HECLA REPORTS THIRD QUARTER 2012 RESULTS AND EXPECTED2013 PRODUCTION FROM LUCKY FRIDAY MINE
For the Period Ended September 30, 2012
For Release: November 6, 2012
COEUR D'ALENE, IDAHO -- Hecla Mining Company (NYSE:HL) today announced a third quarter net loss applicable to common shareholders of $1.0 million, or $0.00 per basic share, and earnings after adjustments applicable to common shareholders of $3.2 million, or $0.01 per basic share. Third quarter silver production was up 19% from the previous quarter to 1.6 million ounces at a cash cost of $3.52 per ounce, net of by-products. Operating cash flow for the quarter was $35.2 million.
THIRD QUARTER 2012 HIGHLIGHTS
� Silver production of 1.6 million ounces, up 19% from the previous quarter, at a total cash cost (a non-GAAP measure) of $3.52 per ounce, net of by-products.
� Operating cash flow of $35.2 million.
� Net loss applicable to common shareholders of $1.0 million, or $0.00 per basic share, due primarily to non-cash mark-to-market adjustments related to the Company's long-term base metal hedging program.
� Earnings after adjustments applicable to common shareholders (a non-GAAP measure) of $3.2 million, or $0.01 per basic share.
� Lucky Friday rehabilitation work progresses to approximately 5700 level with production expected to resume in Q1/2013. Full-year 2013 silver production expected at more than 2 million ounces.
� Cash and cash equivalents of $232 million at September 30, 2012.
� Declaration of common stock dividend of $0.0225 per share, payable on or about December 5 to shareholders of record on November 27.
� Drilled very high-grade mineralization over exceptional widths at Greens Creek (Alaska).
� At San Sebastian, drilling of the Middle Vein has defined a very high-grade, gold-silver vein which is approximately 800 feet from the Hugh Zone.
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VanEck Vectors Global Alternative Energy ETF
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PRODUCER |
CODE : HL |
ISIN : US4227041062 |
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Hecla Mining is a silver and gold producing company based in United states of america. Hecla Mining produces silver, gold, lead and zinc in Bolivia, in Mexico and in USA, and holds various exploration projects in Mexico. Its main assets in production are GREENS CREEK in USA, SAN SEBASTIAN in Mexico and LA CAMORA and LUCKY FRIDAY in Bolivia and its main exploration properties are GROUSE CREEK, SAN JUAN - HECLA MINING and GOLD HUNTER in Mexico. Hecla Mining is listed in Germany and in United States of America. Its market capitalisation is 310.7 millions as of today (€ 279.3 millions). Its stock quote reached its highest recent level on March 24, 1995 at 9.88, and its lowest recent point on January 05, 2001 at 0.49. Hecla Mining has 47 442 200 shares outstanding. |