Junior Mining Network
  • Dashboard
  • Newsroom
  • Featured Miners
  • Investor Clips
  • Heat Map
  • Market Data
  • Mining Topics
  • Watch List
Junior Mining Network
FireFox Gold

Hecla Mining Produces 17.2 Million Ounces of Silver and 233,929 Ounces of Gold in 2016

  • Silver
  • Production Results

NYSE: HL
www.hecla-mining.com

Mr. Phillips Baker reports:

COEUR D'ALENE, Idaho--(BUSINESS WIRE)--Hecla Mining Company (NYSE:HL) today announced preliminary silver and gold production results¹ for the fourth quarter and full year 2016 that exceeded the Company’s expectations.

2016 HIGHLIGHTS (compared to 2015)

  • Silver production of 17.2 million ounces, a 48% increase.
  • Gold production of 233,929 ounces, a 24% increase.
  • Silver equivalent production of 46.1 million ounces, or gold equivalent production of more than 631,000 ounces, a 23% increase.2
  • Lead production increased 6% and zinc production decreased 2%.
  • Cash, cash equivalents and short-term investments of approximately $198 million at December 31, 2016, an increase of about $43 million for the year.

“The 17.2 million ounces of silver produced and the 46 million silver equivalent ounces produced mark the third consecutive year we have broken our 125-year production record, a result of our strategy of investing in organic growth,” said Phillips S. Baker, Jr., Hecla’s President and CEO. “Through the down cycle we continued to build our production capacity with the start up of San Sebastian, the development of the pit at Casa Berardi and the construction of the #4 Shaft at Lucky Friday. The performance of these investments plus the ongoing strong performance of Greens Creek allowed Hecla to generate substantial cash flows this year and we expect well into the future.”

Greens Creek

At the Greens Creek mine for 2016, 9.3 million ounces of silver were produced, the highest silver production since Hecla acquired 100% of the project in 2008, and 53,912 ounces of gold were produced. For the fourth quarter, 2.2 million ounces of silver and 14,415 ounces of gold were produced. Increased silver production for the year resulted from higher grades and higher recovery, and lower gold production resulted from lower grades. The mill operated at an average of 2,229 tons per day (tpd) in 2016.

(1) See cautionary statement regarding preliminary statements at the end of this release.

(2) Silver equivalent calculation based on average actual price for each metal in the respective year. For 2016, the average actual prices were: $17.10 for Ag, $1,248 for Au, $0.85 for Pb, and $0.95 for Zn. Guidance calculation based on the following prices: $17.25 for Ag, $1,225 for Au, $0.90 for Pb, and $1.00 for Zn.

Lucky Friday

At the Lucky Friday mine for 2016, 3.6 million ounces of silver were produced, the most in 16 years, and 874,019 ounces of silver were produced in the fourth quarter. The 19% increase in silver production for the year was due to higher mill throughput, grades and recoveries. The mill operated at an average of 803 tpd in 2016.

The #4 Shaft Project is essentially complete and the shaft is now operational.

Casa Berardi

At the Casa Berardi mine for 2016, 145,974 ounces of gold were produced, including 8,547 ounces from the East Mine Crown Pillar pit which began operating in July. For the fourth quarter, 41,692 ounces of gold were produced including 5,034 ounces from the East Mine Crown Pillar pit. The mill operated at an average of 2,726 tpd in 2016, a record.

San Sebastian

At the San Sebastian mine for 2016, 4.3 million ounces of silver and 34,042 ounces of gold were produced and, for the fourth quarter, 860,071 ounces of silver and 7,042 ounces of gold were produced. The mill operated at an average of 391 tpd in 2016.

PRODUCTION SUMMARY

    Fourth Quarter Ended       Twelve Months Ended      
    December 31, 2016     December 31, 2015       December 31, 2016     December 31, 2015      
PRODUCTION             Increase/(Decrease)             Increase/(Decrease)  
Silver   3,976,551 oz.     3,644,309 oz.   9 %   17,177,315 oz.     11,591,602 oz.   48 %  
                               
Gold   63,149 oz.     60,350 oz.   5 %   233,929 oz.     189,327 oz.   24 %  
                               
Lead   10,631 tons     11,439 tons   (7 %)   42,471 tons     39,965 tons   6 %  
                               
Zinc   18,195 tons     19,036 tons   (4 %)   68,516 tons     70,073 tons   (2 %)  
                               
Greens Creek   2,232,855 silver oz.     2,568,025 silver oz.   (13 %)   9,253,543 silver oz.     8,452,153 silver oz.   10 %  
                               
Greens Creek   14,415 gold oz.     17,198 gold oz.   (16 %)   53,912 gold oz.     60,566 gold oz.   (11 %)  
                               
Lucky Friday   874,019 silver oz.     985,698 silver oz.   (11 %)   3,596,009 silver oz.     3,028,134 silver oz.   19 %  
                               
Casa Berardi   41,692 gold oz.     42,282 gold oz. 1   (1 %)   145,974 gold oz.     127,891 gold oz.   14 %  
                               
San Sebastian   860,071 silver oz.     81,677 silver oz.2   N/A     4,294,123 silver oz.     81,677 silver oz.1   N/A    
                               
San Sebastian   7,042 gold oz.     869 gold oz.2   N/A     34,042 gold oz.     869 gold oz.1   N/A    
                               

(1) Casa Berardi also produced 9,606 ounces of silver in the fourth quarter 2016 and 33,640 ounces of silver for 2016.

(2) San Sebastian produced its first doré on December 22, 2015.

Hecla expects to report fourth quarter and 2016 financial results as well as its expectations for 2017 on February 23, 2017.

ABOUT HECLA

Founded in 1891, Hecla Mining Company (NYSE:HL) is a leading low-cost U.S. silver producer with operating mines in Alaska, Idaho and Mexico, and is a growing gold producer with an operating mine in Quebec, Canada. The Company also has exploration and pre-development properties in seven world-class silver and gold mining districts in the U.S., Canada, and Mexico, and an exploration office and investments in early-stage silver exploration projects in Canada. 

MORE MINING NEWS

OceanaGold Reports Full Year 2018 Financials
Nighthawk makes additional high-grade discoveries within its 100% owned Indin Lake Gold Property
Newmont Mining Announces Canadian Competition Bureau Clearance for Combination with Goldcorp
Barrick Gold Confirms Continuing Commitment to PNG Government and Porgera Community
Pretivm Reports 2018 Results and 2019 Outlook
Agnico Eagle Mines Reports Fourth Quarter and Full Year 2018 Results - Three-Year Guidance Outlines Growing Production with Stable to Declining Unit Costs; Meliadine Mill Commissioning Underway with Project Ahead of Schedule and Under Budget
First Quantum Minerals Reports Fourth Quarter and Full Year 2018 Results
Lundin Mining Fourth Quarter and Full Year Results
Yamana Gold Announces Fourth Quarter and Full Year 2018 Results
North American Palladium Reports $167.8M in Adjusted EBITDA for 2018, Announces Quarterly Dividend
New Gold Reports Fourth Quarter and Year-End Financial Results
Asanko Gold Reports Q4 and Full Year 2018 Results, and Provides 2019 Guidance

GET DAILY NEWS FLOW

Sign Up To Receive All Morning
News To Your Email Inbox

Hecla Mining

ADD TO WATCH LIST
Last Trade: US$2.69
Daily Change: 0.11 4.26
Daily Volume: 4,320,784
Market Cap: US$1.070B
February 14, 2019
Hecla Mining Reports Record Silver, Gold and Lead Reserves
January 15, 2019
Hecla Mining Reports 10.4 Million Ounces of Silver and 262,103 Ounces of Gold Production in 2018
November 08, 2018
Hecla Mining Reports Third Quarter 2018 Results
November 06, 2018
Hecla Mining Reports Continued Drilling Success in the Third Quarter
October 26, 2018
Hecla Mining Third Quarter 2018 Financial Results Conference Call and Webcast
October 23, 2018
Hecla Mining Reports 2.5 Million Ounces of Silver and 72,995 Ounces of Gold Production in Third Quarter 2018
October 02, 2018
Hecla Mining Increases Holdings in Dolly Varden Silver Corporation
September 14, 2018
Hecla Mining Files NI 43-101 Technical Report on Fire Creek
August 09, 2018
Hecla Mining Reports Second Quarter 2018 Results
August 07, 2018
Hecla Mining Reports Continued Discoveries at the Mines, Integrates Nevada, and Advances Key Projects
July 23, 2018
Hecla Mining Completes Acquisition of Klondex Mines Ltd.
July 13, 2018
Hecla Mining Reports 2.6 Million Ounces of Silver and 60,313 Ounces of Gold Production in Second Quarter 2018
LOAD MORE NEWS
LOAD MORE NEWS

Nexus Gold

Nexus Gold

Nexus Gold is building a portfolio of gold projects in Burkina Faso, West Africa that offer significant discovery potential. The Company controls a 178-square kilometer land package within the Boromo greenstone belt as part of its Niangouela concession, where recent phase one drilling intercepted 26.69 g/t gold over 4.85 meters (including 120.0 g/t gold over 1.0 meter) and 4.0 g/t gold over 6.2 meters. Rock chip sampling has reported assays as high as 2,950 g/t gold and phase two drilling is set to commence... VIEW PROFILE

© 2019 Junior Mining Network. All Rights Reserved.

  • Privacy Policy
  • Disclaimer
  • RSS
  • Contact