Augusta Resource Corp, the target of a hostile takeover bid by HudBay Minerals Inc , warned on Thursday of another delay in getting a permitting decision on whether it can develop its Rosemont copper project in Arizona. Augusta said the decision may be delayed until the third quarter after the U.S. Forest Service commented informally that it may not be in a position to make a final decision by the end of the second quarter.The delay comes as the forest agency weighs whether further consultation is necessary in part following the recent sighting of an ocelot near the proposed mine development area. Ocelots, also known as dwarf leopards, are listed as endangered by the U.S. Fish & Wildlife Service."While we are disappointed with any delay, our expectation is that these final issues will be handled in a timely, expeditious manner," Gil Clausen, Augusta's chief executive, said in a statement.Canadian miner HudBay, which already owns 16 percent of Augusta, in February launched a bid for the U.S.-based mining company to gain control of the Rosemont project. Augusta has rejected the approach.
Augusta Resource Corporation (Augusta) is engaged in the acquisition, exploration and development of natural mineral resource properties. Shares of AZC traded higher by 0.35% or $0.01/share to $2.84. In the past year, the shares have traded as low as $0.45 and as high as $3.29. On average, 172487 shares of AZC exchange hands on a given day and today's volume is recorded at 40758.
Augusta Resource Corporation (Augusta) is engaged in the acquisition, exploration and development of natural mineral resource properties. Shares of AZC traded higher by 1.62% or $0.05/share to $3.13. In the past year, the shares have traded as low as $0.48 and as high as $3.64. On average, 510815 shares of AZC.TO exchange hands on a given day and today's volume is recorded at 176896.
HudBay Minerals Inc. (HudBay) is an integrated mining company. Shares of HBM traded higher by 2.84% or $0.27/share to $9.78. In the past year, the shares have traded as low as $5.78 and as high as $9.51. On average, 36344 shares of HBM exchange hands on a given day and today's volume is recorded at 44081.
HudBay Minerals Inc. (HudBay) is an integrated mining company. Shares of HBM traded higher by 2.5% or $0.26/share to $10.64. In the past year, the shares have traded as low as $6.02 and as high as $10.46. On average, 519126 shares of HBM.TO exchange hands on a given day and today's volume is recorded at 1041149.
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