GREY:CCNMF - Post by User
Post by
droid8805on May 06, 2008 10:42pm
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Hudbay MD&A...beautiful stuff inside
Hudbay MD&A...beautiful stuff insideInteresting snippets from the quarterly results:
1. "An estimated net profits interest expense associated with the Company's Callinan agreement
increased operating costs by $4.8 million."
2. "Ore production at the 777 mine for the first quarter increased by 1% compared to the same period in
2007. Zinc grade was lower by 7% and copper grade was higher by 15% due to planned changes within
the mining sequence. The gold grade was 8% lower, and the silver grade was 7% lower, related to the
areas mined in the quarter. Operating costs per ore tonne in the first quarter were higher by 2% related
to increases in the cost of commodities; diesel fuel 16% and propane 18%."
The 777 mine truly is a world class flagship asset. Operating costs only increased by 2%. That is amazingly good news. The rest of Hudbay`s operating results were quite weak by comparison. I can`t wait to see the market reaction when the announcement comes that Callinan has just received a cheque for 4.8 million dollars for the quarter. Imagine... Callinan earned more money in the first three months of 08 than the majority of the major financial institutions in the states will earn all year lol. I can't wait for the conference call tomorrow. Lets hope CIBC change their tune and stop unloading their position once they sniff this cheque coming.