Cash cost for the first quarter of 2013 was $1.78/lb, compared to $1.18/lb for the same period in 2012. The increase is due primarily to the commencement of deliveries of gold and silver to Silver Wheaton under the stream agreement as the non-cash portion of these sales is excluded from by-product credits and the total sales price is relatively lower than the first quarter of 2012. The impact of the stream agreement reduced net by-product credits by approximately $0.79/lb during the quarter.
Website LinksHudbay:http://www.hudbayminerals.com/Management's Discussion and Analysis:http://media3.marketwire.com/docs/HUDBQ1MDA2013.pdfFinancial Statements:http://media3.marketwire.com/docs/HUDBQ1FS2013.pdfConference Call and WebcastDate: Thursday, May 2, 2013Time: 10 a.m. ETWebcast: http://www.hudbayminerals.com/Dial in: 416-644-3415 or 877-974-0445Replay: 416-640-1917 or 877-289-8525Replay Passcode: 4610976#
The conference call replay will be available until midnight (Eastern Time) on May 16, 2013. An archived audio webcast of the call also will be available on Hudbay's website.
This news release contains "forward-looking statements" and "forward-looking information" (collectively, "forward-looking information") within the meaning of applicable Canadian and United States securities legislation. All information contained in this news release, other than statements of current and historical fact, is forward-looking information. Forward-looking information includes information that relates to, among other things, our objectives, strategies, and intentions and future financial and operating performance and prospects. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "budget", "guidance", "scheduled", "estimates", "forecasts", "strategy", "target", "intends", "objective", "goal", "understands", "anticipates" and "believes" (and variations of these or similar words) and statements that certain actions, events or results "may", "could", "would", "should" or "might" "occur" or "be achieved" or "will be taken" (and variations of these or similar expressions). All of the forward-looking information in this news release is qualified by this cautionary statement.
Forward-looking information includes, but is not limited to, continued production at Hudbay's 777 and Lalor mines, continued processing at the company's Flin Flon concentrator, Snow Lake concentrator and Flin Flon zinc plant, Hudbay's ability to develop its Lalor, Constancia and Reed projects and the anticipated scope of, cost of and development plans for, these projects, anticipated timing of Hudbay's projects and events that may affect the company's projects, Hudbay's expectation that it will receive the remaining US$250 million deposit payment under the precious metals stream transaction with Silver Wheaton Corp., the anticipated effect of external factors on revenue, such as commodity prices, anticipated exploration and development expenditures and activities and the possible success of such activities, estimation of mineral reserves and resources, mine life projections, timing and amount of estimated future production, reclamation costs, economic outlook, government regulation of mining operations, and business and acquisition strategies.