Hecla Mining Posts Higher Silver, Gold Production for Q3

Hecla Mining Co. (NYSE:HL) announced its Q3 results, noting that it put out 2.9 million ounces of silver, up 25 percent from the year-ago quarter. Cash costs after by-product credits came to $5.43 per silver ounce.

Meanwhile, the company’s gold production rose 15 percent, hitting 42,501 ounces.

Other highlights include:

• Third quarter silver equivalent production of 7.7 million ounces, and 22.6 million silver equivalent ounces for the first nine months of 2014.
  
• Sales of $135.5 million – a 27% increase over the prior year quarter.
• Adjusted EBITDA of $42.6 million – a 38% increase over the prior year quarter.
• Operating cash flow of $1.7 million, which included cash payments of $55.4 million to satisfy the remaining obligation for the Coeur d’Alene Basin litigation settlement which was almost entirely funded by proceeds received from the exercise of the remaining outstanding warrants.
• Continued improvement at Lucky Friday with silver production increasing 19% over the second quarter of 2014 and 103% over the prior year quarter.
• Cash and cash equivalents of $222 million at September 30, 2014, unchanged from the end of the second quarter of 2014.
• Declaration of $0.0025 cash dividend on common stock under the Company’s dividend policy.

Click here to read the full Hecla Mining Co. (NYSE:HL) press release.