Hudbay reports at the Lalor Mine of the total mine construction budget of 441 million dollars they have invested approximately 386 million to February 28th with an additional 36 million dollars in commitments. The commissioning of the production shaft and doubling of the production rate at the mine and concentrator to 27 hundred tonnes per day remains on schedule for this July. Hudbay recently received its Environment Act licence for Lalor which will enable full production through the main shaft.
At the Reed Mine the company has invested approximately 64.9 million dollars of the 72 million dollar estimated capital construction budget to February 28th. Project development has advanced almost 3 thousand meters with the mine producing just over 82 thousand tonnes of ore from a combination of drift development and longhole stope mining. The project is on budget and schedule and is expected to reach commercial production by the second quarter of this year.