Strong Production Results Remain on Track to Meet 2011 Guidance
TORONTO, ONTARIO -- (Marketwire) -- 08/09/11 -- HudBay Minerals Inc. (TSX: HBM)(NYSE: HBM) -
Highlights
-- Production of all key metals and costs remain on track to meet 2011
guidance
-- Profit before asset impairments(i) increased to $40.0 million, or $0.23
per share, in the second quarter of 2011, compared to $4.4 million, or
$0.03 per share, during the second quarter of 2010
-- Lalor development proceeding on schedule with the main production hoist
and man hoist starting to arrive on site for installation in the third
quarter of 2011
-- Exploration drilling continues to encounter high grade copper (3.23%
copper equivalent over 52.5 meters and 1.54% copper equivalent over 44.7
meters) at Pampacancha, demonstrating the continuity of the deposit,
with geophysical surveys completed on the Chilloroya South and
Pampacancha prospects
-- Exploration drilling at 100% owned Tom and Jason zinc-lead rich
properties in the Yukon will test possible extensions of known
mineralization and provide metallurgical samples and information
required for a preliminary economic assessment in early 2012
-- Semi-annual dividend of $0.10 per share declared
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