​We continue to view Hudbay favourably based on management’s focus on cost reduction and efforts to strengthen the balance sheet. Hudbay has secured an additional $30 million in new commitments for its credit facilities and improved its liquidity. However, we caution that while the Rosemont project offers the potential for medium-term production growth, the company needs to work through a number of obstacles, including successful permitting, obtaining external sources of financing, and seeing higher copper prices, before moving ahead with this project.
HudBay Minerals is engaged in the discovery, production and marketing of copper, gold, silver, zinc and other base and precious metals in North, Central and South America. Through its subsidiaries, Co. owns copper, zinc and gold mines, ore concentrators and a zinc production facility in northern Manitoba and Saskatchewan, and a copper project in Peru.
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