Could get interesting. The 8k came out regarding the dividend. It was being reported in an article on Seeking Alpha that the dividend was to be $.0025 cents. That was quite a typo. According the email I received from Hecla it will be $.25. It was anonymous or I would put the person's name up also that reported that.
I am hoping the 4+% loan from Quebec firm does not drive down the share price. Hecla just announced that $31+ million dollar loan today also. Thoughts?
Date: 03-05-2018
COEUR D’ALENE, Idaho--(BUSINESS WIRE)-- Hecla Mining Company (NYSE:HL) today announced that Ressources Quebec, a wholly owned subsidiary of Investissement Québec, is making a C$40 (US$31.6) million loan investment in Hecla (“the investment”).
-K 8-K 2/15/2018 2/15/2018
Abstract: On Feb. 15, registrant reported its financial results for the quarter and for the year ended Dec. 31, 2017. Registrant declared a common stock dividend of 0.25 cent per share, payable March 13 to shareholders as of March 6, and a series B cumulative convertible preferred stock dividend of 87.5 cent per share, payable April 2 to shareholders as of March 15.
The investment will be in the form of a senior unsecured term loan with a coupon rate of 4.68%, to mature at the same time as the outstanding high yield notes, in 37 months. The proceeds are to be used for development and expansion of the Casa Berardi mine located in the Abitibi-Témiscamingue region in Quebec.
“Today’s announcement is another example of why Quebec is a leading mining jurisdiction in North America,” said Phillips S. Baker, Jr., Hecla’s President and CEO. “Since we acquired the Casa Berardi mine, we have seen a significant improvement in its operations, including doubling the throughput, increased gold production and reserves, and a 70% reduction in the All Injury Frequency Rate. We have also added about 250 workers to the mine since it was acquired, bringing the total to around 950 currently. We welcome this opportunity to work closer with the Quebec government as we continue to grow and strengthen the operation.”
