Hecla Reports Third Quarter 2016 Results

http://ir.hecla-mining.com/file/Index?KeyFile=36600210

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

THIRD QUARTER HIGHLIGHTS AND SIGNIFICANT ITEMS (compared to Q3 2015)

  • Net income applicable to common shareholders of $25.7 million, or $0.07 per share.
  • Sales of $179.4 million, up 71%, a record.
  • Adjusted EBITDA of $75.2 million, up 323%.1
  • Cash provided by operating activities of $87.0 million, up 225%. Includes $16 million of insurance proceeds for the Troy Mine reclamation.
  • Free cash flow of $27.7 million, up $38 million.2
  • Total silver production of 4.3 million ounces, up 67%.
  • Gold production of 52,126 ounces, up 19%.
  • Silver equivalent production of 10.3 million ounces, up 17%.3
  • Last 12 months net loss of $13.7 million and adjusted EBITDA of $234 million.1
  • Net debt/adjusted EBITDA (last 12 months) of 1.4x, a 49% decline.1,4
  • Cash and cash equivalents and short-term investments of $192.4 million at September 30, 2016, up $33 million over the second quarter.
  • Completed the acquisition of the Montanore project, located near the Rock Creek project.
  • Reduced estimate for 2016 cash cost, after by-product credits, per silver ounce to $4.00 and increased estimate for 2016 cash cost, after by-product credits, per gold ounce to $750.5

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