WINNIPEG, MANITOBA, Feb 11, 2008 (Marketwire via COMTEX News Network)
--
HudBay Minerals Inc. (TSX:HBM) ("HudBay" or the "Company") today
announced planned release dates for its 2007 operating and financial
results and 2008 outlook and provided an update on the progress of the
Company's share buy back program.
2007 PRODUCTION RESULTS & 2008 OUTLOOK
HudBay
expects to issue a news release with its 2007 production results and
2008 outlook on February 15, 2008. Consistent with its 2007 practice,
the release is intended to provide timely information on 2007 operating
performance in advance of audited financial results being available in
mid-March.
2007 FINANCIAL RESULTS
Audited 2007 financial
results and complete details on HudBay's operating performance for the
year are scheduled for release on March 17, 2008. HudBay will host a
conference call and webcast to discuss the Company's 2007 results on
March 18, 2008. Details are as follows:
Date: March 18, 2008
Time: 10:00 am (Eastern Time)
Webcast: www.hudbayminerals.com
Dial in: 416-644-3414 or 800-733-7560
Replay: 416-640-1917 or 877-289-8525
Replay Passcode: 21262558#
The conference call replay will be available until midnight
(Eastern Time) on March 25, 2008. An archived audio webcast of the call
will also be available on HudBay's website.
NORMAL COURSE ISSUER BID
In
December 2007, HudBay launched a normal course issuer bid (the "Bid")
to purchase through the facilities of the Toronto Stock Exchange (the
"TSX"), up to 9,946,093 of its common shares, representing approximately
9.5% of its public float over a 12 month period ending December 16,
2008. The Company purchased 321,300 shares under the Bid for
approximately $6.2 million to December 31, 2007. A further 620,000
shares were purchased from January 1, 2008 to January 14, 2008 for
approximately $11.0 million.
Based on an expectation of releasing
2007 production results and its 2008 outlook in mid-February, HudBay
ceased purchasing shares on January 14, 2008 pursuant
to its insider trading policy (the "Policy"). HudBay is scheduled to
issue its 2007 audited financial results on March 17, 2008. The
associated Blackout Period is scheduled to end on March 18, 2008
following the release of the 2007 financial results. The Company intends
to continue to execute the Bid going forward in accordance with the
rules of the TSX and the Policy.
About HudBay Minerals Inc.
HudBay
Minerals Inc. is an integrated mining company that operates mines,
concentrators and a metal production complex in northern Manitoba and
Saskatchewan. The company also owns a zinc oxide production facility in
Ontario, the White Pine Copper Refinery in Michigan and the Balmat zinc
mine in New York state. HudBay is a member of the S&P/TSX Composite
Index and the S&P/TSX Global Mining Index.
Forward-looking Information
This
news release contains "forward-looking
information" within the meaning of applicable Canadian securities
legislation. Forward-looking information includes, but is not limited
to, information with respect to HudBay's normal course issuer bid.
Generally, forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects", or "does not
expect", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates", or "does not anticipate", or "believes" or
variations of such words and phrases or state that certain actions,
events or results "may", "could", "would", "might", "will", "will be
taken", "occur", or "be achieved". Forward-looking information is
subject to known and unknown risks, uncertainties and other factors that
may cause the actual results, level of activity, performance or
achievements of HudBay, to be materially different from those expressed
or
implied by such forward-looking information, including market
conditions, risks associated with the mining industry such as economics,
future commodity prices, results of exploration activities, government
regulation, environmental and reclamation risks, timely and cost
effective access to capital, conclusions of economic evaluations,
changes in project parameters as plans continue to be refined as well as
those factors discussed in the section entitled "Risk Factors" in
HudBay's Annual Information Form for the year ended December 31, 2006,
available on www.sedar.com.
Although HudBay has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such information will prove to be
accurate, as actual results and future events could differ materially
from those anticipated in such information. Accordingly, readers should
not place undue reliance on forward-looking information. HudBay does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
(HBM-G)
SOURCE: HudBay Minerals Inc.
HudBay Minerals Inc.
Brad Woods
Director, Investor Relations
(204) 949-4272
Email: brad.woods@hbms.ca
Website: www.hudbayminerals.com
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