Hecla Reports Fourth Quarter and Full Year 2017 Results

Hecla-20180215

COEUR D’ALENE, Idaho–(BUSINESS WIRE)– Hecla Mining Company (NYSE:HL) today announced fourth quarter and year end 2017 financial and operating results.

2017 HIGHLIGHTS

  • Revenues of $577.8 million, the second highest in Company history after the record set in 2016.
  • Net loss applicable to common stockholders of $24.1 million ($0.06 per share).
  • Tax provision of $19.9 million due in part to changes in U.S. tax law.
  • Adjusted net income applicable to common stockholders of $38.8 million, $0.10 per share.1
  • Cash flows from operations of $115.9 million.
  • Cost of sales and other direct production costs and depreciation, depletion and amortization (“cost of sales”) of $420.8 million.
  • Total cash cost, after by-product credits, per silver ounce of ($0.01), the lowest in 7 years.2
  • All in sustaining cost (“AISC”), after by-product credits, per silver ounce of $7.86, down 33%.3
  • Silver production of 12.5 million ounces, the second highest in Company history.
  • Gold production of 232,684 ounces, the third highest in Company history.
  • Silver equivalent production of 40.9 million ounces or gold equivalent of 554,843 ounces.8
  • Record silver, gold and lead reserves and highest zinc reserves in five years.
  • Gold production at Casa Berardi of 156,653 ounces, the highest since its acquisition.
  • Cash, cash equivalents and short-term investments of approximately $220 million at year end, an increase of about $21 million.
  • 19% reduction in the All Injury Frequency Rate across the four mines.

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