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Yes this is digesting a recent rish and should now begin to move again. Silver is going to $50, this will go to $15 by April.
When Angora first sent this HL was $5. Now $8.50 going to $15
Let’s Grab Some FREE Silver!
Last year, Greens Creek yielded 67,278 ounces of gold, over 7.4 million ounces of silver, 22,000 tons of lead and almost 70,379 tons of zinc. The mine’s by-product ores — containing gold, lead and zinc — more than pay for its silver production. For several years, Greens Creek has been one of the lowest cash cost silver producers in the world.
And as I stated earlier, its pulling silver out of the ground for negative $3.03 an ounce. The silver is entirely a profit-center of mine operations. And due to generally rising prices for gold, lead and zinc over the past few years, the mine has achieved these economies in the face of rising costs for fuel and labor.
According to some reports, the Greens Creek ore grades have been declining. However even conservative estimates indicate that Greens Creek will produce commercial quantities of gold, silver, lead and zinc for at least another decade. The engineers at Greens Creek are continually improving output. They improve mining efficiency with the help of new software systems for mine planning, scheduling and production tracking. On the exploration side, there is an aggressive drilling program to identify more mineral resources and to upgrade reserve estimates.
By gaining 100% control over Greens Creek, Hecla doubled its company-wide silver output to about 11 million ounces annually. Hecla calculates that full ownership of the Greens Creek Mine will boost the company’s silver reserves by 150% and its gold reserves by 140%.
Back in 2008, Hecla President and CEO Phillip Baker, Jr. told a conference that his company has been trying to obtain 100% ownership of Greens Creek for two decades. Hecla made significant preparation to put its purchase offer together, including selling assets and borrowing $400 million. “It took 20 years,” said Baker. But “once Rio Tinto did the Alcan transaction (in which Rio bought the giant Canadian aluminum producer), we went into high gear to be able to pick up (Greens Creek).”
Baker added, “We know the (Greens Creek) operation intimately and believe the operational risks are low. The cash cost per ounce of silver produced at Greens Creek, including by-product credits, is among the lowest in North America.” Based on recent prices for metals, Hecla should recoup the $750 million purchase price within five to six years, and could potentially do so sooner if prices continue to strengthen. And according to Baker, Greens Creek will generate large volumes of free cash. The estimates are $150 million to $200 million annually, after taxes. Hmmm… Dividends, anyone?
Meanwhile, Hecla will drill aggressively on the Greens Creek mining locale to find more extensions of the existing ore body, or even new ore bodies. According to Baker, “The Greens Creek mine has continuously replaced reserves. It has excellent exploration potential, not only within the current mining area, but perhaps even more importantly, has the potential for discovery within the highly-prospective 12-square-mile land position in this great mining district.”
This is classic miner’s understatement. For all the exploration, drilling and mining to date, nobody fully understands the geology of the Greens Creek deposit. One exploration expert has called it “impossibly complex.” Impossibly? Well, everything has a geological explanation if you throw enough effort at it.
But that “Impossibly complex” blanket statement reflects much of the geology of coastal Alaska. The geology is complicated to be sure. Still, the good news for Hecla is that the mineralization is there at Greens Creek, and the
mineralization is extensive. In the world of hard-rock mining, sometimes that’s about as good as it gets.
What does that mean, “as good as it gets?” Hey, high grade ore is where you find it. So be grateful when you hit pay-dirt. Thank St. Barbara, patron saint of miners. Or thank Vulcan, god of the underworld. Just be grateful. Be humble. Maybe you are smart, but nobody is that smart. Stay focused. And keep on drilling and digging. If Hecla drills and digs, the company will almost surely find more ore.
More Aces Up Its Sleeve
The Greens Creek purchase is great news for Hecla. It’s a terrific opportunity. But there is more to Hecla than just Greens Creek. Like any good silver miner playing cards at the Malamute Saloon, Hecla has a few more aces up its sleeve.
Great revenues and cash flow enable Hecla to expand other operations as well. In addition to consolidating ownership at Greens Creek, Hecla is adding a former Colorado mine to its portfolio. Here are some details.
Hecla can earn up to a 70% joint venture interest in the San Juan Silver Mining Joint Venture in the Creede Mining District in Colorado. Hecla is joining with JV partners Emerald Mining and Leasing and Golden 8 Mining to gain access to a 48 million ounce silver resource, based on initial assessments. There is probably even more silver resource out there.
The land package includes the old Bulldog Mine of the former Homestake Mining Company. This great old mine produced 25 million ounces of silver prior to closing in 1985 due to low prices. That is, the mine closed for economic reasons, not because it ran out of ore. And the JV deal includes access to more than 30 miles of veins and vein splays, most of which are located on patented ground.
So Hecla has a large amount of resource potential going forward. If just a fraction of Hecla’s exploration and expansion opportunities pan out, silver reserves could be doubled. Maybe more.
The Downside of Hecla?
So that’s the story of Hecla. It’s an old mining company that is renewing itself. The company has a market capitalization of about $14.3 billion, and company is expanding its reserve base in an era of resource scarcity, and growing
earnings in an era of generally rising prices. Cash flow is getting better each quarter. Greens Creek is a once-per-generation opportunity.
So is there a down side? Well, it would have been nice to pick up some shares of Hecla at their 52-week low when it sold for near $2 a share. Also, in this climate of volatility there is always a risk that some precious metals stocks will experience a pullback. But that does not mean that you should not buy and hold these companies for the long term.
In my view, Hecla is a growing company with a world-class resource base. The firm is a solid “Buy.” Currently selling around $5 per share, I believe that Hecla supports a $7–9 price in the near term. Within 12 months Hecla could sell for $15 per share.
Action to take: Buy Hecla Mining Co. (HL: NYSE)
On Silver & Gold
On Silver & Gold
On Silver & Gold
Just got a call from a friend that this is ready to run.
Came here to check it out. Good Luck to all.
Just got a call from a friend that this is ready to run.
Came here to check it out. Good Luck to all.
SNEY, check it out. I am hearing this will run tomorrow or Friday
OK, so I finally sold 90% of this on Friday. Can't take it any longer, will hold my remaining 500K shares in hopes that this hit some day. All my other mining stocks have doubled or more so why stay here. I won't be posting ere again unless this stock hit at least .05. Good Luck to all as I hope CNEX pays off some day.
That another penny stock. If you want a stock that is a junior miner go with PZG or DNN. HL and SLW are also good but CNEX is the same as what you bought and can drop big time to sub penny.
Been trying to double down at .0002 for 3 days and it won't happen. Soon I will need to raise to .0003. Even without news this will be an easy double/ triple soon as .0007 is a lock. News is the only thing that will really make this rock.
Yes the move up can begin. I have not been able to get any at 2 so I will add at 3.
Yes the move up can begin. I have not been able to get any at 2 so I will add at 3.
In my opinion that is a lock sometime this month. I have been in penny stock often and one thing I can tell you is there will be big up & down moves when you least expect it. Usually the big up move come the day you sell. If you are looking to sell some what for that up day. it will come.
Been trying to buy at 2 but my order won't fill. We will see .0005 by Friday. If and when we get news this will move. I am frustrated like the rest but feel this will pay off.
Look for a surge of buying into the close.
Yes I see SSWC ready to move up big and soon.
28 Million
The 911 was real?
CANNON EXPLORATION INC COM CNEX: OTC
Last Price Today’s Change Bid (Size) Ask (Size) Day’s Range Volume Trade
0.0004 0.000 (0.00%) 0.0003 x5,000 0.0004 x5,000 0.0004 - 0.0004 1,150,000
There should be a second for 1,000,000
OK I was with a friend last night who I have not seen in a while.
We were talking about precious metals investments and he recommended that I buy CNEX. I fell off the chair. He works for a large investment firm that starts with a G and said they are on our radar. That was all I needed to hear. I added another 1,000,000 this morning and don't plan to sell any. Lets all sit tight, our day is coming. I have been in this for a while and my cost is much higher than the current price but this will pay off BIG
Agree, this will be a build up to the PR then we gap up BIG. Those that are not in will be too late to catch the big ride. The GOLD is there. we are waiting for the PR that confirms how much.
KATX is done for now. The big upside is there. I was also in KATX but sold all and moved to CNEX. Silver and Gold are the place to be. I also own PZG and SLW but CNEX is my penny stock and has the most potential
Yes big volume with a PR will shoot this way up.
After a PR we surge to over .10 then possibly come back a little but never see these levels again. It will be soon.
I am not worried about these small moves, it the BIG one that will matter.
Oh yes! Can't wait for CNEX to confirm what they have.
Better Technology. Kind of like old abandon oil wells. Today they are going back to old wells to extract oil they previously could not.
PR is imminent. Edwin can not say a word until the PR is released.
I have said it before, when the PR comes out we will never see these prices again. The new lows will be in the .05 range.
Yes Trapper, Thanks. we know its coming. he PR will confirm what we already know. Better days are ahead.
Me too, would by but no cash left. So we now need to just hold.
Not me been trying for 2 days.
Can you post some pictures?
Exactly, I agree with you 100%. Why are theses bashers wasting their time. Are they doing a public service for all of us? When the PR is out and this goes up I for one don't want to be on the sidelines. I know they have GOLD and they reason we are way down is dilution and no news. Welcome to pennyland. If this hit like I expect then $$$$$$$$$$$$$.
Thanks, good info.
Yes looking forward to the next leg up. These prices will be history soon.
With all the patents this company has how can the market cap be soooooo low. I plan to add down here.
Not bad advise. I don't plan to sell but wait for that big up day. Seen it before when I check the stock in the AM, news is out and the bid is 10 to 20 maybe 100 times the price. Property with Gold will be worth at least 20 Million so now we just need a PR to confirm.
Some was me at ask.