HudBay Minerals is making a hostile bid for Augusta Resources, offering $3.05 a share, which values Augusta at close to $443 million.
Augusta traded as low at $1.30 or so in January of this year (it was just a measly 63 cents in November 2013).
Its all-time high was $6.69 in August 2008.
Augusta is a base metals company focused on advancing the Rosemont Copper deposit near Tucson, Arizona. Rosemont hosts a large copper/molybdenum reserve that would account for about 10% of U.S. copper output once in production (for details refer to www.augustaresource.com).
Stockhouse has the story:
http://www.stockhouse.com/news/newswire/2014/05/05/hudbay-minerals-t-hbm-extends-hostile-offer-for-augusta-resource