BALMAT — Sale of HudBay Minerals zinc operation to Wildcat Zinc remains on hold.

“We’re still working on financing. We’re still talking to HudBay,” Wildcat CEO Michael L. Hoffman said. “It’s a tough time to get financing.”

On April 22, OMT Inc. and New York Zinc — a venture of the Canadian companies OMT Inc. and New York Zinc — signed a letter of intent for a business amalgamation under which HudBay would sell the zinc mines for $14 million.

HudBay closed the mines in 2008.

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