HudBay's 30-M dollars investment lifts Augusta

摘要

Augusta Resource (azc-t, azc-x) is 30 million dollars richer after HudBay Minerals (hbm-t, hbmff-o) picked up 11% of the company, providing Augusta with the funds it needs to keep advancing its Rosemont copper project near Tucson, Ariz. HudBay is buying 10.9 million Augusta units for 2.75 dollars apiece, with each unit comprising a share and half of a warrant exercisable at 3.90 dollars for 18 months. The purchase gives HudBay an 11% stake in Augusta, or 13.6% on a fully diluted basis. Augusta also granted HudBay the right to participate in future financings so as to maintain its percentage ownership, for two years.