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Hecla Mining Company
Summary
| Project: | Casa Berardi | |
|---|---|---|
| Deposit: | Casa Berardi | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 11/7/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 7-11-2019: Hecla Mining Company announces an Exploration/Drilling Update report for its Casa Berardi deposit at the Casa Berardi project. Drilling results incl. 26.6ft @ 0.63 oz/t Au (8.12m @ 19.60g/t Au). COEUR D'ALENE, IDAHO -- Hecla Mining Company (NYS | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Kurt D. Allen, Keith Blair (Internal) | |
| ABSTRACT: | COEUR D'ALENE, IDAHO -- Hecla Mining Company (NYSE:HL) today announced third quarter financial and operating results including sales of $161.5 million, net loss applicable to shareholders of $19.7 million, or $0.04 per share, cash provided by operating activities of $54.9 million and silver cost of sales and other direct production costs and depreciation, depletion and amortization ("cost of sales") of $57.3 million. "The third quarter performance, including our increased adjusted EBITDA results, demonstrates significant progress toward our twin financial goals of having no net revolver indebtedness at year end and refinancing our senior notes," said Phillips S. Baker, Jr., President and CEO. "Our net revolver debt decreased by about $26 million, all from free cash flow, and our adjusted EBITDA of $70 million is about 50% more than the first and second quarter combined. We expect the fourth quarter adjusted EBITDA to be similar to the third quarter." Mr. Baker continued, "At the Lucky Friday, a tentative labor agreement has been reached with the union's negotiating committee and is subject to member ratification. We expect the mine ramp-up to full production to take about a year's time, which would be good for the workforce, shareholders and the community. Also, congratulations to the Lucky Friday for winning the Sentinels of Safety, the highest safety award for mining in the US, as well as Idaho's Pollution Prevention Champion Award." | |
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