Hecla Mining Reports Second Quarter 2016 Results

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COEUR D’ALENE, Idaho–(BUSINESS WIRE)–Hecla Mining Company (NYSE:HL) today announced second quarter 2016 financial and operating results.

SECOND QUARTER HIGHLIGHTS AND SIGNIFICANT ITEMS (compared to Q2 2015)

  • Net income applicable to common shareholders of $24.0 million, or $0.06 per share.
  • Sales of $171.3 million, up 64% on higher production, a record.
  • Adjusted EBITDA of $77.8 million, up 164%.1
  • Silver production of 4.2 million ounces, up 71%.
  • Gold production of 62,965 ounces, up 41%.
  • Cash and cash equivalents and short-term investments of $159 million, up $25 million over first quarter.
  • Increased estimated 2016 (i) silver production to 15.75 million ounces (from 15.0 million) at a cash cost, after by-product credits, of $4.75 per ounce (from $5.00 per ounce) and (ii) exploration and pre-development expenditures by 27% to $19.0 million.2
  • #4 Shaft at Lucky Friday reached its final depth, expected to be operational by year end.

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