
Debt now equals total U.S. economy
Posted by EU Times on Feb 15th, 2011 //
http://www.eutimes.net/2011/02/debt-now-equals-total-us-economy/
CIA Spy Captured Giving Nuclear Bomb To Terrorists?
Posted by EU Times on Feb 11th, 2011 // 10 Comments
http://www.eutimes.net/2011/02/cia-spy-captured-giving-nuclear-bomb-to-terrorists/
USA Economy Flight 666 -
http://beforeitsnews.com/story/419/579/Economy_Flight_666_-_Our_One-Way_Ticket_to_Zimbabwe.html
Hudbay Minerals Inc. (HBM)
17.62 ? 0.51 (2.98%)
Volume: 371,757 @ 2:07:16 PM ET
Bid Ask Day's Range
17.62 17.63 17.24 - 17.68
TSE:HBM Detailed Quote
Hudbay Minerals Inc. (HBM)
16.81 ? 0.03 (0.18%)
Volume: 333,674 @ 4:00:00 PM ET
Bid Ask Day's Range
16.79 16.84 16.6 - 16.9
TSE:HBM Detailed Quote
Hudbay Minerals Inc. (HBM) fiat$17.15 UP $0.12 +0.70%
Volume: 321,500 @ 4:21:18 PM ET Good volume
Bid Ask Day's Range
17.11 17.15 16.96 - 17.25
http://www.hudbayminerals.com/media/media.php
Hudbay Minerals Inc. (HBM)
17.08 ? 0.48 (2.89%)
Volume: 2,072,371 @ 4:15:26 PM ET
Bid Ask Day's Range
17.07 17.09 16.62 - 17.15
TSE:HBM Detailed Quote
Hudbay Minerals Inc. (HBM)
17.54 ? 0.0 (0.00%)
Volume: -
Bid Ask Day's Range
17.54 17.65 - - -
Full TSE:HBM Quote
Hudbay Minerals Inc. (HBM)
18.54 ? 0.21 (1.15%)
Volume: 522,923 @ 4:00:02 PM ET
Bid Ask Day's Range
18.51 18.54 18.28 - 18.67
Full TSE:HBM Quote
Hudbay Minerals Inc. (HBM)
17.04 ? -0.51 (-2.91%)
Volume: 2,562,749 @ 4:00:00 PM ET
Bid Ask Day's Range
17.03 17.04 16.61 - 17.45
Full TSE:HBM Quote
HudBay Minerals to Commence Trading on the New York Stock Exchange Under 'HBM' Ticker Symbol
http://ih.advfn.com/p.php?pid=nmona&article=44904058&symbol=HBM
Hudbay Minerals Inc. (HBM)
15.99 ? 0.16 (1.01%
Volume: 973,824 @ 4:26:30 PM ET
Hudbay Minerals Inc. (HBM)
15.83 ? 0.25 (1.60%
Volume: 618,729 @ 4:00:00 PM ET
Bid Ask Day's Range
15.82 15.85 15.65 - 16.0
Hudbay Minerals Inc. (TSE:HBM)
Last Price (USD) $15.21
Change ? 0.31 (2.08%)
Bid 15.18
Ask 15.23
Volume 823,409
Days Range 14.62 - 15.29
Last Trade 9/24/2010 4:00:02 PM
HudBay Minerals earns 51% of Michigan gold-silver-copper zinc project
HBM:CA announced today it has earned a 51% interest in Aquila’s Back Forty gold-silver-copper zinc mine in Michigan’s Upper Peninsula. Exploration at the property is ongoing, and an updated NI 43-101 mineral resource estimate is underway.
“We are encouraged by ongoing progress at the Back Forty Project and are pleased to have reached this milestone in our relationship with Aquila Resources,” commented David Garofalo, HudBay’s President and CEO. Riverside, which specializes in gold exploration in Mexico and the United States, has an approximate market cap of $15M and approximately $3.4 million in cash.
View Company Profile
Contact:
John Vincic,
Vice President,
416.362.0615
This article was authored by tniles on Friday, September 10th, 2010 at 9:08 am.
Hudbay Minerals Inc. (TSE:HBM)
Last Price (USD) $11.77
Change ? 0.18 (1.55%)
Bid 11.76
Ask 11.77
Volume 343,961
Days Range 11.40 - 11.77
Last Trade 7/20/2010 2:30:09 PM
Click for detailed quote page
Hudbay Minerals Inc. (TSE:HBM)
Last Price (USD) $12.23
Change ? 0.07 (0.58%)
Bid 12.21
Ask 12.22
Volume 217,988
Days Range 12.17 - 12.36
Last Trade 6/25/2010 10:58:34 AM
Click for detailed quote page
Hudbay Minerals Inc. (TSE:HBM)
Last Price (USD) $11.68
Change $0.08 (+0.69%
Bid 11.67
Ask 11.68
Volume 549,345
Days Range 11.55 - 11.79
Last Trade 6/15/2010 3:46:28 PM
Hudbay Minerals Inc. (TSE:HBM)
Last Price (USD) $11.56
Change ? 0.15 (1.31%)
Bid 11.56
Ask 11.57
Volume 1,676,445
Days Range 11.15 - 11.75
Last Trade 5/12/2010 4:31:59 PM
Click for detailed quote page
Got my eye on her as we go back into selloff mode. I will get some for sure
Hudbay Minerals IN C (TSE:HBM)(USD)$13.60 $0.24 (+1.80%
Bid 13.60
Ask 13.67
Volume 1,251,076 strong demand
Days Range 13.38 - 13.77
Last Trade 3/16/2010 4:10:01 PM
Dont rub it in.
Yeah they scalped me. I had all mine for sale and got lifted and wont chase.
Hudbay Minerals IN C (TSE:HBM)
Last Price (USD) $13.25
Change ? -0.8 (-5.69%)
Bid 13.25
Ask 13.27
Volume 3,106,934
Days Range 12.89 - 13.45
Last Trade 3/4/2010 4:10:01 PM
Click for detailed quote page
Hudbay Minerals IN C (TSE:HBM)
Last Price (CAD)
$ 13.56
Change
? -0.22 (-1.60%)
Bid 13.50
Ask 13.59
Volume 1,143,906
Day's Range 13.38 - 14.07
Last Trade 4:10:00 PM EST
Click for Detailed Quote Page
Hudbay Minerals IN C (TSE:HBM)
Last Price (CAD)
$ 12.16
Change
? 0.06 (0.50%)
Bid 12.16
Ask 12.17
Volume 1,714,779
Day's Range 11.53 - 12.16
Last Trade 4:59:40 PM EST
Click for Detailed Quote Page
Hudbay Minerals IN C (TSE:HBM)
Last Price (CAD)
$ 12.75
Change
? 0.19 (1.51%)
Bid 12.75
Ask 12.76
Volume 954,744
Day's Range 12.51 - 12.78
Last Trade 3:52:40 PM EST
Click for Detailed Quote Page
HudBay shares drop as COO resigns, CEO retires
The company says the timing of the two departures is a coincidence
Author: Cameron French (Reuters)
Posted: Friday , 13 Nov 2009
TORONTO (Reuters) -
HudBay Minerals (HBM.TO: Quote) said on Thursday that recently-appointed CEO Peter Jones will retire at the end of the year, and company president Michael Winship will leave immediately.
The company's shares fell on the news, finishing the session down nearly 5 percent.
Jones' announced departure comes just eight months after he began his second stint as chief executive after a heated proxy battle sparked by the company's ultimately failed attempt to take over Lundin Mining (LUN.TO: Quote).
"This is a shock, I would say. A bit of a disappointment," said John Hughes, a mining analyst a Desjardins Securities.
Reached on his cell phone, Jones said his retirement did not indicate a strategic shift for the company.
"It's a mutual decision," Jones said, when asked whether the decision to retire was his or if he was leaving at the behest of the board. He will remain on the board, while Winship will pursue other opportunities.
"I think it's a good opportunity for me to retire. I'm approaching 63 years old. After discussions with the board, we both felt that now was an opportune time. I think we're parting on good terms," Jones said.
He said the timing of Winship's departure was a coincidence. "I think that's related to other issues, nothing to do with my departure," he said.
Jones previously served as HudBay CEO from 2004 to early 2008, when the board pushed him out for failing to make good on promises to seek acquisitions.
He returned in March as part of a slate put forward by HudBay shareholder SRM global Master Fund and said he would both seek acquisitions and drive organic growth.
Since then, the company has not announced any large deals, although it has pushed ahead on developing its Lalor zinc-gold project, which it discovered in 2007.
The successes at Lalor, where the company recently hit high-grade copper and gold drill intercepts, have helped drive HudBay shares up by more than 90 percent since mid-September.
HudBay said its board has appointed independent director Warren Holmes, as executive vice-chairman to ease a transition to a new CEO and has also started the search for a new CEO.
Holmes will assume the position of acting CEO on Jan. 1, pending the hiring of a new chief executive.
HudBay shares fell 76 Canadian cents to C$15.74 on the Toronto Stock Exchange. ($1=$1.06 Canadian) (Additional reporting by Euan Rocha; editing by Janet Guttsman)
© Thomson Reuters 2009 All rights reserved
Hudbay Minerals IN C (TSE:HBM)
Last Price (CAD)
$ 16.23
Change 0.20 (1.25%
Bid 16.16
Ask 16.24
Volume 2,167,483
Day's Range 15.80 - 16.43
Last Trade 4:20:53 PM EST
Click for Detailed Quote Page
A breakdown in our dollar could result in a consolidation of
the world’s monetary system -
Estulin declares that the creation of the new world currency -
- NWO - OWG -
is the true meaning of globalization,
which is nothing but an empire -
a lot of GOLD they control -
all our peoples Gold -
--
The Gnomes are speaking about the dollar.
It's amazing how good I'm getting at this.
Lucky guess? or am I starting to think like a Gnome?
I think I am.
The Speculators own alot of gold. (Bilderberg = Speculators)
Adam Smith talks about the meeting in 68'. Guess what happened afterwards.
by Scovanner thanks good info
--
G20 ministers gather in Scotland -
http://news.bbc.co.uk/2/hi/business/8345872.stm
G20 Meet To Finalize Dumping Of Dollar? -
the central banksters gangs holding all peoples GOLD -
http://www.prisonplanet.com/g20-meet-to-finalize-dumping-of-dollar.html
http://infowars.net/articles/november2009/041109Estulin.htm
Glen Beck's Radio Show: Dumping the Dollar -
Hudbay Minerals IN C (TSE:HBM)fiat(CAD)$ 16.09 UP 0.24 (+1.51%
Bid 16.08
Ask 16.09
Volume 1,506,959
Day's Range 15.49 - 16.54
Last Trade 3:12:07 PM EST
Click for Detailed Quote Page
HudBay sees mid-2010 decision on Guatemala nickel project
By: Liezel Hill
4th November 2009
TORONTO (miningweekly.com) - Canadian base-metals-miner HudBay Minerals expects to make a final decision on whether to proceed with the Fenix nickel project, in Guatemala, around the middle of next year, CEO Peter Jones said on Wednesday.
The company is trying to come up with a low-cost power solution for the project, which is bought last year when it acquired Skye Resources, and is also relooking at the mine plan and reserves and resource calculations, all of which are expected to result in improved economics for the mine.
An updated capital cost estimate is also being compiled and Jones said that the company will start looking at look at options to finance the Fenix project, including potential joint-venture partners "and other strategic options that could make Fenix more attractive for HudBay".
However, CFO David Bryson commented that these discussions will be somewhat limited by an existing agreement with Brazilian-owned Vale Inco, which has the rights to market ferronickel produced from Fenix.
However, talks with Vale Inco have indicated that the larger miner will be open to a situation where it helps set up and structure an offtake agreement with another party that could also invest in the project as a strategic partner, he said.
"The presence of those marketing rights does impact [on] the attractiveness of Fenix to some of the nickel majors; I think that is a fair comment.
"But just in terms of the joint-venture offtake from someone who is not a nickel producer in a substantial way, I think that we do still have that option open," Bryson said.
Currently, however, the key focus is to secure and settle on a dedicated power supply for the project, which the company would like to have finalised by early next year, Jones indicated.
It is considering thermal power options - either coal fired or pet coke - but there is also the option to participate in one of several hydroelectric projects that are moving through the development process in the region.
HudBay is also working to improve community relations around the project - violence flared up again in September over attempts to persuade people living illegally on the property to relocated.
"Discussions between ourselves and various stakeholder groups are ongoing and we are committed to broadening community support for our activities," Jones said.
HudBay mines zinc, copper, gold and silver from its 777 and Trout Lake mines, in Flin Flon, and announced last week it would restart the Chisel North mine and concentrator in Snow Lake, Manitoba.
Plans to close the company's copper smelter in Flin Flon by mid-2010 remain on track, and HudBay still expects to have concentrate offtake agreements in place before the end of 2009, COO Michael Winship said.
The company reported a third-quarter net income of C$20-million late on Tuesday, up more than 600% from earnings of $2,8-million reported a year earlier.
HudBay shares rose 9,2% on Wednesday, to C$15,74 apiece by 14:39 in Toronto.
EXPLORATION
After cutting operating costs, and with the benefits of firmer metals prices, the company plans to ramp up spending on exploration, Jones said on Wednesday.
Management will ask the board to approve a budget of almost C$40-million for exploration in 2010, which will likely include around C$25-million in grass roots exploration in the Flin Flon greenstone belt.
"We believe this will be one of the largest exploration budgets in Canada," Jones said.
"For HudBay, we have a great track record of success turning exploration dollars into new mines in the belt.
"And this might seem like an obvious statement, but the more we invest, the more we discover."
LALOR
The most recent example of HudBay's exploration success is the Lalor deposit, located near the Chisel mine.
The deposit started as a high-grade zinc discovery, but the company has since identified additional gold and copper/gold zones.
Last month, HudBay approved C$85-million to build a production ramp linking the Chisel North mine to the Lalor deposit, which will allow it to fast-track production of zinc-rich ore, while also proving access to the gold zones for underground exploration.
Tenders for the awarding of the ramp construction contract are currently being developed and the work should be awarded in mid-November, with ramp driving following shortly thereafter, Winship said.
The development of Lalor remains the company's top priority, he reiterated.
The company is working on a prefeasibility study for the broader development of a mine at Lalor and expects to start on a feasibility document early next year.
The second phase of the project will involve clearing the site, procuring long lead items and collaring the shaft, and Jones said that he hopes to be in position to go for board approval for phase 2 in early 2010.
Subject to completion of studies and environmental permitting, initial production from Lalor is expected in 2012, followed by full production in 2014.
Edited by: Liezel Hill
thanks good info
HudBay sees mid-2010 decision on Guatemala nickel project
By: Liezel Hill
4th November 2009
TORONTO (miningweekly.com) - Canadian base-metals-miner HudBay Minerals expects to make a final decision on whether to proceed with the Fenix nickel project, in Guatemala, around the middle of next year, CEO Peter Jones said on Wednesday.
The company is trying to come up with a low-cost power solution for the project, which is bought last year when it acquired Skye Resources, and is also relooking at the mine plan and reserves and resource calculations, all of which are expected to result in improved economics for the mine.
An updated capital cost estimate is also being compiled and Jones said that the company will start looking at look at options to finance the Fenix project, including potential joint-venture partners "and other strategic options that could make Fenix more attractive for HudBay".
However, CFO David Bryson commented that these discussions will be somewhat limited by an existing agreement with Brazilian-owned Vale Inco, which has the rights to market ferronickel produced from Fenix.
However, talks with Vale Inco have indicated that the larger miner will be open to a situation where it helps set up and structure an offtake agreement with another party that could also invest in the project as a strategic partner, he said.
"The presence of those marketing rights does impact [on] the attractiveness of Fenix to some of the nickel majors; I think that is a fair comment.
"But just in terms of the joint-venture offtake from someone who is not a nickel producer in a substantial way, I think that we do still have that option open," Bryson said.
Currently, however, the key focus is to secure and settle on a dedicated power supply for the project, which the company would like to have finalised by early next year, Jones indicated.
It is considering thermal power options - either coal fired or pet coke - but there is also the option to participate in one of several hydroelectric projects that are moving through the development process in the region.
HudBay is also working to improve community relations around the project - violence flared up again in September over attempts to persuade people living illegally on the property to relocated.
"Discussions between ourselves and various stakeholder groups are ongoing and we are committed to broadening community support for our activities," Jones said.
HudBay mines zinc, copper, gold and silver from its 777 and Trout Lake mines, in Flin Flon, and announced last week it would restart the Chisel North mine and concentrator in Snow Lake, Manitoba.
Plans to close the company's copper smelter in Flin Flon by mid-2010 remain on track, and HudBay still expects to have concentrate offtake agreements in place before the end of 2009, COO Michael Winship said.
The company reported a third-quarter net income of C$20-million late on Tuesday, up more than 600% from earnings of $2,8-million reported a year earlier.
HudBay shares rose 9,2% on Wednesday, to C$15,74 apiece by 14:39 in Toronto.
EXPLORATION
After cutting operating costs, and with the benefits of firmer metals prices, the company plans to ramp up spending on exploration, Jones said on Wednesday.
Management will ask the board to approve a budget of almost C$40-million for exploration in 2010, which will likely include around C$25-million in grass roots exploration in the Flin Flon greenstone belt.
"We believe this will be one of the largest exploration budgets in Canada," Jones said.
"For HudBay, we have a great track record of success turning exploration dollars into new mines in the belt.
"And this might seem like an obvious statement, but the more we invest, the more we discover."
LALOR
The most recent example of HudBay's exploration success is the Lalor deposit, located near the Chisel mine.
The deposit started as a high-grade zinc discovery, but the company has since identified additional gold and copper/gold zones.
Last month, HudBay approved C$85-million to build a production ramp linking the Chisel North mine to the Lalor deposit, which will allow it to fast-track production of zinc-rich ore, while also proving access to the gold zones for underground exploration.
Tenders for the awarding of the ramp construction contract are currently being developed and the work should be awarded in mid-November, with ramp driving following shortly thereafter, Winship said.
The development of Lalor remains the company's top priority, he reiterated.
The company is working on a prefeasibility study for the broader development of a mine at Lalor and expects to start on a feasibility document early next year.
The second phase of the project will involve clearing the site, procuring long lead items and collaring the shaft, and Jones said that he hopes to be in position to go for board approval for phase 2 in early 2010.
Subject to completion of studies and environmental permitting, initial production from Lalor is expected in 2012, followed by full production in 2014.
Edited by: Liezel Hill
yes, don't like the weakness of the Us-dollar either.. let's see if it will slow down
Hi goforthebet good to see you with Hudbay Minerals -
I hope all is well with you
the fall can bring very colorful pictures
I am concered for all who rely on the fiats
banksters paper ponzi schemes -
when all fiats going down the drain -
a safe investment is HudBay
ex....
Author Says G-20 Meeting in Scotland this Week about Dumping U.S. Dollar -
Best-selling author Daniel Estulin states that the key issue
to be discussed this week at the G20 Finance Ministers
and Central Bank Governors Meeting, being held in
St. Andrews, Scotland, is how to bring down the present
world financial system through dumping the US dollar.
(Vocus/PRWEB ) November 3, 2009 --
Best-selling author Daniel Estulin states that the key issue
to be discussed this week at the G20 Finance Ministers and
Central Bank Governors Meeting, being held in St. Andrews,
Scotland, is how to bring down the present world
financial system through dumping the US dollar.
Estulin first reported on this initiative as being deliberated
at the most recent Bilderberg meeting held
in Greece in May 2009.
Estulin says that the success or failure of this callous plan
hinges on the ability of the US and UK representatives to
convince the Russian, the Chinese and other national
governments to go along with their scheme.
Estulin maintains that if the co-conspirators succeed,
such sudden devaluation of the US dollar would result in
the sinking of the world economy through a chain-reaction
collapse of the entire world’s financial system.
As discussed during the Bilderberg Group’s super-secret
conclave back in May, this breakdown would then be used
as an excuse to launch a new world monetary system.
G20 leaders are aware that those who run the monetary markets,
the monetary system, control the world.
That is why today, the world is run through a dominant
one-currency monetary system and not by
national credit systems.
A severe breakdown crisis would affect every corner of the world
and be a prelude to instability, wars and general hostility
along financial, geographical and geopolitical lines,
affecting not only particular countries but also societies,
cultures and whole continents.
Such a breakdown could result in a consolidation of
the world’s monetary system.
Estulin declares that the creation of the new world currency
is the true meaning of globalization, which is nothing
but an empire.
It is the elimination of the nation-state, the degradation
of individual national liberties and the depredation
of civil rights.
Collapsing the US dollar, first of all, is an assault on
the structure of the United States economy toward
the creation of a “World Company.”
This concept, Estulin states, was initially discussed at
the April 1968 Bilderberg Group meeting, held in Canada
at Mont Trembland, by George Ball, a senior Lehman Brothers
banker and former undersecretary for economic affairs
for Presidents John Kennedy and Lyndon Johnson.
The aim of this World Company, as explained by Ball was
“to eliminate the archaic political structure of nation-state”
in favor of the more “modern” corporate structure.
Ball also called for further political integration in Europe,
and then the rest of the world, as a precondition for
expanding the power of a World Company, thus putting
the financiers on the same levels as governments.
This initiative, the moving away from the US dollar as
a world currency, is the true intention of the G20 meeting
November 6-7 at St. Andrews in Scotland, the site of
the 1998 Bilderberg conference, Estulin asserts.
http://www.prweb.com/releases/G-20/US_Dollar/prweb3150584.htm
So we know why India is happy to get IMF Gold -
and what about you?!
Got Gold hard rock treasures -
ex..of a Gold venture penny play
CQR/CQRLF - The Calm Before The Run -
Drilling has begun -
I believe GoldCorp is watching this company very close -
this is stock is currently under the radar
and should gain some attention very soon -
well, CQR still an Ausome bargain..
dd..listen to..
Presentation by John F. Kearney, Conquest's Chairman on "InvestmentPitch.com"....
http://www.investmentpitch.com/media/514/Conquest_Resources_Ltd.__TSXV_CQR/
WHY RED LAKE GOLD BELT?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=41185478
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=41481973
http://investorshub.advfn.com/boards/board.aspx?board_id=11788
imo. tia.
God Bless
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