Hecla Announces Second Quarter Production
10% increase in silver production over year-to-date 2023
HIGHLIGHTS
Year to Date ("YTD") 2024 compared to YTD 2023
- 10% increase in silver production
-
Keno Hill produced 1.5 million ounces of silver, with milled throughput of 341 tons per day ("tpd") YTD and 406 tpd in the second quarter - Record quarterly throughput at Lucky Friday of 1,181 tpd
-
4% increase in
Casa Berardi's gold production
“Hecla produced 4.5 million silver ounces during the quarter, an increase of 6% over the prior quarter, reflecting a full quarter of production at Lucky Friday with record throughput, improved throughput at Keno Hill and another solid performance by
Boggs continued, “With
OPERATIONS
While the Company’s focus on improving safety and environmental processes has delivered increased operational consistency, additional investment in infrastructure and continued focus on safety, environmental, permitting and mining practices, as well as relations with First Nation of Na-Cho Nyäk Dun remain key to delivering long term value at this operation.
PRODUCTION SUMMARY
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Three Months Ended |
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Six Months Ended |
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|
|
|
|
|
|
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2024 |
2024 |
|
2024 |
2023 |
|
Production |
|
|
Increase/
|
|
|
Increase/
|
Silver (oz) |
4,458,484 |
4,192,098 |
6 % |
8,650,582 |
7,873,529 |
10 % |
Gold (oz) |
37,324 |
36,592 |
2 % |
73,916 |
74,822 |
(1)% |
Lead (tons) |
13,586 |
12,100 |
12 % |
25,686 |
26,307 |
(2)% |
Zinc (tons) |
16,191 |
16,211 |
(0)% |
32,402 |
32,734 |
(1)% |
|
2,243,551 |
2,478,594 |
(9)% |
4,722,145 |
5,128,533 |
(8)% |
|
14,137 |
14,588 |
(3)% |
28,725 |
31,235 |
(8)% |
|
1,308,155 |
1,061,065 |
23 % |
2,369,220 |
2,549,130 |
(7)% |
|
900,440 |
646,312 |
39 % |
1,546,752 |
184,264 |
739 % |
|
23,187 |
22,004 |
5 % |
45,191 |
43,587 |
4 % |
(1) See cautionary statement regarding preliminary statements at the end of this release.
ABOUT HECLA
Founded in 1891,
Cautionary Statements Regarding Estimates and Forward-Looking Statements
All measures of the Company's second quarter 2024 operating results contained in this release are preliminary and reflect the Company’s expected results as of the date of this release. Actual reported second quarter 2024 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.
This news 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. 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 may include, without limitation, that Keno Hill’s 2024 production is expected to exceed 2.7 million ounces. 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) the exchange rate for the USD/CAD being approximately consistent with current levels; (v) certain price assumptions for gold, silver, lead and zinc; (vi) prices for key supplies being approximately consistent with current levels; (vii) the accuracy of our current mineral reserve and mineral resource estimates; (viii) there being no significant changes to the availability of employees, vendors and equipment; (ix) 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; (x) counterparties performing their obligations under hedging instruments and put option contracts; (xi) sufficient workforce is available and trained to perform assigned tasks; (xii) weather patterns and rain/snowfall within normal seasonal ranges so as not to impact operations; (xiii) relations with interested parties, including First Nations and
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; and (vi) litigation, political, regulatory, labor and environmental risks. For a more detailed discussion of such risks and other factors, see the Company's 2023 Form 10-K filed on
View source version on businesswire.com: https://www.businesswire.com/news/home/20240710768765/en/
Vice President – Investor Relations and Treasurer
Communications Coordinator
800-HECLA91 (800-432-5291)
Investor Relations
Email: hmc-info@hecla.com
Website: www.hecla.com
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