On October 2, HudBay Minerals rose 5.23% in regular trading, trading at $27.51/share, with turnover of $10.21 million. The stock rebounded sharply as investors continued to digest the company's significantly upgraded Snow Lake mining plan announced late September.

HudBay released an updated mine plan showing that the probable reserve mine life at its Snow Lake operations in Manitoba, Canada has been extended by a cumulative six years to 2043. Mineral reserve estimates at Snow Lake increased to 27 million metric tons containing approximately 2.0 million ounces of gold, reflecting a 38% increase in tonnage from January. The company also raised its projected five-year average annual gold production to 185,000 ounces, representing a 37% increase, while total estimated life-of-mine gold production surged 60% to 2.8 million ounces from 1.8 million ounces in the prior report. Updated five-year average gold cash costs stand at $821 per ounce with sustaining cash costs at $1,379 per ounce.

The broader copper and diversified mining sector also provided a supportive backdrop, with Teck Resources up 2.98%, BHP Billiton up 1.48%, and Rio Tinto up 1.35%.

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