Hudbay Announces First Quarter 2021 Results
Hudbay Minerals Inc. today released its first quarter 2021 financial results. All amounts are in U.S. dollars, unless otherwise noted. First Quarter Operating and Financial Results Consolidated copper production in the first quarter was 24,553 tonnes at cash cost and sustaining cash cost 1 per pound of copper produced, net of by-product credits, of $1.04 and $2.16, respectively. Consolidated gold production in the …
Hudbay Minerals Inc. (“Hudbay” or the “company”) (TSX, NYSE:HBM) today released its first quarter 2021 financial results. All amounts are in U.S. dollars, unless otherwise noted. First Quarter Operating and Financial Results Consolidated copper production in the first quarter was 24,553 tonnes at cash cost and sustaining cash cost
The initial US$1,500,000 is a minimum commitment (
Minimum Commitment ); Phases I, II and III are at Newcrest s election to proceed. Should Newcrest elect to continue to Phase I, it shall also pay to Discovery Harbour US$250,000. Newcrest can withdraw from the Agreement any time after meeting the Minimum Commitment.
The cumulative expenditure through to the end of Phase II is US$31,500,000. Any excess expenditures from a previous phase will be applied to the subsequent phase.
Newcrest may extend the Phase III period by 12 months by paying Discovery Harbour US$500,000.
At the end of Stage III, if Newcrest earns a 75% interest it then must acquire Discovery Harbour s 25% interest at a fair value based upon parameters using standard industry valuation methods.