COEUR D’ALENE, Idaho–(BUSINESS WIRE)– Hecla Mining Company (NYSE:HL) today announced estimated realized prices, production, revenue, net income (loss) and Adjusted EBITDA for the second quarter of 2017, based on preliminary information available as of June 21, 2017.¹
The following table summarizes estimated results that are expected to be within the following ranges:
|Second Quarter Ending June 30, 2017|
|Estimated Realized Price||Estimated Production||Estimated Revenue2|
|Silver||$16.50-$17.30/oz||2.4-2.8 Moz||$43-$47 M|
|Gold||$1,235-$1,265/oz||50-52 koz||$64-$66 M|
|Lead||$0.92-$0.99/lb||8.4-8.8 Mlbs||$7.5-$9 M|
|Zinc||$1.11-$1.20/lb||25-26 Mlbs||$19-$22 M|
|Treatment Charges||$(6.5)-$(7) M|
|Total Revenues||$127-$137 M|
Second Quarter 2017 Highlights (Preliminary Results/Developments)
- The Company expects that its operating mines will perform in line with its estimates for the second quarter.
- Net loss applicable to common stockholders is expected to be in the range of $(2.0) – $(8.0) million.
- Adjusted EBITDA for the second quarter is expected to be in the range of $38 – $48 million.
- Production, sales and Adjusted EBITDA are lower than the metrics recorded in the first quarter due in part to lower silver, lead and zinc prices, the expected lower grade at Greens Creek, and the ongoing strike at Lucky Friday.
- The Company expects to extend its $100 million credit facility to July 2020.
- The Company and the union representing unionized workers at Lucky Friday are scheduled to meet in early July.