GREY:VMSTF - Post by User
Post by
norim109on Nov 06, 2008 11:20am
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Post# 15569849
From RBC Capital markets
From RBC Capital marketsHudBay seems to be very pleased by the exploration results being posted by JV partner, VMS Ventures, for the Reed Lake project. We expect HudBay will soon have the opportunity to earn back an interest in the project, which will likely be between a 50% and 70% interest. HudBay thinks that if a deal is established with VMS in the near future, the project may be in production within 12 months. We think the copper production from VMS could replace, or even exceed, the future losses when the Trout Lake mine closes.