Hudbay Minerals Inc. has filed an early warning report regarding its holdings in Panoro Minerals Ltd., after its ownership stake fell below 10 percent due to an increase in Panoro's outstanding shares. Hudbay holds 30,823,849 common shares, representing approximately 9.97 percent of Panoro's 309,215,351 issued and outstanding shares as of August 24, 2026, down from about 10.01 percent on May 27, 2026. The decrease occurred solely because Panoro issued additional shares, and Hudbay did not sell any shares. As a result, Hudbay is no longer a reporting insider of Panoro under Canadian securities laws, but it retains pre-emptive rights to maintain its ownership if Panoro issues new equity, as long as Hudbay holds at least 5 percent of the outstanding shares.
Hudbay Minerals Inc.Hudbay's Panoro stake fell below 10% solely due to Panoro issuing more shares, not any Hudbay action; no clear positive or negative driver.
