Hecla Complies With the Quebec Government COVID-19 Order
March 24 2020 - 6:30AM
Business Wire
Hecla Mining Company (NYSE:HL) today announced it is suspending
operations at Casa Berardi until April 13, 2020 to comply with the
Government of Quebec’s order for the mining industry in the fight
against COVID-19. Casa Berardi will have limited operations to
protect the facilities and environment while operations are
suspended.
“The Government of Quebec ordered the mining industry to reduce
to minimum operations as part of the fight against the COVID-19
virus, so we are suspending our Casa Berardi operations,” said
Phillips S. Baker, Jr., Hecla’s President and CEO. “We do not have
a case of COVID-19, so we are disappointed for our workers and
their families, our suppliers and other stakeholders that we have
had to take this action. We look forward to Casa Berardi resuming
normal operations as soon as possible.”
The Company’s estimates for production and cost will be reviewed
with the first quarter earnings release.
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 operating mines in
Quebec, Canada and Nevada. The Company also has exploration and
pre-development properties in eight world-class silver and gold
mining districts in the U.S., Canada, and Mexico.
Cautionary Statements Regarding Forward Looking
Statements
This release contains “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
which are intended to be covered by the safe harbor created by such
sections and other applicable laws, including Canadian securities
laws. When a forward-looking statement expresses or implies an
expectation or belief as to future events or results, such
expectation or belief is expressed in good faith and believed to
have a reasonable basis. However, such statements are subject to
risks, uncertainties and other factors, which could cause actual
results to differ materially from future results expressed,
projected or implied by the forward-looking statements.
Forward-looking statements often address our expected future
business and financial performance and financial condition; and
often contain words such as “anticipate,” “intend,” “plan,” “will,”
“could,” “would,” “estimate,” “should,” “expect,” “believe,”
“project,” “target,” “indicative,” “preliminary,” “potential” and
similar expressions. 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.
Estimates or expectations of future events or results are based
upon certain assumptions, which may prove to be incorrect, which
could cause actual results to differ from forward-looking
statements. Such assumptions, include, but are not limited to: (i)
there being no significant change to current geotechnical,
metallurgical, hydrological and other physical conditions; (ii)
permitting, development, operations and expansion of the Company’s
projects being consistent with current expectations and mine plans;
(iii) political/regulatory developments in any jurisdiction in
which the Company operates being consistent with its current
expectations; (iv) certain price assumptions for gold, silver, lead
and zinc; (v) prices for key supplies being approximately
consistent with current levels; (vi) the accuracy of our current
mineral reserve and mineral resource estimates; (vii) 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; (viii) sufficient
workforce is available and trained to perform assigned tasks; (ix)
factors do not arise that reduce available cash balances; (x) there
being no material increases in our current requirements to post or
maintain reclamation and performance bonds or collateral related
thereto, and (xi) the timeline for when normal operations can
resume at Casa Berardi.
In addition, material risks that could cause actual results to
differ from forward-looking statements include, but are not limited
to: (i) gold, silver and other metals price volatility; (ii)
operating risks; (iii) currency fluctuations; (iv) increased
production costs and variances in ore grade or recovery rates from
those assumed in mining plans; (v) community relations; (vi)
conflict resolution and outcome of projects or oppositions; (vii)
litigation, political, regulatory, labor and environmental risks;
(viii) exploration risks and results, including that mineral
resources are not mineral reserves, they have not demonstrated
economic viability and there is no certainty that they can be
upgraded to mineral reserves through continued exploration; and
(ix)) we are unable to remain in compliance with all terms of the
credit agreement in order to maintain continued access to the
revolver. For a more detailed discussion of such risks and other
factors, see the Company’s 2019 Form 10-K, filed on February 13,
2020, and Form 10-Qs filed on May 9, 2019, August 7, 2019 and
November 7, 2019 with the Securities and Exchange Commission (SEC),
as well as the Company’s other SEC filings. The Company does not
undertake any obligation to release publicly revisions to any
“forward-looking statement,” including, without limitation,
outlook, to reflect events or circumstances after the date of this
presentation, or to reflect the occurrence of unanticipated events,
except as may be required under applicable securities laws.
Investors should not assume that any lack of update to a previously
issued “forward-looking statement” constitutes a reaffirmation of
that statement. Continued reliance on “forward-looking statements”
is at investors’ own risk.
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version on businesswire.com: https://www.businesswire.com/news/home/20200324005235/en/
Mike Westerlund Vice President – Investor Relations 800-HECLA91
(800-432-5291) Investor Relations Email: hmc-info@hecla-mining.com
Website: www.hecla-mining.com
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