Along with the Manitoba results we reported yesterday Hudbay President and CEO Alan Hair reported in the first quarter of 2019 they continued to maximize the potential of their Peru and Manitoba operating assets with record copper recoveries at Constancia and record throughput at both Lalor and their Stall concentrator in Snow Lake. As well they achieved several de-risking milestones at their Rosemont project in Arizona. Hair added their focus for 2019 is to continue to deliver on a number of near term catalysts including advancing their new Lalor gold strategy, completing the early works program and finalizing financing arrangements for Rosemont, developing the high grade Pampacancha satellite deposit in Peru, continuing to maximize throughput and recoveries at Constancia and advancing both near mine and Greenfield exploration activities.
Hudbay reported a net loss in the quarter of 13.4 million dollars compared to a net profit of 41.4 million in the first quarter last year. Operating cash flow decreased as a result of lower realized prices and lower sales volumes of copper, gold and zinc and higher cash costs compared to the first quarter of last year.