Key Developments: HudBay Minerals Inc (HBM)
7.83USD
24 May 2013
$0.03 (+0.38%)
$7.80
$7.73
$7.95
$7.71
15,234
35,890
$12.04
$7.11
Latest Key Developments (Source: Significant Developments)
HudBay Minerals Inc Declares Semi-Annual Dividend Of $0.10 Per Share
HudBay Minerals Inc announced that its Board of Directors has declared a semi-annual dividend in the amount of $0.10 per common share, payable on March 28, 2013 to shareholders of record on March 18, 2013. Full Article
Beaufield Resources Inc Announces Signing of Exclusivity Agreement and Letter of Intent for Purchase of HudBay Minerals Inc's Balmat Holding Corporation
Beaufield Resources Inc announced that it has signed an exclusivity agreement (the Exclusivity Agreement) and a non-binding letter of intent (the LOI) with HudBay Minerals Inc. (Hudbay) to acquire the Balmat Zinc Mine (Balmat) in New York State via the acquisition of all the issued and outstanding shares of the capital of Balmat Holding Corporation (Balmat Holding), a wholly-owned subsidiary of HudBay (the Acquisition). The LOI and Exclusivity Agreement give Beaufield 90 days to complete its confirmatory due diligence review, negotiate a definitive agreement, and close the Acquisition based on the terms provided for in the LOI. The key terms of the LOI contemplate Beaufield acquiring Balmat for payments totalling CAD12 million and up to CAD2 million in initial equity of Beaufield, consisting of: An initial payment due upon closing of the Acquisition (the Closing) of CAD4 million in cash; Equity consideration issued at Closing up to CAD2 million in common shares of the Company's capital (the Shares) priced at a 5% discount to the 10-day volume-weighted average price prior to the closing date, subject to a maximum of 12 million shares; A second cash payment due six months after Closing of CAD4 million; A third cash payment due 12 months after Closing of CAD4 million. Full Article
HudBay Minerals Inc Completes Offering for USD500,000,000 Senior Unsecured Notes
HudBay Minerals Inc announced that it has completed its previously announced offering of USD500 million aggregate principal amount of 9.50% senior unsecured notes due 2020 (the Notes). Hudbay plans to use the net proceeds from the offering for general corporate purposes and the development of its Lalor and Reed projects in Manitoba and its Constancia project in Peru. Full Article
HudBay Minerals Inc Announces Pricing for USD500,000,000 Senior Unsecured Notes
HudBay Minerals Inc announced that it has priced an offering of US$500 million aggregate principal amount of 9.50% senior unsecured notes due 2020 (the "Notes"). In response to the market reception for the offering, the Company upsized the offering from US$400 million to US$500 million. The Notes were priced at 100% of the aggregate principal amount, providing the Company with gross proceeds of US$500 million and will yield 9.50% to maturity. The offering is expected to close on or about September 13, 2012, subject to customary closing conditions. Hudbay plans to use the net proceeds from the offering for general corporate purposes and the development of its Lalor and Reed projects in Manitoba and its Constancia project in Peru. Upon completion of the offering, Hudbay intends to discontinue syndication of its previously announced USD600 million credit facility and retain its existing USD300 million credit facility. Full Article
HudBay Minerals Inc Announces Offering Of $400,000,000 Senior Unsecured Notes
HudBay Minerals Inc announced that it is offering $400 million aggregate principal amount of senior unsecured notes due 2020 (the Notes). Hudbay plans to use the net proceeds from the offering for general corporate purposes and the development of its Lalor and Reed projects in Manitoba and its Constancia project in Peru. Full Article
HudBay Minerals Inc Announces Semi-Annual Dividend
HudBay Minerals Inc announced that its Board of Directors has declared a semi-annual dividend in the amount of $0.10 per common share, payable on September 28, 2012 to shareholders of record at the close of business on September 14, 2012. Full Article
Troymet Exploration Corp And HudBay Minerals Inc.'s Subsidiary Sign Joint Venture Agreement On McClarty Lake Project
Troymet Exploration Corp announced that it has signed a formal joint venture agreement with a subsidiary of HudBay Minerals Inc., in respect of two claims (DYC3606 & DOL78; 252 hectares) that form part of McClarty Lake project located near Snow Lake, Manitoba. The participating interests are Hudbay - 60% and Troymet - 40%. Under the terms of the joint venture agreement, Hudbay must contribute $1,151,052 in joint venture expenditures before Troymet is required to fund participating interest. Thereafter, Hudbay and Troymet will share all future exploration and development expenditures pro-rata based on their participating interests. Full Article
Aquila Resources Inc Enters Into Operating Agreement with HudBay Minerals Inc. for Back Forty Project
Aquila Resources Inc announced the Company has entered into an Operating Agreement with HudBay Minerals Inc. (Hudbay) to advance work at the Back Forty project (Back Forty or the Project). The Company also announced that, together with Hudbay, it expects to release a National Instrument (NI) 43-101 Preliminary Economic Assessment (PEA) for the Project within the next 60 days. The Back Forty project currently contains an NI 43-101 compliant Measured plus Indicated resource estimate of 17.89 million tonnes grading 1.57 g/t gold, 19.60 g/t silver, 0.19% copper and 2.44% zinc. Total contained metals include 907,000 ounces of gold, 11.31 million ounces of silver, 963 million pounds zinc, and 75.8 million pounds of copper. The Operating Agreement will govern exploration, development and operations at Back Forty. Under the terms of the Operating Agreement, Back Forty assets will be transferred into a Michigan Limited Liability Company. Initial ownership interests are 49% for Aquila and 51% for Hudbay, who will also remain the Project operator. Hudbay can increase its ownership to 65% (or an incremental 14% ) following completion of the feasibility study, submission of all mine permit applications and by making payments on outstanding land option agreements. Additionally, Hudbay will have the ability to increase its stake by another 10% should Aquila elect not to fund its portion of capital expenditures for development within 90 days of receipt of mining permits. Full Article
Rockcliff Resources Inc Announces Exercises Option To Earn 100% Interest In Rail VMS Property With HudBay Minerals Inc's Subsidiary
Rockcliff Resources Inc announced that it has exercised its option to earn a 100% interest in the Rail Property in Snow Lake, Manitoba. Pursuant to an option agreement with Hudson Bay Exploration and Development Company Limited (HBED), a wholly owned subsidiary of HudBay Minerals Inc., Rockcliff was required to pay an aggregate of $370,000 cash and exploration expenditures totalling $1,600,000 over a five year period in order to earn a 100% interest in the Rail Property. Once the cash and expenditure requirements are completed, HBED then has a right to earn back up to a 65% interest in the Rail Property. HBED and Rockcliff entered into an amending agreement whereby HBED has agreed to accept 2,727,273 common shares of Rockcliff valued at $0.099 per share in lieu of the final cash option payment of $270,000 due pursuant to the option agreement. The transaction is subject to regulatory approval. On closing of the transaction, Rockcliff will have earned its 100% undivided interest in the Rail Property and HBED will receive a 2% Net Smelter Return Royalty and has the right to earn back up to a 65% interest in the Rail Property. For further information, please see the Press Release dated March 23, 2007. Full Article
HudBay Minerals Inc Declares Semi-Annual Dividend
HudBay Minerals Inc announced that the board of directors have declared a semi-annual dividend in the amount of $0.10 per common share, payable on March 30, 2012, to shareholders of record on March 20, 2012. Full Article
UPDATE 1-PDAC-HudBay eyes prospects with majors on sidelines
TORONTO, March 6 - Most of the world's top miners are shying away from takeovers this year, clearing the way for mid-tier producers like HudBay Minerals Inc to bid for assets coming up for sale, the company's CEO told Reuters at a Toronto mining convention.
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