Hi Tom - Besides the 79 million in cash on the balance sheet from the most recent quarter. Hecla recently raised cash from a stock offering, adding roughly another 21 million dollars.
They also deferred the January 1, 2009 dividend on the preferred stock since the share price fell under the minimal level to issue the dividend.
It's in the best interest of institutional investors in this stock, which is roughly 60% of the outstanding 'publicly' traded shares to now maintain a share price of at least $2.45 given the latest stock offering to keep the options/warrants in the money.
It's in the best interest of the preferred stock holders to maintain a share price over $3.40 to be eligible for future dividends.
There's a lot of 'smart money' involved here. If you're concern is the company becoming insolvent, put it aside, there's absolutely no chance of that happening in the foreseeable future.
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