Q2 Summary: 

  • Delivered a solid operating quarter, which included record mine production at Lalor and record throughput at the Stall concentrator
  • 777 and Lalor ore mined increased by 35% and 21%, respectively, in the second quarter of 2019 compared to the same period in 2018
  • Second quarter 2019 results are on track to meet all production and cost guidance for 2019
  • Following the previously announced U.S. court decision suspending construction work at Rosemont, Hudbay intends to appeal the decision and is evaluating options for advancing the project
  • Announced an initial National Instrument ("NI") 43-101 resource estimate for the recently discovered zinc-rich 1901 deposit near Lalor
  • Progressed other key strategic initiatives, including engineering and permitting for the Lalor Gold strategy and community negotiations near Constancia
  • Cash generated from operating activities increased to $107.0 million in the second quarter of 2019 from $97.0 million in the same quarter of 2018, while operating cash flow before change in non-cash working capital decreased to $81.1 million in the quarter from $131.6 million in the same quarter of 2018 as a result of lower realized prices and sales volumes
  • Cash and cash equivalents increased from $485.9 million at March 31, 2019 to $489.5 million at June 30, 2019, as free cash flow from operations more than funded the $45.0 million upfront cost to acquire the Rosemont minority joint venture interest and $50.0 million of capital expenditures

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