The Reminder is making its archives back to 2003 available on our website. Please note that, due to technical limitations, archive articles are presented without the usual formatting.
Despite losses of $183 million over the last two years, Hudbay shareholders have reaffirmed their faith in CEO David Garofalo. Each of the eight nominees listed in the company's recent management information circular was elected as a director at its annual and special meeting of shareholders held May 10. The number of votes cast by proxy for Garofalo totalled 110.64 million, which translated into a 97.46 per cent approval rating for the CEO. Tom Goodman, the former top Manitoba executive for Hudbay, earned slightly more votes at 110.66 million, or 97.48 per cent favourable. Also elected were Alan Hibben (91.57 million votes or 80.67 per cent); W. Warren Holmes (110.18 million votes or 97.06 per cent); John Knowles (107.52 million or 94.72 per cent); Alan Lenczner (107.57 million or 94.76 per cent); Kenneth G. Stowe (111.22 million, or 97.98 per cent); and G. Wesley Voorheis (107.47 million or 94.68 per cent). Hudbay hopes to reverse the significant losses of 2011 and 2012 by developing three new mines: Lalor and Reed in the Snow Lake area and Constancia in Peru. The company is hoping to find another major deposit closer to Flin Flon, but no announcements have been made to date.
