In their 4th quarter financial results we reported on on Friday Hudbay and President Alan Hair also gave an update on their Manitoba operations. He says these operations helped with increased production explaining for the 4th quarter of 2015 production of copper and gold remained consistent compared to the same period last year while zinc and silver were increased by 69 percent and 35 percent respectively as a result of increased production at Lalor and higher zinc and silver grades at both Triple Seven and Reed mines. He says in 2015 production of all metals increased compared to 2014 as a result of increased production at Lalor and higher copper grades at Reed concluding they met their guidance targets for both production and unit operating costs.
Hair adds they are continuing a study to optimize the Lalor Mine surface processing facilities near Snow Lake and expect the results by the end of the year.
As we reported Friday Hudbay had a loss of 255.5 million dollars in the quarter as higher sales volumes were offset by lower prices and higher treatment and refining charges.
