Hecla Announces Q2 2022 Production
July 12 2022 - 6:30AM
Business Wire
10% Increase in Silver Production Driven by
Record Lucky Friday Throughput
Hecla Mining Company (NYSE: HL) today announced its preliminary
production for the second quarter of 2022.1
HIGHLIGHTS
- Silver production of 3.6 million ounces, an increase of 10%
over the first quarter of 2022 due to record throughput at the
Lucky Friday Mine.
- Gold production of 45,718 ounces, an increase of 10% over the
first quarter, driven by better performance at the Casa Berardi
mine.
- Zinc production increased 12% over the prior quarter.
- Lead production increased 23% due to increased production at
Lucky Friday.
“All three of Hecla’s operating mines delivered solid
performances during the second quarter, driven by expected
increased silver production at Lucky Friday and gold production at
Casa Berardi, while Greens Creek had a very solid and consistent
quarter,” said Phillips S. Baker, Jr., President and CEO. “Lucky
Friday’s silver production surpassed the 1-million-ounce mark for
the quarter, totaling 1.2 million ounces, a 38% increase over the
previous quarter as we see the benefits to throughput resulting
from the continuous improvement of the UCB mining method, and
increasing grades. Casa Berardi’s production increased by 10% over
last quarter due to higher mill recoveries, grades, and
throughput.”
Baker continued, “On July 5th we announced the acquisition of
Alexco Resource Corp. which owns the Keno Hill silver district in
the Yukon Territory of Canada. In addition to being the largest
silver producer in the United States, with completion of necessary
development at Keno Hill, Hecla has the potential to become the
largest silver producer in Canada.”
OPERATIONS
Greens Creek
Greens Creek produced 2.4 million ounces of silver which is
consistent with the production in the first quarter. Gold
production of 12,413 ounces was 9% higher than prior quarter
production of 11,402 ounces due to increased grades. The mill
operated at an average of 2,303 tons per day (tpd).
Lucky Friday
At the Lucky Friday mine, 1.2 million ounces of silver were
produced compared to 888 thousand ounces in the prior quarter. The
increase is attributable to 25% higher throughput at the mill and a
9% increase in grades. The higher throughput was achieved upon
improved equipment availability and the commissioning of new
underground equipment which is better suited for the UCB mining
method. The mill operated at a record average throughput rate of
1,071 tpd for the quarter, highlighted by a record monthly
throughput rate in June of 1,140 tpd.
Casa Berardi
Casa Berardi produced 33,306 ounces of gold compared to 30,240
ounces in the prior quarter. The increase in production was the
result of higher throughput, recoveries, and grades. The mill
operated at an average of 4,413 tpd compared to an average of 4,291
tpd in the prior quarter, having achieved an all-time monthly
production record in May of 4,533 tpd.
(1)
See cautionary statement
regarding preliminary statements at the end of this release.
PRODUCTION SUMMARY
Three Months Ended
Six Months Ended
June 30, 2022
March 31, 2022
June 30, 2022
June 30, 2021
PRODUCTION
Increase/
(Decrease)
Increase/
(Decrease)
Silver
3,645,454
3,324,709
10
%
6,970,163
6,984,229
0
%
Gold (*)
45,718
41,642
10
%
87,360
111,143
(21
)%
Lead
13,331
10,863
23
%
24,194
22,244
9
%
Zinc
16,766
14,947
12
%
31,713
33,318
(5
)%
Greens Creek - Silver
2,410,599
2,429,782
(1
)%
4,840,381
5,143,317
(6
)%
Greens Creek - Gold
12,413
11,402
9
%
23,815
26,125
(9
)%
Lucky Friday - Silver
1,226,477
887,858
38
%
2,114,335
1,777,195
19
%
Casa Berardi - Gold
33,306
30,240
10
%
63,546
67,523
(6
)%
(*)
YTD gold production for the six
months ended June 30, 2021, includes production of 17,495 ounces
from the Nevada operations, which in 2022 are under care and
maintenance.
ABOUT HECLA
Founded in 1891, Hecla Mining Company (NYSE: HL) is the largest
silver producer in the United States. In addition to operating
mines in Alaska, Idaho and Quebec, Canada, the Company owns a
number of exploration and pre-development projects in world-class
silver and gold mining districts throughout North America.
Cautionary Statements Regarding Estimates and Forward-Looking
Statements
All measures of the Company's second quarter 2022 operating and
financial results and conditions contained in this release are
preliminary and reflect the Company’s expected results as of the
date of this release. Actual reported second quarter 2022 results
are subject to management's final review as well as review by the
Company's independent registered accounting firm and may vary
significantly from current expectations because of a number of
factors, including, without limitation, additional or revised
information and changes in accounting standards or policies or in
how those standards are applied.
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. 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 2021 Form 10-K filed February 22, 2022, 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.
Category: Press Release
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version on businesswire.com: https://www.businesswire.com/news/home/20220712005544/en/
Anvita M. Patil Vice President – Investor Relations and
Treasurer Cheryl Turner Communications Coordinator 800-HECLA91
(800-432-5291) Investor Relations Email: hmc-info@hecla-mining.com
Website: www.hecla-mining.com
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