Category: Augusta Resource
5 Posts
POSTED ON June 23, 2014 BY Tommy Humphreys

Ecuador has a terrible reputation as a mining jurisdiction, ever since the government there passed a 70% windfall profits tax on metals mined, highlighted by the fact that major miner Kinross abandoned the Fruta Del Norte gold project there last year, which they paid over $1.2 billion for in 2009. So I have no idea… Continue Reading

POSTED ON June 23, 2014 BY Peter Koven

POSTED ON February 27, 2014 BY Peter Koven

By Peter Koven, Financial Post TORONTO • Augusta Resource Corp. is “essentially insolvent” and facing severe financial risks in the coming months, according to the company that wants to take it over. David Garofalo, the chief executive of HudBay Minerals Inc., tore into Augusta’s management in an interview on Thursday as the $428-million hostile takeover… Continue Reading

POSTED ON February 11, 2014 BY James Kwantes

There are many interesting things about Hudbay’s takeover offer for the 84% of Augusta Resource that it doesn’t already own – an offer that has breathed a bit more life into a moribund mining M&A scene that is slowly reviving. Augusta is developing the advanced-stage Rosemont copper deposit southeast of Tucson, Arizona, which is projected… Continue Reading

POSTED ON February 10, 2014 BY Travis McPherson

Late last night, Hudbay Minerals (HBM:TSX) announced it was making an unsolicited offer for the remaining shares of Augusta Resource Corp (AZC:TSX).  Hudbay is offering 0.315 (~$2.96 per Augusta) of its shares for each share of Augusta representing a 62% premium to the 20-day VWAP and an 18% premium to Friday’s close.  The offer values… Continue Reading

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