Augusta acquisition adds to Hudbay’s Q3 profit

Canadian base metals producer Hudbay Minerals has generated a profit of $49.2-million, or $0.22 a share, for the three months ended September 30, up from $3-million for the same period in 2013, boosted by gains related to the C$555-million acquisition of Augusta Resource Corp in July. Hudbay reported gains on the revaluation of previously owned shares in Augusta of $50.2-million and mark-to-market gains of $22 on revaluated Hudbay warrants paid to Augusta shareholders and the Augusta warrants that the company assumed in the acquisition.