Hudbay has released its second quarter 2019 financial results. Interim President and CEO Peter Kukielski said building off a solid first quarter Hudbay delivered strong operating results in the second quarter including record mine production at Lalor, record throughput at the Stall Concentrator, both in Snow Lake and strong production results in Peru notwithstanding the planned semi-annual maintenance activities at the Constancia mill. He noted based on these results they are on track to achieve their full 2019 production cost and capital expenditure guidance.
Kukielski added in Snow Lake they announced the initial resource estimate for the 1901 deposit which we will look at in tomorrow’s news. In the second half of the year they will continue advancing the WIM, Pen II and New Britannia zones to upgrade them to a reserve classification. At Rosemont in Arizona they intend to appeal a court decision suspending construction work while evaluating options for advancing the project.
Hudbay reported a net loss in the second quarter of 54.1 million dollars compared to a net profit of 24.7 million in the second quarter of last year.