Hecla Receives C$40 Million Investment from Ressources Quebec
March 05 2018 - 4:00PM
Business Wire
Hecla Mining Company (NYSE:HL) today announced that Ressources
Quebec, a wholly owned subsidiary of Investissement Québec, is
making a C$40 (US$31.6) million loan investment in Hecla (“the
investment”).
The investment will be in the form of a senior unsecured term
loan with a coupon rate of 4.68%, to mature at the same time as the
outstanding high yield notes, in 37 months. The proceeds are to be
used for development and expansion of the Casa Berardi mine located
in the Abitibi-Témiscamingue region in Quebec.
“Today’s announcement is another example of why Quebec is a
leading mining jurisdiction in North America,” said Phillips S.
Baker, Jr., Hecla’s President and CEO. “Since we acquired the Casa
Berardi mine, we have seen a significant improvement in its
operations, including doubling the throughput, increased gold
production and reserves, and a 70% reduction in the All Injury
Frequency Rate. We have also added about 250 workers to the mine
since it was acquired, bringing the total to around 950 currently.
We welcome this opportunity to work closer with the Quebec
government as we continue to grow and strengthen the
operation.”
ABOUT HECLA
Founded in 1891, Hecla Mining Company (NYSE:HL) is a leading
low-cost U.S. silver producer with operating mines in Alaska, Idaho
and Mexico, and is a growing gold producer with an operating mine
in Quebec, Canada. The Company also has exploration and
pre-development properties in seven world-class silver and gold
mining districts in the U.S., Canada, and Mexico, and an
exploration office and investments in early-stage silver
exploration projects in Canada.
ABOUT INVESTISSEMENT QUÉBEC
Investissement Québec’s mission is to foster the growth of
investment in Québec, thereby contributing to economic development
and job creation in every region. The Corporation offers businesses
a full range of financial solutions, including loans, loan
guarantees and equity investments, to support them at all stages of
their development. It is also responsible for administering tax
measures and prospecting for foreign investment.
Cautionary Statements Regarding Forward-Looking
Statements
Statements made or information provided in this news release
that are not historical facts are “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995 and “forward-looking information” within the meaning of
Canadian securities laws. Words such as “may”, “will”, “should”,
“expects”, “intends”, “projects”, “believes”, “estimates”,
“targets”, “anticipates” and similar expressions are used to
identify these forward-looking statements. Such forward-looking
statements or forward-looking information include statements or
information regarding silver production for 2017 on a consolidated
basis and at each of the Greens Creek, Lucky Friday and San
Sebastian mines, annual gold production for 2017 at Casa Berardi,
and fourth quarter 2017 production. The material factors or
assumptions used to develop such forward-looking statements or
forward-looking information include that the Company’s plans for
development and production will proceed as expected and will not
require revision as a result of risks or uncertainties, whether
known, unknown or unanticipated, to which the Company’s operations
are subject.
Forward-looking statements involve a number of risks and
uncertainties that could cause actual results to differ materially
from those projected, anticipated, expected or implied. These risks
and uncertainties include, but are not limited to, metals price
volatility, volatility of metals production and costs, litigation,
regulatory and environmental risks, operating risks, project
development risks, political risks, labor issues, ability to raise
financing and exploration risks and results. Refer to the Company’s
Form 10K and 10-Q reports for a more detailed discussion of
factors that may impact expected future results. The Company
undertakes no obligation and has no intention of updating
forward-looking statements other than as may be required by
law.
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version on businesswire.com: http://www.businesswire.com/news/home/20180305006133/en/
Hecla Mining CompanyMike Westerlund, 800-HECLA91
(800-432-5291)Vice President, Investor
Relationshmc-info@hecla-mining.comwww.hecla-mining.comorInvestissement
QuébecIsabelle Fontaine, 514-876-9359Senior Director, Public and
Governmental AffairsIsabelle.fontaine@invest-quebec.com
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