COEUR D’ALENE, Idaho–(BUSINESS WIRE)–Hecla Mining Company (NYSE:HL) today announced fourth quarter and year end 2016 financial and operating results.
|FOURTH QUARTER AND FULL YEAR 2016 HIGHLIGHTS|
|Q4 2016||Q4/16 vs. Q4/15||2016||2016 vs. 2015|
|Net income applicable
to common shareholders
|$20.1 M||$0.05/share||132%||$69.0 M||$0.18/share||179%|
|Adjusted net income1||$11.2 M||$0.03/share||34%||$60.7 M||$0.16/share||277%|
|Sales||$164.2 M||42%||$646.0 M||46%|
|Cash provided by
|$52.1 M||90%||$225.3 M||111%|
|Adjusted EBITDA2||$65.1 M||89%||$264.6 M||127%|
|Net debt/adjusted EBITDA2,5||1.2X||(61)%|
|Free cash flow 3||$7.7 M||152%||$44.5 M||243%|
|Cash and cash eq. & short
|$198.9 M||28%||$198.9 M||28%|
|Silver production||3.98 M oz||9%||17.2 M oz||48%|
|Gold production||63.2 K oz||5%||233.9 K oz||24%|
|Silver equivalent production4||12.1 M oz||108%||46.1 M oz||123%|
- San Sebastian produced 4.3 million ounces of silver and 34,042 ounces of gold, generating $93.9 million of cash provided by operating activities with only $1.5 million of capital.
- East Mine Crown Pillar (EMCP) pit at Casa Berardi fully operational, increasing mill throughput and gold production.
- First hardrock mining company to receive independent certification under CORESafety.
- Maintained proven and probable silver reserve levels despite record silver production, lowered exploration budget and $14.50/oz silver used for calculation, among the lowest in industry.
- Acquired the Montanore Project, a large silver-copper development asset in Montana.
- Estimated 2017 silver equivalent production of 46.5-49.4 million ounces (or gold equivalent production of 655,000-696,000 ounces), higher than 2016’s record production.10