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HudBay Minerals (HBM +2.3%) greenlights its $1.5B Constancia copper project in Peru and strikes...

HudBay Minerals (HBM +2.3%) greenlights its $1.5B Constancia copper project in Peru and strikes a $750M financing arrangement with Silver Wheaton (SLW +6.8%) to help pay for it. In exchange for the cash, HBM will sell a portion of the byproduct gold and silver production from the Constancia and 777 projects to SLW at below-market prices. (also)
Comments (2)
  • Brian Manuel
    , contributor
    Comments (3) | Send Message
     
    As a shareholder in SLW, i'm pleased to see this deal that highlights SLW's strength. Also with the silver spot in backwardation, this is a strong positive for the sector. Also, earnings are due at the close Thursday. Stay tuned.
    8 Aug 2012, 01:23 PM Reply Like
  • raff1994
    , contributor
    Comments (2) | Send Message
     
    I would like to know what is below market value actually means in this case.
    8 Aug 2012, 11:37 PM Reply Like
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