Hecla Mining Reports Third Quarter 2021 Financial and Operating Results

About this update from Hecla Mining Company

[{"type":"text","content":"COEUR D'ALENE, Idaho / Nov 04, 2021 / Business Wire / Hecla Mining Company (NYSE:HL) today announced third quarter 2021 financial and operating results. HIGHLIGHTS* Sales of $193.6 million, consistent with the prior year quarter. Generated $42.7 million of cash provided by operating activities with $26.9 million of additions to properties, plant, equipment and mineral interests, resulting in $15.8 million of quarterly free cash flow reflecting increased exploration spend.1 Record quarterly exploration spend of $13.7 million. Casa Berardi achieved record quarterly throughput of nearly 400,000 tons as the mill improvements delivered 13% higher gold production. Testing at the Lucky Friday of a new drill and blast mining method called Underhand Closed Bench (UCB) is showing good performance in controlling seismicity and improving safety with the potential to increase productivity. Strong balance sheet with $190.9 million in cash and over $420 million of available liquidity. Purchased carbon credits and anticipate offsetting scope 1 and scope 2 emissions to have net zero emissions in 2021. \"Hecla’s results reflect our commitment to improve and innovate our operations while delivering free cash flow,” said Phillips S. Baker Jr., President & CEO. “Casa Berardi achieved record quarterly throughput as our optimization programs in the mill increase recovery and ounce production. At the Lucky Friday, we continue to test our new drill and blast mining method, called Underhand Closed Bench, that allows improved management of seismicity which should increase safety and could possibly increase throughput. Greens Creek continued to lead the way because of its very low costs and despite staff shortages forcing a change in mine sequencing.\" Baker continued, \"This operational performance allowed us to enhance our silver-linked dividend for the second time this year and return about 20% of our free cash flow to shareholders, while having our largest exploration program in the company's history. In addition, while Hecla already has one of the industry’s lowest carbon footprints, we have taken the next step by investing in carbon credits that allows us to be net zero for our 2021 scope 1 and scope 2 emissions. We will continue our focus on reducing emissions as well as investing in credits in the future.\" * All comparisons to the third quarte...

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