Hecla Reports 4.2 Million Ounces of Silver and 62,965 Ounces of Gold Production


COEUR D’ALENE, Idaho–(BUSINESS WIRE)–Hecla Mining Company (NYSE:HL) today announced preliminary silver and gold production results1 for the second quarter of 2016.

SECOND QUARTER 2016 HIGHLIGHTS (compared to Q2 2015)

  • Silver production of 4,241,338 ounces, a 71.2% increase.
  • Gold production of 62,965 ounces, a 40.9% increase.
  • Silver equivalent production of 11,813,131 ounces, a 38.4% increase.2
  • Lead production increased 9.1% and zinc production increased 3.5%.
  • Increased silver production estimate for 2016 to 15.75 million ounces, a 5% increase.
  • Increased gold production estimate for 2016 to 233,000 ounces, a 13% increase.
  • Increased silver equivalent production estimate for 2016 to 44 million ounces, a 7% increase.3
  • Cash, cash equivalents and short term investments of approximately $157 million at 06/30/16, an increase of about $23 million over 03/31/16.

“Our strategy of accelerating growth has silver and gold production up 71% and 41% over last year just as prices are starting to rise,” said Phillips S. Baker, Jr., Hecla’s President and CEO. “With increased production and higher prices we are generating free cash flow and have more cash than when we started the year. Our increasing production outlook puts Hecla on track for another record setting year of silver production.”

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