Hudbay has announced it has acquired ownership of just over 10.7 million common shares of Mason Resources Corporation. The purchase price was 26 cents per share for total consideration of just under 2.8 million dollars. As a result of this investment Hudbay now owns and has control of just under 10.9 million shares representing approximately 13.9 percent of the issued and outstanding shares.
Mason Resources is a Canadian mining company focused on copper exploration and development in the United States with the Ann Mason copper deposit in Nevada and the copper gold Lordsburg projects in New Mexico.
Hudbay stated the acquisition of shares is being made for investment purposes and they may in the future increase or decrease ownership of the shares depending upon the business and prospects of Mason, future market conditions and Hudbay’s investment objectives.