This is not a joke: Rare cat sighting could boost HudBay bid for Augusta

|About: Augusta Resource Corporation (AZC)|By:, SA News Editor

The rare sighting of an ocelot will delay the permitting process for Augusta Resource's (AZC +1%) Rosemont copper project, and some analysts think the uncertainty could raise the probability of success for HudBay Minerals' (HBM -1.4%) hostile takeover bid.

Desjardins analyst Jackie Przybylowski says the news could encourage AZC shareholders to tender to HBM’s bid, noting that HBM had said permitting for Rosemont would take much longer than AZC was planning.

Laurentian Bank's Christopher Chang thinks Rosemont will get permitted, but AZC shareholders will get increasingly impatient if there are more delays.

CIBC's Tom Meyer puts less weight in the news, saying further permitting delays are not surprising and are factored into the current share price.