The big problem has been lower gold production. In spite of being a big silver producer, higher gold production in 2019 provided a nice boost that lessened in 2020. Guidance for gold in future years is a slow decline. Total production forecast for the next few years is pretty flat for all metals. Nevada has been a big miss. Few encouraging comments about Nevada that would lead to production again.
If metal prices take off, Hecla will surely benefit but there is no dramatic organic growth forecast. This means that Hecla will live or die based on future metals prices. That's always the case but Hecla needs to find a growth vehicle. I guess that was what Nevada was supposed to be.
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