Hecla Mining Company
Hecla Mining Company
Full text is available to Level 2 subscribers only
Subscribe to Mining Business Media
Full access to Mining Business Media's unique blend of global mining sector news and commentary is available by subscription only.
$A275.00 per year*
(*up to 10 users)
GST included in Australia
Direct debit/cheque/credit card:
Click here
Subscription inquiries, email subscribe@miningbusiness.net or call 61+413 772 044.
Related Content
The US’ largest silver miner Hecla Mining has had a tough Sept 2021 qtr (Q3 21) with all its silver-gold-lead-zinc production down, headed by silver plunging to 2.67Moz from Q2 21’s 3.5Moz due to lower grades at Greens Creek, Alaska, based on mine sequencing.
Overall gold output fell to 42,206oz from 59,139oz, lead to 9,904t from 11,540t and zinc to 15,545t from 17,211t.
Despite mostly increased metals production from its US and Canada operations, Hecla Mining’s June 2021 qtr (Q2 21) net income has plunged to $US647,000 from Q1 21’s $18.8M, with gross profit down to $59.2M from $64.8M, despite sales up to 217.9M from $210.9M and cash from operating activities also better to $86.3M from $37.9M.
With Mar 2021 qtr (Q1 21) silver, gold, lead and zinc production from Hecla Mining’s US and Canada operations all up on Q4 20, the company has lifted net income to $US18.8M from $0.8M, with adjusted net income to $30.6M from $13M on sales up to $210.9M from$188.89M.
The adjusted EBITDA hit a record $86.1M from $55.8M on gross profit up to $64.8M from $46.76M due primarily to higher metal prices and production, albeit with cash from operating activities down to $37.9M from $64.9M and free cash flow to $16.5M from $28.3M.
Hecla Mining has had a generally good Mar 2021 qtr (Q1 21) with preliminary silver, gold, lead and zinc production from its US and Canada operations all up on Q4 20.
The largest silver producer in the US lifted silver production to 3.5Moz from 3.35Moz, gold to 52,004oz from 49,014oz, lead to 10,703t from 9,507t and zinc to 16,107t from 14,413oz.
Hecla Mining has largely overcome its COVID pandemic disruptions in Canada and Mexico, cutting its Dec 2020 year (FY/CY 20) net loss to $US16.8M from the previous year’s $99.5M loss on a gross profit up to $145.7M from $23.4M.
After the production/income sucking fall-out from Covid-19 on its 5 operations spanning Alaska, Idaho and Mexico, Hecla Mining has managed a $US27.5M turnaround for Sept 2020 qtr (Q3 20) net income of $13.5M from Q2 20’s $14M loss.
It was all green lights with sales up to $199.7M from $166.3M and adjusted income jumping to $24.2M from $7.3M, taking gross profit to $53.5M from $34M and adjusted EBITDA to $75.7M from $61.3M for cash from operating activities up to $73.4M from $37.5M.
While Covid-19 hit Hecla Mining has managed to lift Sept 2020 qtr (Q3 20) silver production to 3.5Moz from Q2 20’s 3.4Moz, gold output has plunged to 41,174oz from 59,982oz, taking silver equivalent production down to 9Moz from 12.5Moz and gold equiv to 114,998oz from 119,037oz.
Lead was better, up to 9,750tons from 8,978t and zinc to 17,997t from 17,856t.
A Mar 2020 qtr (Q1 20) net loss blowout to $US17.2M from Q4 19’s $8M loss has prompted miner Hecla Mining to take the knife to its FY/CY20 production expectations.
The result was on silver, gold, lead, zinc sales down to $136.9M from $224.9M, gross profit to $11.4M from $25.3M and adjusted EBITDA plunging to $37.8M from $62M. Silver production of fell to 3.2Moz from 3.4Moz, gold to 58,792oz from 74,773oz, lead to 5,893t from 6,804t and zinc to 12,847t from 16,185t.
Hecla Mining’s Q1 20 loss blowout to $17.2M on lower production of all its commodities sees FY/CY20 gold/silver expectations cut
With 2 of Hecla Mining’s 5 operations now shut by govt orders to combat the coronavirus pandemic, the company’s Mar 2020 qtr (Q1 20) preliminary silver production has fallen to of 2.98Moz from Q4 19’s 3.4Moz, gold to 57,238oz from 74,773oz, lead to 5,316t from 6,804t and zinc down to 12,576t from 16,185t.