HudBay extends hostile bid for Augusta to June 20

|By:, SA News Editor

HudBay Minerals (HBM) extends its hostile offer for Augusta Resource (AZC) until June 20, but makes no new changes to the terms of its proposal.

It's the latest extension by HBM since the B.C. Securities Commission decided to allow AZC's shareholder rights plan to remain in place unless HBM extends its offer to July 16.

HBM, which owns ~16% of AZC, has offered 0.315 of a HBM share for each AZC share.