Hecla Mining Company · NYSE:HL
Hecla Mining — Q1 2025 Earnings Presentation
26 slides from Hecla Mining's earnings presentation, May 2, 2025
Slide 1: First Quarter 2025 Conference Call
Largest Silver Producer in U.S. and Canada FIRST QUARTER 2025 Conference Call RESPONSIBLE. SAFE. INNOVATIVE.
Slide 2: Cautionary Statements
HECLA MINING COMPANY Cautionary Statements NYSE: HL FIRST QUARTER 2025 CONFERENCE CALL Cautionary Statement Regarding Forward-Looking Statements Qualified Person (QP) This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended,
Slide 3: Forward-Looking Vision
HECLA MINING COMPANY Forward-Looking Vision NYSE: HL FIRST QUARTER 2025 CONFERENCE CALL Drive continuous improvement through semi-automation and Operational advanced analytics Excellence Standardize systems and processes Improve mine planning Portfolio Strategic review of assets (Casa Berard
Slide 4: First Quarter Highlights
HECLA MINING COMPANY First Quarter Highlights NYSE: HL FIRST QUARTER 2025 CONFERENCE CALL Operational Highlights Financial Highlights Produced 4.1Moz of silver and 34,232 oz of Generated record sales of $261.3M and gold. record Adjusted EBITDA of $90.8M. Lucky Friday set a new quarterly millin
Slide 5: Financial Review
FINANCIAL REVIEW RESPONSIBLE. SAFE. INNOVATIVE. 5
Slide 6: Capital Allocation Priorities
HECLA MINING COMPANY Capital Allocation Priorities NYSE: HL FIRST QUARTER 2025 CONFERENCE CALL 2025 Capital Allocation Priorities: Free Cash Flow: Returns and Free Cash Flow Greens Creek, Lucky Friday ($ Million) Investment in organic growth 2020 – Q1/2025: $1,234M in cash flow Keno Hill first pro
Slide 7: First Quarter Financial Highlights
HECLA MINING COMPANY First Quarter Financial Highlights NYSE: HL FIRST QUARTER 2025 CONFERENCE CALL Net Debt to Adjusted Q1/25 Revenues By Metal Strong Silver Margins EBITDA ($/silver ounce) ($ Millions) Silver accounts for 45% of Q1 margin 65% of silver price Net Leverage Ratio of 1.5x revenues Rea
Slide 8: Operational Review
OPERATIONAL REVIEW RESPONSIBLE. SAFE. INNOVATIVE. 8
Slide 9: Greens Creek: Cornerstone Mine
HECLA MINING COMPANY Greens Creek: Cornerstone Mine NYSE: HL FIRST QUARTER 2025 CONFERENCE CALL Solid free cash flow generation Q1 silver production of 2Moz, with a 10% increase in silver grade milled over prior quarter. Silver grade milled averaged ~13.0 opt in March (Q1 average was 11.8 opt).
Slide 10: Lucky Friday: Record Tons Milled, Consistent Production
HECLA MINING COMPANY Lucky Friday: Record Tons Milled, Consistent Production NYSE: HL FIRST QUARTER 2025 CONFERENCE CALL Strong quarterly tons milled record New quarterly milling record of 108,745 tons, beating the prior record set in Q4 2024. Consistent Q/Q silver production of 1.3Moz and silve
Slide 11: Keno Hill: Strategic Growth Underway
HECLA MINING COMPANY Keno Hill: Strategic Growth Underway NYSE: HL FIRST QUARTER 2025 CONFERENCE CALL Phased approach to sustainable profitable production Q1 silver production of 772.4Koz at 305 tons per day (“tpd”) mill throughput. Continues to ramp up to higher tonnage rates, relying on the ex
Slide 12: Casa Berardi: Costs to Decline in Second Half
HECLA MINING COMPANY Casa Berardi: Costs to Decline in Second Half NYSE: HL FIRST QUARTER 2025 CONFERENCE CALL Long-term value with 12-year reserve mine plan Q1 gold production of 20.5Koz, decreased over the prior quarter due to lower underground grades mined and total tons milled. Expect stripp
Slide 13: Nevada Exploration Ramping Up in Q2 2025
HECLA MINING COMPANY Nevada Exploration Ramping Up in Q2 2025 NYSE: HL FIRST QUARTER 2025 CONFERENCE CALL Unlock hidden value in Nevada Operating History: Midas: 2.2Moz gold, 27.0Moz silver historically at 0.5 oz/ton gold equivalent; fully permitted mill with tailings capacity. Hollister: 0.5Moz
Slide 14: 2025 Key Themes
HECLA MINING COMPANY 2025 Key Themes NYSE: HL FIRST QUARTER 2025 CONFERENCE CALL Long term value creation at Continue to deleverage with Keno Hill, prioritizing permitting a focus on free cash flow and project execution generation Establish capital allocation Portfolio rationalization at framework e
Slide 15: Appendix
APPENDIX End Notes, Guidance, and GAAP reconciliations RESPONSIBLE. SAFE. INNOVATIVE. 15
Slide 16: End Notes
HECLA MINING COMPANY End Notes NYSE: HL FIRST QUARTER 2025 CONFERENCE CALL 1. Net debt to adjusted EBITDA is a non-GAAP measurement, a reconciliation of adjusted EBITDA and net debt to the closest GAAP measurements of net income (loss) and debt can be found in the appendix. It is an important measur
Slide 17: Guidance – Strong Silver Margins, Production Profile Maintained
HECLA MINING COMPANY NYSE: HL Guidance – Strong Silver Margins, Production Profile Maintained FIRST QUARTER 2025 CONFERENCE CALL Silver Production (Moz) Gold Production (Koz) Silver Equivalent (Moz)6 Gold Equivalent (Koz)6 Greens Creek * 8.1 – 8.8 44 – 48 18.0 – 19.5 200 – 210 2025 Production Lucky
Slide 18: GAAP Reconciliations
GAAP RECONCILIATIONS RESPONSIBLE. SAFE. INNOVATIVE. 18
Slide 19: Adjusted EBITDA
HECLA MINING COMPANY Adjusted EBITDA NYSE: HL FIRST QUARTER 2025 CONFERENCE CALL Reconciliation of Net Income (Loss) (GAAP) to Adjusted EBITDA (non-GAAP) Last Twelve Months Q1 2025 Q4 2024 Dollars in thousands (USD) Net income (loss) $ 70,427 $ 35,802 Interest expense 48,741 49,834 Income and mining
Slide 20: Cash Cost And AISC Reconciliation To GAAP
HECLA MINING COMPANY Cash Cost And AISC Reconciliation To GAAP NYSE: HL FIRST QUARTER 2025 CONFERENCE CALL Silver Total Cost of Sales (GAAP) to Cash Cost, Before By-product Credits and Cash Cost, After By-product Credits (non-GAAP) and All-In Sustaining Costs, Before By-product Credits, per Ounce an
Slide 21: Cash Cost And AISC Reconciliation To GAAP
HECLA MINING COMPANY Cash Cost And AISC Reconciliation To GAAP NYSE: HL FIRST QUARTER 2025 CONFERENCE CALL Greens Creek Total Cost of Sales (GAAP) to Cash Cost, Before By-product Credits and Cash Cost, After By-product Credits (non-GAAP) and All-In Sustaining Costs, Before By-product Credits, per Ou
Slide 22: Cash Cost And AISC Reconciliation To GAAP
HECLA MINING COMPANY Cash Cost And AISC Reconciliation To GAAP NYSE: HL FIRST QUARTER 2025 CONFERENCE CALL Lucky Friday Total Cost of Sales (GAAP) to Cash Cost, Before By-product Credits and Cash Cost, After By-product Credits (non-GAAP) and All-In Sustaining Costs, Before By-product Credits, per Ou
Slide 23: Cash Cost And AISC Reconciliation To GAAP
HECLA MINING COMPANY Cash Cost And AISC Reconciliation To GAAP NYSE: HL FIRST QUARTER 2025 CONFERENCE CALL Casa Berardi Total Cost of Sales (GAAP) to Cash Cost, Before By-product Credits and Cash Cost, After By-product Credits (non-GAAP) and All-In Sustaining Costs, Before By-product Credits, per Ou
Slide 24: Free Cash Flow (Non-GAAP) Reconciliation
HECLA MINING COMPANY Free Cash Flow (Non-GAAP) Reconciliation NYSE: HL FIRST QUARTER 2025 CONFERENCE CALL Reconciliation of cash provided by operating activities (GAAP) to Free Cash Flow (non-GAAP) for Greens Creek and Lucky Friday 2020 to YTD 2025 TOTAL YTD 2025 2024 2023 2022 2021 2020 in millions
Slide 25: Free Cash Flow (Non-GAAP) Reconciliation
HECLA MINING COMPANY Free Cash Flow (Non-GAAP) Reconciliation NYSE: HL FIRST QUARTER 2025 CONFERENCE CALL Greens Creek reconciliation of cash provided by operating activities (GAAP) to free cash flow (non-GAAP) TOTAL YTD 2025 2024 2023 2022 2021 2020 in millions Cash provided by operating activities
Slide 26: Thank You
THANK YOU RESPONSIBLE. SAFE. INNOVATIVE.