COEUR D’ALENE, Idaho–(BUSINESS WIRE)– Hecla Mining Company (NYSE:HL) today provided a summary of the activities undertaken to protect its business, employees and local communities from COVID-19. Hecla has corporately and within its mine sites taken significant measures including:
- Securing contracts that guarantee a $16 per ounce silver price for the second quarter and $1,450 and $1,650 per ounce gold price for the second and third quarter, respectively, while maintaining exposure to the upside, after transaction costs.
- Implemented and followed recommended health and hygiene protocols.
- Restricted mine site staff to essential personnel and contractors.
- Stockpiled critical mining supplies (up to six months’ worth in some cases) to protect against possible future supply disruptions.
- Completed the $475 million Senior Note refinancing in February, significantly de-risking the business by extending the maturity to 2028.
- Renewed our $250 million revolving credit facility for the next three years which could provide working capital needs if necessary.