Mining Weekly reported that HudBay Minerals Inc.’s (TSX:HBM) fourth-quarter profits dropped by nearly 80 percent year-over-year due to dwindling sales and lower metal prices.
As quoted in the market news:
Total revenue for the fourth quarter was $181-million, which was $73.3-million lower than the same period in 2011. This decrease was mainly owing to lower sales volumes compared with the fourth quarter of 2011, when the company drew down on unusually high copper concentrate inventory.
Nexus Gold Corp. (TSXV:NXS) is currently drilling on the Walker Ridge Gold Project in Nevada - a multiple target, Carlin-type gold exploration property. They have recently submitted an expanded Plan to increase the current 8 pad plan to 29 drill pads.
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