Silver-gold-lead-zinc miner Hecla Mining’s Mar 2019 qtr (Q1 19) net loss has blown out to $US25.7M from Q4 18’s 23.8M loss, hit by $13.8M losses at Nevada, US, and lower production at Casa Berardi in Quebac, Canada.
The bottom line came despite gross profit up to $3.4M from a $1.26M loss, sales to $152.6M from $136.5M and adjusted EBITDA to $33.4M from $28.1M.
Cash from operating activities was steady at $20M from $19M on silver production up to 2.9Moz from Q4 18’s 2.7Moz, but with gold falling to 60,021oz from 70,987oz at silver cash costs, after by-product credits, down to $2.26oz from $4.01oz and AISC also down to $9.34oz from $13.53oz.
The silver rise came on a top performance from Hecla’s flagship Greens Creek mine, in Alaska, US, contributing 14,328oz gold and 2.23Moz silver. Total lead production jumped to 5,785t from 4,704t and zinc to 13,943t from 13,711t.
Hecla finished Q1 19 with cash/equivalents and short-term investments of $11.8M.