Buyback or BuyoutThe company just put a Buyback in place. I hope they start putting it to use or Canada is going to hand another gem over to some foreign wealth fund, out gobbling up all the natural resouces companis that they can get away with. Hudbay has a Sale price tag on it right now.
WINNIPEG, MANITOBA, Dec 12, 2007 (MARKET WIRE via COMTEX News Network) --
HudBay Minerals Inc. (TSX: HBM) ("HudBay" or the "Company") today announced its intention, subject to regulatory approval, to undertake a normal course issuer bid (the "Bid") through the facilities of the Toronto Stock Exchange (the "TSX"), and purchase up to 9,946,093 of its common shares, representing approximately 9.5% of its public float as of December 11, 2007.
Peter Jones, President & CEO said, "HudBay continues to deliver strong performance. The share buy back program reflects an effective means to return a portion of HudBay's cash to shareholders. HudBay also believes that the purchase of common shares will contribute to enhancing shareholder value. At the same time, we are evaluating organic growth opportunities and investment opportunities that support our balanced approach in driving value for shareholders."