Local News

Hudbay has released its first quarter financial results for this year.


Along with the Manitoba results we reported on Friday Hudbay reported overall a net loss of 2.3 million dollars for the quarter compared to a net loss of 15.8 million in the first quarter of 2016.  President Alan Hair says they had another quarter of positive free cash flow generation allowing for further debt repayment in the quarter. He explains while they generated positive free cash flow during the first quarter of 2017 there were a few items that impacted financial results this quarter. There were a number of one time mill maintenance costs and delays impacting production and units costs, also low opening concentrate inventory and late quarter sales where revenue will be booked later in the year upon delivery affected their financial results in the first quarter.


Hair adds their focus for this year remains on delivering on their operating targets, debt reduction and advancing the high return in house brownfield opportunities at Lalor near Snow Lake and Pampacancha in Peru and they are well on track to deliver on these objectives.


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