COPPER: Production from Reed expected by year end

MANITOBA – Development work is coming along nicely at the Reed copper project 50 km southwest of Snow Lake. Owners Hudbay Minerals (70% and operator) and VMS Ventures (30%) are anticipating the start of production before the end of 2013.

VMS noted in a release that at the end of April the 5-metre ventilation shaft from surface is two-thirds complete. The permanent 1.6-MW generators and the electrical house were commissioned. A new communication system was installed. The fire fighting well pump was commissioned. Underground development totaled 534 metres.

On May 1, 2013, Hudbay reported that approximately $37 million of the $72 million capital construction budget for the project has been invested as of the end of the first quarter of 2013 with an additional $13 million committed as of that date.

Information about the Reed project is available at both VMSVentures.com and HudbayMinerals.com. The latter website has a time lapse video of work done at Reed.