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