Hudbay Minerals Inc · TSX:HBM
Hudbay Minerals — 2019 Scotiabank Mining Conference
65 slides from Hudbay Minerals's conference presentation, November 2019
Slide 1: Investor Presentation
I N V E S T O R P R E S E N TAT I O N November 2019
Slide 2: Cautionary Information
CAUTIONARY INFORMATION This presentation contains forward-looking information within the meaning of applicable Canadian and United States securities legislation. All information contained in this presentation, other than statements of current and historical fact, is forward- looking information. Oft
Slide 3: Investment Rationale
INVESTMENT RATIONALE Overview • Consistent long-term growth strategy and world-class asset base South America Business Unit • Proven track record of successful project development Manitoba Business Unit • Operational excellence and value creation through successful Arizona exploration Business Unit
Slide 4: Consistent Strategy Since 2010
CONSISTENT STRATEGY SINCE 2010 VISION STATEMENT Overview • Our vision is to become a top-tier operator of long-life, low cost mines in the Americas South America Business Unit VALUE DRIVERS STRATEGIC CRITERIA Manitoba Business Unit Efficient Operations Long Life Arizona Business Unit Meaningful Low
Slide 5: Diversified Mid-Tier Copper Producer
DIVERSIFIED MID-TIER COPPER PRODUCER TSX, NYSE, BVL Symbol HBM Overview Market Capitalization1 C$1.3 billion South America Business Unit Shares Outstanding 261 million Manitoba MANITOBA Business Unit 777 Available Liquidity2 $0.82 billion Lalor 1901 Deposit Arizona Exploration NEVADA Business Unit D
Slide 6: Industry Leader in Responsible Mining
INDUSTRY LEADER IN RESPONSIBLE MINING • Consistently recognized for strong community engagement in Peru and productive Overview local working relationships South America 1ST PLACE AWARD FOR COMMUNITY RELATIONS Business Unit Third Community Relations International Conference at the OPERATING IN MANIT
Slide 7: Long Life & Low Cash Costs
LONG LIFE & LOW CASH COSTS C1 CASH COSTS6 (US$/lb Cu) • Long life assets provide exposure to multiple $3.00 Overview commodity price cycles Capstone Antofagasta $2.00 Oz Minerals • Hudbay is positioned in the first quartile of the $1.00 Hudbay First Turquoise Imperial South America Business Unit cas
Slide 8: Copper Focus
COPPER FOCUS COPPER METAL MARKET BALANCE2 • Emerging copper market deficits are expected to kt US$/lb occur imminently and continue for the next 5-7 years 2,000 Balance (LHS) Copper Price $4.00 Overview ~2.8Mt copper deficit • Base case mine production peaks in 2023 according 1,500 over the next 7 y
Slide 9: Scarcity of Copper Assets
SCARCITY OF COPPER ASSETS • There are very few undeveloped copper projects of scale in Hudbay’s preferred jurisdictions • Hudbay owns 2 of the top 20 greenfield projects in Rosemont and Ann Mason Overview • Many of the remaining projects have material impediments to development (i.e. technical, perm
Slide 10: Meaningful Scale & Growth
MEANINGFUL SCALE & GROWTH TOP INVESTIBLE COPPER PRODUCER WITH MEANINGFUL GOLD EXPOSURE • Hudbay is one of the top 2019E TOP GLOBAL INVESTIBLE COPPER PRODUCERS3 Overview 1.2Mt investible1 pure play2 copper 0.8 Copper Production (Mt) South America producers, offering investors 0.6 Business Unit releva
Slide 11: Recent Achievements
RECENT ACHIEVEMENTS OPERATIONAL AND GROWTH INITIATIVES Overview ✓ Utilized technology and process improvements to drive additional efficiencies in our operations OPERATIONAL ✓ were within 2018 guidance ranges South America 1 Business Unit Consolidated copper production exceeded 2018 guidance by 14%
Slide 12: Strong EBITDA, Cash Flow & Debt Reduction
STRONG EBITDA, CASH FLOW & DEBT REDUCTION • Generated significant EBITDA and positive free cash flow during the volatile copper price environment over the last several years due to un-hedged production and stable low-cost Overview operations South America • Reduced net debt position by over $650 mil
Slide 13: Industry Leading Free Cash Flow Yield
INDUSTRY LEADING FREE CASH FLOW YIELD • In 2018, Hudbay generated the highest free cash flow yield across peers • Since 2016, Hudbay’s cumulative cash flow generation represents an annual 14% yield Overview FREE CASH FLOW GENERATION AND YIELD – HUDBAY AND PEERS1 South America Business Unit Cumulativ
Slide 14: Industry Leading Production Growth Per Share
INDUSTRY LEADING PRODUCTION GROWTH PER SHARE • Hudbay’s copper-equivalent production per share increased by 127% from 2014 to 2018, significantly higher than the peer average of -1% Overview 5-YEAR COPPER EQUIVALENT PRODUCTION GROWTH PER SHARE (2014-2018) – HUDBAY AND PEERS1 South America Business U
Slide 15: South America Business Unit
SOUTH AMERICA BUSINESS UNIT MINE TOWN Cusco RAILROAD CUSCO Overview ROAD South America Business Unit Las Bambas Manitoba CONSTANCIA Business Unit PERU Yauri Arizona Tintaya Business Unit Antapaccay Exploration Lima Project Pipeline AREQUIPA Imata CONSTANCIA Investment Rationale Arequipa Appendix Cer
Slide 16: Best in Class Mine Development
BEST IN CLASS MINE DEVELOPMENT • Constancia’s capital cost performance was best in-class compared to other greenfield open pit copper mines in the Americas and the same leadership team intends to develop Overview Rosemont into an operating mine South America LEADING CAPITAL COST CONTROL VS. COMPARAB
Slide 17: Industry Leading Cost Performance
INDUSTRY LEADING COST PERFORMANCE CONSTANCIA IS THE LOWEST COST SULPHIDE COPPER MINE IN SOUTH AMERICA Overview • Continuous operational improvements at Constancia have driven costs down, while increasing efficiencies and productivity South America Business Unit LOWEST COST OPEN PIT COPPER MINES IN S
Slide 18: Constancia Optimization
CONSTANCIA OPTIMIZATION SEEING RESULTS FROM CONTINUOUS OPTIMIZATION INITIATIVES Overview • Increasing throughput and quarterly trend in copper recoveries • Continued integration of an automated, advance process control system South America Business Unit • Flotation improvements – optimizing water re
Slide 19: Constancia Regional Potential
CONSTANCIA REGIONAL POTENTIAL • Since 2012, executed over 90 social MINERAL PROPERTIES WITHIN TRUCKING DISTANCE OF agreements with local governments CONSTANCIA PROCESSING FACILITY Overview and communities, maintaining our social license to operate 0 5,000 10,000 South America • Pampacancha land acce
Slide 20: Manitoba Business Unit
MANITOBA BUSINESS UNIT New Britannia Gold Mill 1,500 tpd capacity Overview Snow Lake South America Business Unit Stall Base Metal Mill 3,800 tpd capacity LALOR MINE Manitoba ~4,500 tpd Business Unit Arizona 777 LALOR Business Unit 0 5km Exploration SASKATCHEWAN MANITOBA Project Pipeline Investment W
Slide 21: Lalor In-House Discovery & Development
LALOR IN-HOUSE DISCOVERY & DEVELOPMENT 2007 2009 2012-2014 2015 DISCOVERY DEVELOPMENT INITIAL PRODUCTION NEW BRITANNIA MILL Overview • Initial discovery hole drilled • Construction commenced on • Phase 1 completed in 2012; • Acquired the nearby New Phase 1 ramp access from Phase 2 completed in 2014
Slide 22: Lalor Becomes a Meaningful Low-Cost Gold Mine
LALOR BECOMES A MEANINGFUL LOW-COST GOLD MINE • Lalor is well positioned with expected future production of 140,000 oz Au p.a. at sustaining cash costs of $450/oz starting in 2022 GOLD PRODUCTION1 (K OZ) 697 Overview 621 376 344 342 276 259 249 240 227 205 180 171 163 152 141 126 121 111 106 96 91 7
Slide 23: Snow Lake Reserves and Resources
SNOW LAKE RESERVES AND RESOURCES • Over 4 million tonnes of indicated and 13 million tonnes of inferred material within trucking distance of Stall and New Britannia could provide additional mill feed Overview RESERVES AND RESOURCES IN THE SNOW LAKE CAMP (M TONNES AND M OZS) South America Business Un
Slide 24: Snow Lake Mine Life Extension - Lalor
SNOW LAKE MINE LIFE EXTENSION - LALOR HIGH RESOURCE-TO-RESERVE CONVERSION POTENTIAL • Proven and probable reserves mine plan provides 10-year mine life Overview • Inferred resources estimation methodology expected to lead to higher resource to South America reserve conversion factor, providing poten
Slide 25: Snow Lake Leveraging Existing Infrastructure
SNOW LAKE LEVERAGING EXISTING INFRASTRUCTURE • Future spare capacity at both the Stall and New Britannia mills creates opportunity to process tonnes from nearby satellites and in-mine exploration Overview LALOR BASE METAL ORE1 (TONNES PER DAY) South America Business Unit 5,000 Excess ore processed i
Slide 26: Snow Lake Regional Potential
SNOW LAKE REGIONAL POTENTIAL HUDBAY HAS A LARGE PROSPECTIVE LAND PACKAGE IN THE SNOW LAKE BELT WITH SIGNIFICANT GOLD EXPLORATION POTENTIAL Overview PROVEN & PROBABLE RESERVES Contained Gold Contained Gold Eq1 (koz) (koz) South America Business Unit Lalor- Base Metal Zone 1020 2533 Lalor – Cu/Au Zone
Slide 27: Snow Lake Regional Potential - 1901 Deposit
SNOW LAKE REGIONAL POTENTIAL - 1901 DEPOSIT POTENTIAL FOR INCREMENTAL PRODUCTION IN SNOW LAKE Overview • Located near existing infrastructure and is 100% owned by Hudbay South America • Initial resource estimate 6 months from discovery Business Unit in February 2019 Manitoba • Mineralization interpr
Slide 28: Snow Lake Regional Potential - 1901 Deposit
SNOW LAKE REGIONAL POTENTIAL - 1901 DEPOSIT SIGNIFICANT GOLD MINERALIZATION NOT YET IN RESOURCE ESTIMATE Overview • Drilling in the 1901 deposit has also identified several high-grade gold and South America Business Unit copper-gold zones Manitoba Business Unit • Drilling density not yet at a level
Slide 29: 1901 Deposit Comparable to Regional Discoveries
1901 DEPOSIT COMPARABLE TO REGIONAL DISCOVERIES • The initial inferred resource estimate for the 1901 deposit would, if fully converted, rank within top 10 largest deposits in Flin Flon and Snow Lake based on initial reserve size Overview RESERVES IN THE FLIN FLON AND SNOW LAKE CAMP (MILLION TONNES)
Slide 30: Arizona Business Unit
ARIZONA BUSINESS UNIT Overview Miami Pinto Valley South America Phoenix Business Unit Resolution ARIZONA, US Ray Morenci Manitoba Business Unit Florence Safford Arizona Business Unit Exploration Silver Bell Project Pipeline Phoenix Tucson Investment Tucson Gunnison Rationale Mission Sierrita Appendi
Slide 31: Rosemont Project
ROSEMONT PROJECT HIGH-QUALITY PROJECT WITH WELL-ESTABLISHED INFRASTRUCTURE • 19-year mine life generating 15.5% after-tax unlevered project IRR at Location Tucson, Arizona Overview $3.00/lb Cu Copper-molybdenum • Years 1-10 avg. annual production of 127,000 metric tonnes Cu at a cash Type of deposit
Slide 32: Rosemont Positioning
ROSEMONT POSITIONING ROSEMONT ECONOMICS1 • Strong project returns at $3.00/lb Cu and After-Tax NPV8% (US$M) Unlevered IRR (%) Overview significant leverage to the copper price $1,448 • Further upside to base case returns due to $1,115 21.2% South America Business Unit ongoing project optimization an
Slide 33: Rosemont Project History
ROSEMONT PROJECT HISTORY 2007 & 2008 2009 2010 2011 2012 2013 Mine Plan of Operations filed Arizona State Mine Inspector, Mine Safety and Health EPA Hazardous Waste ADEQ Aquifer Protection ADEQ Class II Air Permit Overview with U.S. Forest Service (July Arizona Mined Land Administration Number Ident
Slide 34: Exploration Focus
EXPLORATION FOCUS • Hudbay significantly increased its owned or optioned mineral properties in the last few years CANADA PERU Overview LAND LAND PROPERTY OWNERSHIP SURFACE PROPERTY OWNERSHIP SURFACE (HA) (HA) South America MANITOBA / SASKATCHEWAN Llaguen Optioned 8,900 Business Unit Goose Lake 100%
Slide 35: Successfully Adding Value Through Exploration
SUCCESSFULLY ADDING VALUE THROUGH EXPLORATION WIM, Pen II, CONSTANCIA (2009-2019)1 Caballito, Kusiorcco LALOR (2010-2019)1 New Britannia & 1901 Deposit & Maria Reyna Production Reserves Production Reserves Copper Equivalent (Mt) Copper Equivalent (Mt) Overview 4.0 1.0 3.0 0.8 South America Business
Slide 36: Project Pipeline
PROJECT PIPELINE HUDBAY HAS BUILT A DIVERSIFIED PORTFLIO Overview • Through robust exploration and disciplined M&A, Hudbay has built a diversified portfolio of operating mines and an extensive development pipeline South America Business Unit Manitoba Business Unit Production Constancia Lalor 777 Acq
Slide 37: Near-Term Catalysts
NEAR-TERM CATALYSTS NUMEROUS ORGANIC GROWTH OPPORTUNITIES EXIST Overview Upgrading Lalor inferred resources to reserves Q1 2020 Inferred resource estimate for Lens 17 at Lalor Q1 2020 South America Upgrading WIM, Pen II and New Britannia resources to reserves Q1 2020 Business Unit MANITOBA Initial i
Slide 38: Appendix
PENDIX J 4BM TMX # Nyse LEU) Ub A’ N
Slide 39: Per Share Accretion
PER SHARE ACCRETION • Focused on NAV per share and reserve and resource per share accretion Overview HUDBAY RESERVE GROWTH PER SHARE1 HUDBAY RESOURCE GROWTH PER SHARE1 South America Business Unit Manitoba Peru Arizona Other Manitoba Peru Arizona Nevada Other 150.0 Manitoba 60.0 Business Unit Copper
Slide 40: Constancia Mine
CONSTANCIA MINE LOW-COST, LONG-LIFE COPPER MINE IN PERU • Began production at end of 2014 Location Chumbivilcas, Peru Overview • Developed and maintain meaningful partnerships with Ownership 100% South America the local communities Type of deposit Porphyry copper- Business Unit molybdenum deposit •
Slide 41: Constancia Mine Plan Summary
CONSTANCIA MINE PLAN SUMMARY MINE PLAN SUMMARY Technical report projections shown here assume mining at Pampacancha begins in Q4 2019, whereas mining is not expected to begin until 2020 2019E 2020E 2021E 2022E 2023-2036E LOM Avg.1 Overview Ore mined million tonnes 37.7 34.0 27.6 28.6 28.8 30.8 Waste
Slide 42: Maria Reyna Historical Drill Results
MARIA REYNA HISTORICAL DRILL RESULTS A summary of the historical drill results from Maria Reyna is contained in the table below, however a qualified person has not independently verified this historical data or the quality assurance and quality control program that was applied during the execution o
Slide 43: Manitoba Flow Chart - 2019
MANITOBA FLOW CHART - 2019 TWO MINES FEEDING TWO OPERATING MILLS AND ZINC PLANT ORE CONCENTRATE/METAL Overview ~4,000 tpd South America Business Unit Flin Flon Mill Copper ~3,000 tpd Concentrate Manitoba (6,000 tpd capacity) Business Unit 777 Mine Zinc ~3,500 tpd Concentrate Arizona Business Unit St
Slide 44: Manitoba Flow Chart - 2023
MANITOBA FLOW CHART - 2023 ONE MINE FEEDING TWO OPERATING MILLS ORE CONCENTRATE/METAL Overview Care & Maintenance South America Business Unit Flin Flon Mill Copper Reserve Exhausted Concentrate Manitoba (6,000 tpd capacity) Business Unit 777 Mine Zinc ~3,400 tpd Concentrate Closed2 Arizona Business
Slide 45: Manitoba Optimization
MANITOBA OPTIMIZATION BENEFITS OF IMPROVEMENT INITIATIVES Overview • Continued high tonnage out of 777 due to implementation of management systems • Combined unit costs stabilizing at a lower level following the ramp-up of Lalor South America Business Unit in H1 2019 Manitoba 777 ORE AND MINING UNIT
Slide 46: Lalor Mine
LALOR MINE PRODUCING LOW-COST GOLD-ZINC MINE WITH SIGNIFICANT UPSIDE POTENTIAL • Strong ramp-up of ore production; expanded 4,500tpd mine plan Overview • New mine plan more than doubles annual gold production with South America the refurbishment of New Britannia gold mill Business Unit Location Snow
Slide 47: Lalor Mine Plan Summary
LALOR MINE PLAN SUMMARY MINE PLAN SUMMARY 2019E 2020E 2021E 2022E 2023E 2024E 2025E 2026E LOM Total1 BASE METAL ORE Overview Ore mined 000 tonnes 1,589 1,481 1,559 1,135 1,251 1,144 894 612 10,844 Ore mined tpd 4,353 4,057 4,271 3,110 3,428 3,134 2,449 1,677 - South America Business Unit Zinc grade
Slide 48: Lalor Mine Plan Summary (Cont'd)
LALOR MINE PLAN SUMMARY (CONT’D) PRODUCTION AND CAPEX SUMMARY 2019E 2020E 2021E 2022E 2023E 2024E 2025E 2026E LOM Total1 Overview PRODUCTION2 Zinc 000 tonnes 79 88 89 63 70 64 32 18 552 South America Business Unit Copper 000 tonnes 8 8 9 10 10 15 11 4 83 Gold 000 ounces 69 58 75 143 137 138 172 114
Slide 49: Lalor Mine Plan Summary (Cont'd)
LALOR MINE PLAN SUMMARY (CONT’D) CASH COSTS SUMMARY 2019E 2020E 2021E 2022E 2023E 2024E 2025E 2026E LOM Avg.1 Overview ZINC BASIS Cash Costs US$/lb $0.61 $0.73 $0.55 ($0.05) $0.03 ($0.18) ($1.21) ($0.87) $0.09 South America Sustaining Cash Costs US$/lb $1.04 $1.14 $0.78 $0.26 $0.22 ($0.04) ($0.95) (
Slide 50: Lalor In-Mine Exploration
LALOR IN-MINE EXPLORATION LENS 17 CU-AU RICH LENS NOT IN CURRENT RESOURCE ESTIMATES • Lens 17 is Cu-Au rich analog to Lens 27 identified based on 7 surface holes. 2019 drilling: Overview • Phase 1 to confirm upper portion in Q2 2019 South America • Phase 2: Potential connection to Lens 10 (Zn rich)
Slide 51: 777 Mine
777 MINE STEADY, LOW-COST PRODUCTION • Maximizing cash flow to end of mine life Overview • Plan to keep processing assets on care and maintenance South America after mine closure to maintain regional optionality Business Unit Location Flin Flon, Manitoba Manitoba Ownership 100% Business Unit Type of
Slide 52: Rosemont Mine Plan Summary
ROSEMONT MINE PLAN SUMMARY MINE PLAN SUMMARY Units Year 1- 10 Avg. Year 11- 19 Avg. LOM Avg. / Total Overview Total material moved1 million tons 132 47 1,747 Strip ratio waste:ore 2.5 1.0 2.0 Ore milled million tons 32 30 592 South America Business Unit Copper grade milled2 % Cu 0.53% 0.35% 0.45% Co
Slide 53: Ann Mason Project
ANN MASON PROJECT ANN MASON – NEVADA, USA • Hudbay acquired the Ann Mason property in December 2018 Overview • Ann Mason is located approximately 85km southeast Elko South America of Reno, Nevada in the prolific Yerington Copper Reno Business Unit District Ann Mason • Close to the former producing Y
Slide 54: 2019 Guidance
2019 GUIDANCE PRODUCTION AND UNIT COST Overview CONTAINED METAL IN CONCENTRATE1 2019 GUIDANCE 2018 ACTUAL 2018 GUIDANCE MANITOBA2 South America Copper tonnes 22,000 – 25,000 32,372 27,500 – 32,500 Business Unit Zinc tonnes 100,000 – 115,000 115,588 105,000 – 130,000 Manitoba Precious Metals3 ounces
Slide 55: 2019 Guidance
2019 GUIDANCE CAPITAL EXPENDITURES1 $ MILLIONS 2019 GUIDANCE YEAR ENDED DEC. 31, 2018 2018 GUIDANCE SUSTAINING CAPITAL Overview Manitoba 100 104 85 South America Peru2 95 40 50 Business Unit TOTAL SUSTAINING CAPITAL 195 144 135 GROWTH CAPITAL Manitoba Manitoba 10 18 20 Business Unit Peru 45 2 -3 Ari
Slide 56: Peru Mineral Reserves
PERU MINERAL RESERVES AS AT JANUARY 1, 2019 Overview CATEGORY TONNES Cu (%) Mo (g/t) Ag (g/t) Au (g/t) South America Business Unit CONSTANCIA Proven 421,800,000 0.30 94 2.87 0.035 Manitoba Business Unit Probable 72,000,000 0.23 72 3.06 0.035 Arizona Business Unit Total Proven and Probable 493,800,00
Slide 57: Peru Mineral Resources
PERU MINERAL RESOURCES AS AT JANUARY 1, 2019 Overview CATEGORY TONNES Cu (%) Mo (g/t) Ag (g/t) Au (g/t) South America CONSTANCIA Business Unit Measured 169,400,000 0.18 50 2.19 0.028 Manitoba Business Unit Indicated 180,500,000 0.20 56 2.16 0.034 Inferred 50,800,000 0.24 43 2.41 0.046 Arizona Busine
Slide 58: Snow Lake Reserves & Resources
SNOW LAKE RESERVES & RESOURCES AS AT JANUARY 1, 20191 Overview PROPERTY CATEGORY TONNES Cu (%) Zn (%) Au (g/t) Ag (g/t) South America Proven 5,137,000 0.76 7.13 2.37 26.31 Business Unit Base Metal Zone Probable 5,552,000 0.44 4.19 3.52 27.39 Manitoba Proven 58,000 0.80 2.65 5.46 39.09 Gold Zone Busi
Slide 59: Flin Flon Reserves & Resources
FLIN FLON RESERVES & RESOURCES AS AT JANUARY 1, 2019 Overview PROPERTY CATEGORY TONNES Cu (%) Zn (%) Au (g/t) Ag (g/t) South America Proven 2,169,000 1.80 4.44 1.77 26.45 Business Unit 777 Reserves Probable 1,384,000 0.97 3.75 2.03 21.65 Manitoba Total 777 Mineral Reserve 3,552,000 1.48 4.17 1.87 24
Slide 60: Rosemont Reserves & Resources
ROSEMONT RESERVES & RESOURCES AS AT JANUARY 1, 2019 Overview MINERAL RESERVES1 CATEGORY TONNES Cu (%) Mo (%) Ag (g/t) South America Business Unit Proven 426,100,000 0.48 0.012 4.96 Probable 111,000,000 0.31 0.010 3.09 Manitoba Business Unit Total 2P Reserves 537,100,000 0.45 0.012 4.58 Arizona MINER
Slide 61: Ann Mason Reserves & Resources
ANN MASON RESERVES & RESOURCES AS AT MARCH 3, 2017 Overview PROJECT RESOURCE ESTIMATES South America CATEGORY TONNES Cu (%) Au (g/t) Ag (g/t) Mo (%) Business Unit Measured & Indicated 1,400,000,000 0.32 0.03 0.65 0.006 Manitoba Inferred 623,000,000 0.29 0.03 0.66 0.007 Business Unit Arizona Business
Slide 62: Additional Information
ADDITIONAL INFORMATION The reserve and resource estimates included in this presentation were prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and the Canadian Institute of Mining, Metallurgy and Petroleum Standards Overview on Minera
Slide 63: Additional Information – Lens 17
ADDITIONAL INFORMATION – LENS 17 DRILL RESULTS Hole ID From (m) To (m) Intercept (m) Depth (m) Estimated true width (m)1 Cu (%)2 Au (g/t)2 Overview 189W01 1197.0 1205.0 8.0 1154 7.1 0.1 9.3 193W01 1041.2 1046.5 5.4 1028 4.1 1.1 2.8 South America 267W01 1120.8 1127.2 6.3 1098 4.5 2.7 11.3 Business Un
Slide 64: Additional Information – Zone 1901
ADDITIONAL INFORMATION – ZONE 1901 SUPPLEMENTAL INFORMATION TO THE ZONE 1901 DRILL RESULTS From (m) To (m) Azimuth at Dip at Overview Hole ID Easting Northing Elevation Easting Northing Elevation Intercept Intercept CH1916 427067 6078909 -270 427068 6078909 -278 087 -85 South America CH1918 427094 6
Slide 65: For More Information Contact:
For More Information Contact: Candace Brûlé, Director, Investor Relations 416.814.4387 | candace.brule@hudbay.com