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CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)

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Message: hudbay, copper mountain; 439 M
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Canadian miner Hudbay Minerals Inc said on Thursday that it would buy peer Copper Mountain Mining Corp in a $439 million all-share deal to boost its copper portfolio.

The combined company would create the third largest copper producer in Canada, Hudbay Minerals said, and added that the deal could unlock $30 million per year in operating efficiencies and corporate synergies.

Under terms of the deal, each Copper Mountain shareholder will receive 0.381 of a Hudbay common share for each Copper Mountain common share held.

The miners expect the deal to be completed late in the second quarter or in early third quarter of 2023.

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