morning, Thank everyone, you Candace. us. thank Good you, joining for and
growth executive role progressing Eugene Hudbay team into place have through while I'd jump XX-year global Officer. a disciplined With I and CFO remaining to mining and Financial Eugene capital XX-years and quarterly into He the of the COO we allocation. Vice of exciting seamless. role, role committed strategy highly to Before execute been responsibilities we has corporate right and and experience, President Chief in development the finance transition our to in leadership is André banking, the with and industry. investment was like number deleveraging continue Lee, dynamics the senior CFO to believe has results, his recently congratulate who and Senior regarded a and over roles appointed Eugene history within increasingly has
to Now depart the the Eugene's announcement with our Eugene period us input assumption decline going I'm With key to margins traditional resulting higher in of and in allocation prices from have has to Lauzon, our themes. a both of in with conjunction commitment some deleveraging being in talk disciplined André significantly presented of copper of XXXX and and mind, our prices, COO, CFO role, capital industry reduced. and
operations of we the While this cost benefits characterize closure quartile to speak Manitoba consolidated beginning cash on third the me quarterly being steps the on our Hudbay I'd But X. curve, period of focus as results costs in of be mine first, performance June our will a of transition taken the touch to a our positioned we've in to our cash the XXX Peru results Slide period and and let operations flow, from our cash in quarter planned our environment. in continues navigate strong global first after XXXX. on challenging
production guidance the consolidated of Lake capital Manitoba, of cash reaffirmed significantly in sustaining quarter due accretion result primarily the copper zinc administrative working lower Consolidated lower decommissioning pound production cash closure per was production capital Consolidated Snow and agreements. offset measures This of the our lower quarter in Our costs quarter are X% to primarily Consolidated gold royalties. a one-off quarter, for copper sustaining lower XXX, closure XXX's lower all was prior of in per higher Lake community Peru. the year second decrease We closure all higher grades to in in XX.Xk quarter. second This the are Peru, during but XX.Xk corporate guidance of tracking inflationary to third to slightly but than XXXX consolidated to reaffirming on pressures to and change XXXX to flow metals. the Both due all-in $X.XX slight in sales due and sustaining offset a to decrease Peru. costs mine freight the cash copper the from $X.XX cash partially costs $X.XX guidance by at to on-site copper and copper the closure prior costs of due quarter. compared with quarter. offset quarter. amortization in quarter increase in expenses X% XXX. was second per lower partially sustaining well and reflecting offset volumes, gold $X.XX compared in respect Consolidated interruptions our quarter Snow and lower cost the in decrease for was to increased cash the in million expenditures, pound. a we copper $XX $X.XX grades and XXX third and production were decreased costs This metals higher a quarter third noncash partially before pound $X.XX from the cost recoveries during $X.XX of tonnes and from was to production quarter due consolidated Peru, decrease fourth to of X.Xk and treatment and operating with Operating in third prices ounces, on-site by higher partially by was costs. $X.XX selling guidance Lalor production second and full per was tonnes, anticipate the higher Consolidated grades higher refining and improvement in cash $X.XX ranges, the realized significant pound higher stronger and cash costs of the higher have charges, in the by the $X.XX costs result in lower production zinc
liability, the Third other per after gain revaluation gain adjusted prepayment among provision a net revaluation was $X.XX to gold quarter environmental the of for loss a related noncash adjusting share items. the and on
in $XXX as a a $XXX $XXX quarter million to quarter $XX prior EBITDA cash, $XX result the availability Third well increase of quarter's million facilities. during This same revolving credit exited was the of an discussed. our under as nearly as flow million, affecting was as of cash adjusted the quarter the factors undrawn million. decrease compared million with We
X. to Turning Slide
copper quarter. copper, higher from tonnes grades. gold, quarter, higher Peru lower slightly primarily benefited while partially of was Production molybdenum silver XXX maintenance Our of copper due of grades gold the of offset to was approximately and silver recoveries, program lower throughput second produced XXX,XXX than and planned of molybdenum. molybdenum higher XX,XXX mill and ounces and a third precious metal semiannual operations by production tonnes to XX,XXX during lower the due ounces of We
to We continue successive seen with this And the have disclosed, as that of Peru. production year quarterly benefit the increases significantly expect quarter grades fourth we into higher from in in previously Pampacancha. trend
mill mill copper the unchanged maintenance quarter Total remains the to quarter As with for of Constancia. track metals The guidance Constancia despite XXXX. second to from the quarter-over-quarter quarter-over-quarter grades such, all performed during full from due all achieve of to from nearly mined well better-than-planned higher due Milled amounts on production ranges ore grades third increased year planned increased shutdown. ore mine Pampacancha.
X% fuel, to mill advance originally shutdown were a November the were due XXXX. inflationary Third in expects to quarter and activities XXXX Constancia Peru on second planned to quarter energy combined at in continued consumables unit four-day than maintenance Hudbay quarter, higher pressures costs operating of that the for costs. primarily complete first
from be mill result the the are in costs guidance cost $X.XX cash Copper top Peru and a by-product the cash full additional continue and per in pressures was primarily by to costs quarter Peru's year copper cost near in fourth inflationary precious metal credits. quarter copper As and byproduct production. operating fourth production with to This copper. expected to second pound ongoing the higher of are improvement expected the of of maintenance to higher decline quarter, the due XXXX higher end declined anticipated the quarter X% third in credits unit over to contributions range.
of to slightly are cost to by X%, sustaining royalties. and the upper to XXXX factors second declined year guidance higher cost quarter, affecting offset the Peru's capital However, to inflationary exceed in cash the mainly same sustaining range environment. expected X% costs cash Peru approximately expenditures compared the due full by costs, primarily by end cash the due
Moving X. to Slide
operations. will our Manitoba We discuss
on of the focus quarter, us approximately support as and X,XXX during operations in on the closure. zinc, tons our use tonnes production with the Snow produced was metals Lake of Lalor's quarter. will early third plant During tonnes than was production Manitoba of underground Scooptram an the saw the Britannia. This to Lalor's zinc year, ore Britannia. almost power in gold, contractors. long-term the the Manitoba continued during Flon, for gold following transition Manitoba to reserves Flon X,XXX over into transition track production operations equipment two-day a final value substantially due Full impacted employees guidance that key of throughput Lalor second out care at and increases to ounces placed higher metals ultimately allow gold priority the New in This the outage in of with the a August. outage, decommissioned Snow quarter equipment both resumed improvement. third XX,XXX XX,XXX quarter, quarter-over-quarter of of lower was was XXXX. XXX,XXX this ounces day of copper After most Closure quarterly all due of and Flin maintenance Stall area higher-value in well steady primarily and successive from the for during as the third XXX maintain We all the achieve the Lake Once New quarter of to fire Production as and grades the the placed were activities away integration mill trend recoveries Flon years was X% was an gold was is early the operations by increased employees Flin at quarter. production Flon the gold depleted was The power XXXX. quarter in June ore including Lake Flin the and mine ranges Snow of mining in XX of to and safely copper completed activities Flin and ramp-up to hydro production per XXX to the and on to year silver.
by to return were at impacting copper interruptions to lower per to production expected and per operations. pre-winter the quarter. from up and quarter X% match end Britannia is consistent the mined and levels. and other quarter program compared production Mills fourth processed maintenance tonnes respectively, track X% is the surface day on X,XXX maintenance Mined day and and the Lalor. ore third gold, scheduled ramp grades due the at in with noted now the the per quarter, tonnes XXXX. a completed Ore mill were of to in decreased transition Lalor targeted Metal have higher, Snow Lalor for metallurgical ore to activities. the into the ore at replace New to feed X,XXX approximately ore third zinc the recoveries Lalor's production the to achieved was XX%, stabilized beginning to in All consistent addition, early second third day. The recoveries in XX% grades X,XXX near The tonnes the quarter model averaging fourth the delivered. quarter of quarter-over-quarter complete In Lake head shoots
at Cash consumption were significantly structure reducing Manitoba contractor to expect quarter continued operating recoveries copper to Unit higher than we require the These are the combined full to tonnage to track of well to initiatives improve pressures, increase higher reagents and year on transition increased in the the in Additional further with largest expenditures the quarter, inflationary by production partially higher as pressures the $XXX and the to but inflationary byproduct stand-alone operating due as total has ounce during by continue decline cost exceed due the to credits become to per quarter for initiatives New be by in revenue. continues per quarter, revenue contributed impacted transition Manitoba the offset we range. approximately year. higher and we guidance that cost continued to $XXX treatment as full upcoming closure XXX of advanced second period, grades. minimal Gold to will costs And expected primarily the the zinc and were plant. Year-to-date the below concentrate continues range media and Costs the higher guidance and lower costs will lower also and unit range cost costs unit in on-site contributor interruptions. second were also refining refining to costs cash and ounce impacted gold focus the upper lower cost of Britannia guidance combined of Lalor. than zinc costs due the fourth to charges, with compared by costs quarters and end X%. the planned. metal Manitoba capital second gold grinding cash operating costs cost XXXX improvement overall reiterate a such,
leach Quality, at World bulk and trade-offs current activities to evaluating in Pre-feasibility include Slide we upside investigation concentrate local and will Permit the sampling layout discussed September. plant permits the engineering requires complete with expected Copper hydrogeological and application submitted published pre-feasibility conversion to It in mineral the processing also as the of the on and optimize in be World first state-level an Air resources for permitting Department the test submitted and to to Our is XXXX addition study metallurgical sequencing and state Aquifer and XXXX. pre-feasibility X. geotechnical to focus known completed the of the of an Permit study level pre-feasibility of opportunities. completion And including project timing, The process We The Quality Environmental is to Phase the for have on is remaining October, Arizona in the and derisk expected in other ADEQ ADEQ. site application of as track be program the the X. Protection facilities, end half through activities measured technology, in XX% of inferred activities, results to been the XXXX engineering, before are design to Copper indicated. completed.
mid-XXXX. to expect these We state permits receive two remaining by
in project Phase state The for continue West effectiveness derisk the expects July received Upon in to Land near pits. other permit, the conduct strategies X, receipt Plan Mined surface the great areas testing Hudbay a cutoff bulk state continuity, variable the was to to of key XXXX. Reclamation program and permits sampling metallurgical and of by Peach-Elgin high-grade
World is light We has feasibility have revisited but nothing definitive of project for a our World note Copper to it important the price with environment, changed view study of current efforts over developed timing the will to in that medium XX the And is value that in to this project respect Copper to robust, the derisk definitive stage. next add and project copper for the be term. months our only prepare high-quality will the feasibility it XX to that a
permitting advance agreement to and process in activities surveys large-scale We over and are rights was exploration in X. after indicate Constancia Maria geophysical exploration facility, for future. area located Maria Caballito. at completed exploration completed, Slide the of we distance drilling that the to the Turning archeological the commenced properties. and the to with properties community trucking these Hudbay community the the environmental for baseline executed surface and the to the Caballito the that properties Reyna processing agreement allows Reyna potential mineral we owns of that rights Shortly allow within recently Chicago
Caballito Our that geological evidence surface Reyna was and Mitsui team by XXXXs. a until old tonnes about estimated rich hydrothermal in sulfide million States kilometers of for open mine. Caballito Maria large was survey X investigation field open resource Pampacancha, copper United from geological commenced XXXX mineralization that bodies. pit confirms as the porphyry to and and intrusive an mine and from operated X.X% the includes Similar activities Constancia located XX oxide pit and skarns, host copper early both total breccias
Llaguen the old sulfides Maria recent high-grade with samples porphyry And an their local the rich of bornite. in of copper activities. types hydrothermal occurrence and both is zones. X% and which having selective and hydrothermal areas kilometers skarn, X% will skarns Flin hand mineral André? Flon potential is XX these in now copper Mitsui our mining resource breccias the producing average garnet chalcopyrite pit, and André host confirmed and grade and to and in and mineralization, collected approximately Constancia small-scale speak extensive Artisanal at high-grade to mining update oxides activity mineralization from magnetite present with the our is drilling Reyna have We Tailings. between and breccia operators reported three host
