Silver production increased and zinc production
is steady
Hecla Mining Company (NYSE: HL) today announced its preliminary
silver and gold production for the first quarter of 2022.1
HIGHLIGHTS
- Silver production of 3.3 million ounces, an increase of 3% over
the fourth quarter of 2021 due to higher grades mined at Greens
Creek.
- Gold production of 41,642 ounces.
- Lead and Zinc production was in line with the prior
quarter.
- Silver equivalent production of 9.7 million ounces, gold
equivalent production of 123,537 ounces.2
“Hecla, United States’ largest silver producer with the
country’s largest reserves, saw solid production from all three
operations,” said Hecla’s President and CEO Phillips S. Baker, Jr.
“Greens Creek’s production increased due to slightly higher grades.
Lucky Friday’s production has now had six quarters with production
above 830 thousand ounces, positioning production to grow to over a
million ounces a quarter for the remainder of the year. At Casa
Berardi, production was as planned with the mill processing more
160 Pit material.”
“Hecla is on track to grow silver production this year and for
each of the next two years while also being the United States’
third largest zinc producer. Zinc, like silver, is a critical
mineral in the energy transition and is approaching its all-time
high price set 15 years ago.”
OPERATIONS
Greens Creek
Greens Creek produced 2.4 million ounces of silver and 11,402
ounces of gold compared to 2.3 million ounces of silver and 10,229
ounces of gold in the prior quarter. The increase in production was
primarily due to higher grades. The mill operated at an average of
2,352 tons per day (tpd).
Casa Berardi
Casa Berardi produced 30,240 ounces compared to 37,266 ounces in
the prior quarter. The anticipated decrease in production was
expected since surface tons are lower grade. The increase in
surface tons is from the 160 Pit, which commenced ore production in
the fourth quarter of 2021. The mill operated at an average of
4,291 tpd compared to an average of 4,207 tpd in the prior
quarter.
Lucky Friday
At the Lucky Friday mine, 888 thousand ounces of silver were
produced compared to 955 thousand ounces in the prior quarter.
Fewer tons and lower silver grades were mined due to equipment
delays that affected mine sequencing. The equipment is being
received this quarter. The mill operated at an average of 864
tpd.
(1)
See cautionary statement regarding
preliminary statements at the end of this release.
(2)
Silver and gold equivalent calculation
based on average actual prices for each metal in the first quarter
as follows: $23.94 for Ag, $1,873.63 for Au, $1.06 for Pb, and
$1.70 for Zn.
PRODUCTION SUMMARY
Quarter Ended
March 31, 2022
December 31, 2021
% Increase (decrease)
PRODUCTION
Silver (oz)
3,324,709
3,226,927
3%
Gold (oz)
41,642
47,977
(13)%
Lead (tons)
10,863
10,863
0%
Zinc (tons)
14,947
14,754
1%
Greens Creek – Silver (oz)
2,429,782
2,262,635
7%
Greens Creek – Gold (oz)
11,402
10,229
11%
Lucky Friday – Silver (oz)
887,858
955,401
(7)%
Casa Berardi – Gold (oz)
30,240
37,266
(19)%
Nevada Operations – Gold (oz) 1
- -
482
n/a
(1)
At the Nevada operations,
stockpiled ore milled in 2021.
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 first quarter 2022 operating
results contained in this release are preliminary and reflect the
Company’s expected results as of the date of this release. Actual
reported first 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. Forward-looking
statements in this news release may include, without limitations,
Lucky Friday silver production may grow to over a million ounces a
quarter for the remainder of the year, and the Company is on track
to grow silver production this year and for each of the next two
years. 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/20220412005524/en/
Anvita M. Patil Vice President – Investor Relations and
Treasurer
Jeanne DuPont Senior Communications Coordinator
800-HECLA91 (800-432-5291) Investor Relations Email:
hmc-info@hecla-mining.com Website: www.hecla-mining.com
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