Hudbay Minerals (TSE:HBM) has released an update.
Hudbay Minerals Inc. successfully completed an upsized public offering, raising approximately $402 million by issuing 42.4 million common shares at $9.50 each. The offering, including a full exercise of the underwriters’ over-allotment option, aims to fund growth initiatives and debt repayment to enhance the company’s financial flexibility. The raised capital is slated for various projects, including mine and mill optimization, with a focus on accelerating the Copper World project.
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