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    SEC Form SC 13D/A filed by Hudbay Minerals Inc. (Amendment)

    4/19/23 5:03:28 PM ET
    $HBM
    Metal Mining
    Basic Materials
    Get the next $HBM alert in real time by email
    SC 13D/A 1 sc13da1911955002_04192023.htm AMENDMENT NO. 19 TO THE SCHEDULE 13D

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    Washington, D.C. 20549

    SCHEDULE 13D

    (Rule 13d-101)

    INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

    TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO

    § 240.13d-2(a)

    (Amendment No. 19)1

    Hudbay Minerals Inc.

    (Name of Issuer)

    Common Shares, no par value

    (Title of Class of Securities)

    443628102

    (CUSIP Number)

    KANWALJIT TOOR

    199 Bay Street, Suite 5050

    Toronto, Ontario M5L 1E2

    +1 416 504 3508

     

    STEVE WOLOSKY, ESQ.

    ANDREW FREEDMAN, ESQ.

    OLSHAN FROME WOLOSKY LLP

    1325 Avenue of the Americas

    New York, New York 10019

    (212) 451-2300

    (Name, Address and Telephone Number of Person

    Authorized to Receive Notices and Communications)

     

    April 17, 2023

    (Date of Event Which Requires Filing of This Statement)

     

    If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ¨.

    Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See § 240.13d-7 for other parties to whom copies are to be sent.

     

     

     

    1              The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

    The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

     

    CUSIP No. 443628102

      1   NAME OF REPORTING PERSON  
             
            Waterton Mining Parallel Fund Offshore Master, LP  
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒
            (b) ☐
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
            OO  
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
            Cayman Islands  
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY         - 0 -  
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING         10,000,000  
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
              - 0 -  
        10   SHARED DISPOSITIVE POWER  
               
              10,000,000  
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
            10,000,000  
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
            3.8%  
      14   TYPE OF REPORTING PERSON  
             
            PN  

      

    2

    CUSIP No. 443628102

      1   NAME OF REPORTING PERSON  
             
            Waterton Precious Metals Fund II Cayman, LP  
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒
            (b) ☐
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
            OO  
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
            Cayman Islands  
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY         - 0 -  
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING         - 0 -  
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
              - 0 -  
        10   SHARED DISPOSITIVE POWER  
               
              - 0 -  
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
            - 0 -  
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
            0%  
      14   TYPE OF REPORTING PERSON  
             
            PN  

      

    3

    CUSIP No. 443628102

     

      1   NAME OF REPORTING PERSON  
             
            Waterton Mining Parallel Fund Offshore GP Corp.  
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒
            (b) ☐
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
            OO  
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
            Cayman Islands  
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY         - 0 -  
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING         10,000,000  
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
              - 0 -  
        10   SHARED DISPOSITIVE POWER  
               
              10,000,000  
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
            10,000,000  
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
            3.8%  
      14   TYPE OF REPORTING PERSON  
             
            CO  

      

    4

    CUSIP No. 443628102

     

      1   NAME OF REPORTING PERSON  
             
            Waterton Global Resource Management, LP  
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒
            (b) ☐
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
            OO  
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
            Cayman Islands  
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY         - 0 -  
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING         - 0 -  
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
              - 0 -  
        10   SHARED DISPOSITIVE POWER  
               
              - 0 -  
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
            - 0 -  
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
            0%  
      14   TYPE OF REPORTING PERSON  
             
            PN  

      

    5

    CUSIP No. 443628102

     

      1   NAME OF REPORTING PERSON  
             
            Waterton Global Resource Management Cayman Corp.  
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒
            (b) ☐
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
            OO  
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
            Cayman Islands  
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY         - 0 -  
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING         - 0 -  
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
              - 0 -  
        10   SHARED DISPOSITIVE POWER  
               
              - 0 -  
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
            - 0 -  
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
            0%  
      14   TYPE OF REPORTING PERSON  
             
            CO  

      

    6

    CUSIP No. 443628102

     

      1   NAME OF REPORTING PERSON  
             
            Waterton Global Resource Management, Inc.  
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒
            (b) ☐
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
            OO  
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
            Canada  
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY         - 0 -  
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING         10,000,000  
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
              - 0 -  
        10   SHARED DISPOSITIVE POWER  
               
              10,000,000  
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
            10,000,000  
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
            3.8%  
      14   TYPE OF REPORTING PERSON  
             
            IA  

      

    7

    CUSIP No. 443628102

     

      1   NAME OF REPORTING PERSON  
             
            Cheryl Brandon  
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒
            (b) ☐
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
            OO  
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
            Canada  
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY         - 0 -  
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING         10,000,000  
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
              - 0 -  
        10   SHARED DISPOSITIVE POWER  
               
              10,000,000  
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
            10,000,000  
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
            3.8%  
      14   TYPE OF REPORTING PERSON  
             
            IN  

      

    8

    CUSIP No. 443628102

     

      1   NAME OF REPORTING PERSON  
             
            Isser Elishis  
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒
            (b) ☐
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
            OO  
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
            USA  
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY         - 0 -  
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING         10,000,000  
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
              - 0 -  
        10   SHARED DISPOSITIVE POWER  
               
              10,000,000  
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
            10,000,000  
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
            3.8%  
      14   TYPE OF REPORTING PERSON  
             
            IN  

      

    9

    CUSIP No. 443628102

     

      1   NAME OF REPORTING PERSON  
             
            Kalman Schoor  
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒
            (b) ☐
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
            OO  
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
            USA  
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY         - 0 -  
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING         10,000,000  
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
              - 0 -  
        10   SHARED DISPOSITIVE POWER  
               
              10,000,000  
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
            10,000,000  
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
            3.8%  
      14   TYPE OF REPORTING PERSON  
             
            IN  

      

    10

    CUSIP No. 443628102

     

      1   NAME OF REPORTING PERSON  
             
            Kanwaljit Toor  
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒
            (b) ☐
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
            OO  
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
            Canada  
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY         - 0 -  
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING         10,000,000  
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
              - 0 -  
        10   SHARED DISPOSITIVE POWER  
               
              10,000,000  
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
            10,000,000  
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
            3.8%  
      14   TYPE OF REPORTING PERSON  
             
            IN  

      

    11

    CUSIP No. 443628102

     

      1   NAME OF REPORTING PERSON  
             
            Richard J. Wells  
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒
            (b) ☐
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
            OO  
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
            Canada  
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY         - 0 -  
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING         10,000,000  
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
              - 0 -  
        10   SHARED DISPOSITIVE POWER  
               
              10,000,000  
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
            10,000,000  
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
            3.8%  
      14   TYPE OF REPORTING PERSON  
             
            IN  

      

    12

    CUSIP No. 443628102

     

    The following constitutes Amendment No. 19 to the Schedule 13D filed by the undersigned (“Amendment No. 19”). This Amendment No. 19 amends the Schedule 13D as specifically set forth herein.

    Item 3.Source and Amount of Funds or Other Consideration.

    Item 3 is hereby amended and restated to read as follows:

    The Shares purchased by Waterton Mining LP were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases, except as otherwise noted, as set forth in Schedule A, which is incorporated by reference herein. The aggregate purchase price of the 10,000,000 Shares beneficially owned by Waterton Mining LP is approximately C$56,686,988, excluding brokerage commissions.

    Item 5.Interest in Securities of the Issuer.

    Items 5(a)-(c) and (e) are hereby amended and restated to read as follows:

    The aggregate percentage of Shares reported owned by each person named herein is based upon 262,047,562 Shares outstanding, as of March 29, 2023, which is the total number of Shares outstanding as reported in Exhibit 99.1 to the Issuer’s Annual Report on Form 40-F filed with the Securities and Exchange Commission on March 31, 2023.

    A.Waterton Mining LP
    (a)As of the close of business on April 19, 2023, Waterton Mining LP beneficially owned 10,000,000 Shares.

    Percentage: Approximately 3.8%

    (b)1. Sole power to vote or direct vote: 0
    2. Shared power to vote or direct vote: 10,000,000
    3. Sole power to dispose or direct the disposition: 0
    4. Shared power to dispose or direct the disposition: 10,000,000

     

    (c)The transactions in the Shares by Waterton Mining LP since the filing of Amendment No. 18 to the Schedule 13D are set forth in Schedule A and are incorporated herein by reference.
    B.Waterton Fund II
    (a)As of the close of business on April 19, 2023, Waterton Fund II does not beneficially own any Shares.

    Percentage: 0%

    (b)1. Sole power to vote or direct vote: 0
    2. Shared power to vote or direct vote: 0
    3. Sole power to dispose or direct the disposition: 0
    4. Shared power to dispose or direct the disposition: 0

     

    13

    CUSIP No. 443628102

    (c)The transactions in the Shares by Waterton Fund II since the filing of Amendment No. 18 to the Schedule 13D are set forth in Schedule A and are incorporated herein by reference.
    C.Waterton Mining GP
    (a)Waterton Mining GP, as the general partner of Waterton Mining LP, may be deemed the beneficial owner of the 10,000,000 Shares owned by Waterton Mining LP.

    Percentage: Approximately 3.8%

    (b)1. Sole power to vote or direct vote: 0
    2. Shared power to vote or direct vote: 10,000,000
    3. Sole power to dispose or direct the disposition: 0
    4. Shared power to dispose or direct the disposition: 10,000,000

     

    (c)Waterton Mining GP has not entered into any transactions in the Shares since the filing of Amendment No. 18 to the Schedule 13D. The transactions in the Shares on behalf of Waterton Mining LP since the filing of Amendment No. 18 to the Schedule 13D are set forth in Schedule A and are incorporated herein by reference.
    D.WGRM LP
    (a)WGRM LP does not beneficially own any Shares.

    Percentage: 0%

    (b)1. Sole power to vote or direct vote: 0
    2. Shared power to vote or direct vote: 0
    3. Sole power to dispose or direct the disposition: 0
    4. Shared power to dispose or direct the disposition: 0

     

    (c)WGRM LP has not entered into any transactions in the Shares since the filing of Amendment No. 18 to the Schedule 13D. The transactions in the Shares on behalf of Waterton Fund II since the filing of Amendment No. 18 to the Schedule 13D are set forth in Schedule A and are incorporated herein by reference.
    E.WGRM Corp.
    (a)WGRM Corp. does not beneficially own any Shares.

    Percentage: 0%

    (b)1. Sole power to vote or direct vote: 0
    2. Shared power to vote or direct vote: 0
    3. Sole power to dispose or direct the disposition: 0
    4. Shared power to dispose or direct the disposition: 0

    14

    CUSIP No. 443628102

    (c)WGRM Corp. has not entered into any transactions in the Shares since the filing of Amendment No. 18 to the Schedule 13D. The transactions in the Shares on behalf of Waterton Fund II since the filing of Amendment No. 18 to the Schedule 13D are set forth in Schedule A and are incorporated herein by reference.
    F.WGRM Inc.
    (a)WGRM Inc., as the investment adviser to each of Waterton Mining LP and Waterton Fund II, may be deemed the beneficial owner of the 10,000,000 Shares owned by Waterton Mining LP.

    Percentage: Approximately 3.8%

    (b)1. Sole power to vote or direct vote: 0
    2. Shared power to vote or direct vote: 10,000,000
    3. Sole power to dispose or direct the disposition: 0
    4. Shared power to dispose or direct the disposition: 10,000,000

     

    (c)WGRM Inc. has not entered into any transactions in the Shares since the filing of Amendment No. 18 to the Schedule 13D. The transactions in the Shares on behalf of each of Waterton Mining LP and Waterton Fund II since the filing of Amendment No. 18 to the Schedule 13D are set forth in Schedule A and are incorporated herein by reference.
    G.Messrs. Elishis, Schoor, Toor and Wells and Ms. Brandon
    (a)Each of Messrs. Elishis, Schoor, Toor and Wells and Ms. Brandon, as a senior executive of WGRM Inc., may be deemed the beneficial owner of the 10,000,000 Shares owned by Waterton Mining LP.

    Percentage: Approximately 3.8%

    (b)1. Sole power to vote or direct vote: 0
    2. Shared power to vote or direct vote: 10,000,000
    3. Sole power to dispose or direct the disposition: 0
    4. Shared power to dispose or direct the disposition: 10,000,000

     

    (c)None of Messrs. Elishis, Schoor, Toor and Wells and Ms. Brandon has entered into any transactions in the Shares since the filing of Amendment No. 18 to the Schedule 13D. The transactions in the Shares on behalf of each of Waterton Mining LP and Waterton Fund II since the filing of Amendment No. 18 to the Schedule 13D are set forth in Schedule A and are incorporated herein by reference.

    The filing of this Schedule 13D shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer that he, she or it does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the securities reported herein that he, she or it does not directly own.

    (e)As of April 17, 2023, the Reporting Persons ceased to beneficially own more than 5% of the outstanding Shares of the Issuer.
    15

    CUSIP No. 443628102

    SIGNATURES

    After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

    Dated: April 19, 2023

      WATERTON MINING PARALLEL FUND OFFSHORE MASTER, LP
       
      By: Waterton Mining Parallel Fund Offshore GP Corp., its general partner
         
      By:

    /s/ Richard J. Wells

        Name: Richard J. Wells
        Title: Chief Financial Officer

     

     

      WATERTON PRECIOUS METALS FUND II CAYMAN, LP
       
      By: Waterton Global Resource Management, LP, its general partner
      By: Waterton Global Resource Management Cayman Corp., its general partner
         
      By:

    /s/ Richard J. Wells

        Name: Richard J. Wells
        Title: Chief Financial Officer

     

     

      WATERTON MINING PARALLEL FUND OFFSHORE GP CORP.
       
      By:

    /s/ Richard J. Wells

        Name: Richard J. Wells
        Title: Chief Financial Officer

     

     

      WATERTON GLOBAL RESOURCE MANAGEMENT, LP
       
      By: Waterton Global Resource Management Cayman Corp., its general partner
         
      By:

    /s/ Richard J. Wells

        Name: Richard J. Wells
        Title: Chief Financial Officer

     

    16

    CUSIP No. 443628102

     

      WATERTON GLOBAL RESOURCE MANAGEMENT CAYMAN CORP.
       
      By:

    /s/ Richard J. Wells

        Name: Richard J. Wells
        Title: Chief Financial Officer

     

     

      WATERTON GLOBAL RESOURCE MANAGEMENT, INC.
       
      By:

    /s/ Richard J. Wells

        Name: Richard J. Wells
        Title: Chief Financial Officer

     

     

     

    /s/ Cheryl Brandon

      CHERYL BRANDON
       
       
     

    /s/ Isser Elishis

      ISSER ELISHIS
       
       
     

    /s/ Kalman Schoor

      KALMAN SCHOOR
       
       
     

    /s/ Kanwaljit Toor

      KANWALJIT TOOR
       
       
     

    /s/ Richard J. Wells

      RICHARD J. WELLS

     

    17

    CUSIP No. 443628102

     

    SCHEDULE A

    Transactions in the Shares Since the filing of Amendment No. 18 to the Schedule 13D

    Nature of the Transaction

    Amount of Securities

    Purchased/(Sold)

    Price (US$)

    Date of

    Purchase/Sale

     

    Waterton Mining Parallel Fund Offshore Master, LP

     

    Sale of Common Stock (34,855) 5.2706 04/13/2023
    Sale of Common Stock (286,770) 5.2766 04/14/2023
    Sale of Common Stock (150,000) 5.1534 04/17/2023
    Sale of Common Stock (300,000) 5.3100 04/18/2023
    Sale of Common Stock (291,165) 5.2764 04/19/2023

     

    Waterton Precious Metals Fund II Cayman, LP

     

    Sale of Common Stock (17,629) 5.2502 04/12/2023
    Sale of Common Stock (197,516) 5.2706 04/13/2023
    Sale of Common Stock (1,625,032) 5.2766 04/14/2023
    Sale of Common Stock (850,000) 5.1534 04/17/2023
    Sale of Common Stock (1,700,000) 5.3100 04/18/2023
    Sale of Common Stock (802,638) 5.2764 04/19/2023

     

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