Saturday, March 02, 2019 7:42:02 PM
Hecla Mining (NYSE:HL)
Historical Stock Chart
1 Month : From Feb 2019 to Mar 2019
http://ih.advfn.com/stock-market/NYSE/hecla-mining-HL/stock-news/79262326/hecla-reports-record-silver-gold-and-lead-reserve
40% increase in reserve tons: 26% more gold and 8% more silver ounces
Resources in all categories also increased
Hecla Mining Company (NYSE:HL) today reported the highest silver, gold and lead reserves in its 128-year history and provided an update on its exploration programs during the fourth quarter of 2018.
Highlights
Reserve gains are from consistent long-term exploration programs and improved use of data.
Greens Creek, which generates approximately 50% of Hecla’s revenues, increased reserve tons 23%, silver ounces 19%, gold ounces 16%, zinc tons 15%, and lead tons 17%, giving a mine life from reserves alone of approximately 11 years.
Casa Berardi, which generates approximately 35% of Hecla’s revenues, increased reserve tons 70%, and gold ounces 28% with the expansion of Principal pit and the addition of the new West Mine Crown Pillar (WMCP) pit.
Reserves grew while using price assumptions of $14.50/oz silver (expected to be among the lowest in the industry), $1,200/oz gold, $1.15/lb zinc and $0.90/lb lead; all below current spot prices (Figure 1).
“Reserves in stable jurisdictions are a mining company’s most important asset. Hecla now has the largest reserve in its 128-year history and its largest single year increase because of exploration. The increase reflects the quality of the districts we control; our long-term, consistent strategy; and the capturing and use of all the data that long-lived mines have,” said Phillips S. Baker, Jr., President and CEO. “We have achieved this while the industry has generally seen declining reserves and we were able to use among the most conservative price assumptions in the industry because of the strong economics of these deposits.”
“It is particularly important that this growth comes at Greens Creek and Casa Berardi, who generate approximately 85% of our revenue and most of our operations’ free cash flow. These mines are Hecla’s best,” Mr. Baker added. “But we expect our other mines to do the same over the next few years. We are working hard at San Sebastian to extend the oxide mine life and to put the sulfides into production. We are just starting our work in Nevada, reducing the reserve to better reflect the geology, with the goal of building a solid base for consistent production.”
http://ih.advfn.com/stock-market/NYSE/hecla-mining-HL/stock-news/79262326/hecla-reports-record-silver-gold-and-lead-reserve
God Bless
Recent HL News
- Hecla First Quarter 2024 Results Conference Call/Webcast and Virtual Investor Event • Business Wire • 04/25/2024 08:15:00 PM
- Hecla Announces First Quarter Production • Business Wire • 04/08/2024 09:25:00 PM
- Hecla to Participate in Gold Forum Europe 2024 • Business Wire • 04/04/2024 08:15:00 PM
- Hecla Appoints Director • Business Wire • 02/26/2024 09:15:00 PM
- Hecla to Participate at Upcoming Conferences • Business Wire • 02/20/2024 09:15:00 PM
- Hecla Reports Fourth Quarter and Full Year 2023 Results • Business Wire • 02/14/2024 11:00:00 PM
- Hecla Reports Exploration Results and Reserves • Business Wire • 02/13/2024 10:30:00 PM
- Hecla 2023 Results Conference Call/Webcast and Virtual Investor Event • Business Wire • 02/01/2024 09:15:00 PM
- Hecla Announces 2023 Production • Business Wire • 01/10/2024 09:30:00 PM
- Hecla to Participate at Upcoming Conferences • Business Wire • 01/08/2024 09:15:00 PM
- HECLA ANNONCE SES RÉSULTATS DU TROISIÈME TRIMESTRE 2023 • Business Wire • 11/28/2023 12:00:00 PM
- Hecla Reports Third Quarter 2023 Results • Business Wire • 11/06/2023 11:19:00 PM
- Hecla Third Quarter 2023 Results Conference Call/Webcast and Virtual Investor Event • Business Wire • 10/24/2023 08:15:00 PM
- Hecla Announces Third Quarter Production • Business Wire • 10/12/2023 10:00:00 AM
- Hecla to Participate in John Tumazos Very Independent Research Virtual Conference • Business Wire • 10/09/2023 10:00:00 AM
- Hecla Announces Lucky Friday Update • Business Wire • 09/18/2023 10:00:00 AM
- Hecla to Participate in H.C. Wainwright Global Investment Conference and Gold Forum Americas • Business Wire • 09/11/2023 10:30:00 AM
- HECLA ANNONCE SES RÉSULTATS DU DEUXIÈME TRIMESTRE 2023 • Business Wire • 08/31/2023 01:17:00 AM
- Hecla Announces Lucky Friday Update • Business Wire • 08/21/2023 10:00:00 AM
- Hecla Reports Second Quarter 2023 Results • Business Wire • 08/09/2023 03:06:00 AM
- Hecla Second Quarter 2023 Results Conference Call/Webcast and Virtual Investor Event • Business Wire • 07/24/2023 08:15:00 PM
- HECLA ANNONCE SES RÉSULTATS DU PREMIER TRIMESTRE 2023 • Business Wire • 07/14/2023 12:47:00 AM
- Hecla Announces Second Quarter Production • Business Wire • 07/13/2023 10:00:00 AM
- Hecla Completes Acquisition of ATAC Resources and Restarts Casa Berardi • Business Wire • 07/10/2023 10:30:00 AM
- Hecla Announces Update on Casa Berardi Mine • Business Wire • 06/20/2023 10:00:00 AM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM