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Hudbay extends offer for Rosemont Copper parent, Augusta Resources HudBay Minerals Inc. announced on Friday that it has extended its offer to acquire all of the outstanding shares of Augusta Resource Corporation until May 27, and raised questions about Rosemont Copper's ability to get a Section 404 Clean Water Permit from the Corps of Engineers.  [Right, land management map around Rosemont Copper mine area]

The Hudbay news release said,

Hudbay continues to monitor developments with respect to Augusta's applications for permits required for the Rosemont project. Hudbay is assessing, among other things, the potential implications of a letter dated May 13, 2014 that the U.S. Army Corps of Engineers (the "USACE") is reported to have sent to Augusta. The USACE letter advises Augusta that, in the context of its Clean Water Act section 404 permit application, Augusta's proposed compensatory mitigation is inadequate and USACE staff is changing its focus from compensatory mitigation to preparing a final permit decision.

Industry observers tell us that Hudbay is trying to put pressure on Augusta shareholders to sell or risk the company not getting the necessary permit or being delayed so long the company runs out of cash.
