Hudbay makes offer to buy Augusta Resource Corporation. Hudbay makes offer to buy Augusta Resource Corporation The Canadian Press By The Canadian Press | The Canadian P TORONTO - Mining company Hudbay Minerals Inc. (TSX:HBM.TO - News) says it's going to try to acquire all the common shares of Vancouver-based Augusta Resources Corporation that it doesn't already owned. A Hudbay news release says Augusta shareholders would receive 0.315 of a Hudbay common share for each Augusta common share held, representing approximately C$2.96 per Augusta common share. The Toronto company says the offer values Augusta at roughly $540 million on a fully diluted in-the-money basis. Hudbay says the addition of Augusta's Rosemont project will enhance Hudbay's position as a leading intermediate base metals mining company. Hudbay first invested in Augusta in 2010 and currently owns 23,058,585 shares . The company says it thinks the deal benefits Augusta shareholders because they'll get a stake in Hudbay. Augusta shareholders have until Mar. 19 to accept.