RE:Hudbay empties its coffers
It's an all-stock offer, so their cash position won't change if it's accepted.
More to the point, it gives us an idea of the type of acquisitions HBM is interested in. This is a near-producer that fits in with their operations and planned operations.
It's NOT some pissant junior whose reserves are (Nil), whose only income comes from a check HBM writes quarterly, and whose assets consist of a collection of spare parts that are in no way accretive.
HBM doesn't care about Callinan because management is either too stupid or too preocupied to make HBM care about Callinan. The only thing Roland is interested in saying to HBM is "Yes Massah!" Anything else, including "Where the hell do you get off destroying documents?", runs the risk of upsetting the paymaster, and ruining his cute little royalty gig.