Haywood Securities Analyst Stefan Ioannou says he has a favorable view of Hudbay Minerals Inc Ord Shs (HBM) because the company has an impressive growth profile going forward. He says Hudbay’s mainstay is in the Flin Flon region of Manitoba, which is a historic, world-class mining camp.
“They’ve got three mines currently in production there, namely 777, Lalor and Reed,” Ioannou says. “Lalor is relatively new and stands to replace 777 as the camp’s flagship deposit with notable exploration upside potential.”
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Ioannou says Hudbay also has a lot of zinc production in its profile, and is working to establish commercial production at Constancia, which is a large copper project in Peru. And, he says Hudbay’s longer-term growth profile includes a copper project in Arizona that resulted from its takeover of Augusta last year.
“Focus is centered on permitting, which remains underpinned by a vague timeline noting the project has a history of environmental opposition. So we will have to wait and see on that one,” Ioannou says. “But the company’s production growth profile looks very impressive over time, if they can execute in Manitoba, get Constancia up and running well this year, and then work toward a more definitive timeline for Rosemont down the road.”
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