Hudbay has released its 4th quarter results. They report a net loss of 3.5 million dollars in the last quarter of 2018 compared to a net profit of 94.3 million dollars in the same quarter of 2017 due mainly to lower realized prices and sales volumes for copper and zinc. President Alan Hair reports in the 4th quarter they continued their trend of generating strong operating cash flow as they remained focused on their strategic priorities of developing and operating their portfolio of quality assets in mining friendly jurisdictions. He says they are proud of their operating performance in both Peru and Manitoba resulting in consolidated basis copper production exceeding guidance two years in a row further generating cash flow beyond expectations.
Hair adds over the last several years Hudbay has grown beyond its Manitoba base through acquisition, exploration and development into a leading mid-tier copper producer with low cost long life assets in Canada, Peru, Arizona and recently Nevada with the acquisition of the Ann Mason Project.