Hecla Mining Reports Q3 Silver Output of 2.6 Million Ounces

Hecla Mining Co. (NYSE:HL) released its Q3 results, commenting that it incurred a net loss applicable to common shareholders of $10 million, or $0.03 per share. After adjustments, that equates to a net loss applicable to common shareholders of $20.5 million, or $0.05 per share.
Other Q3 highlights include:

• Sales of $104.9 million.
• Adjusted EBITDA of $17.8 million.²
• Operating cash flow of $26.8 million.
• Total silver production of 2.6 million ounces at a cash cost, after by-product credits, per silver ounce, of $7.52.³
• Gold production of 43,635 ounces, of which Casa Berardi produced 29,259 ounces at a cash cost, after by-product credits, per gold ounce of $793.³
• Cash and cash equivalents of $174.5 million at September 30, 2015.
• San Sebastian, Hecla’s fourth operating mine, expected to produce ore by year end. Stripping has started exposing the Middle Vein.
• Strong exploration success at San Sebastian and Casa Berardi.

Phillips S. Baker Jr., president and CEO of Hecla, commented:

During the third quarter we delivered solid production performance, with Greens Creek continuing to lead the way. Cash costs, after by-product credits, were higher because of the weak price of our by-product metals. Hecla’s cash flow and balance sheet have allowed continued investment in capital improvements, growth and exploration initiatives; the benefits of which are just beginning to be realized. We expect San Sebastian to start processing ore by year end, Casa Berardi is accessing a newly discovered, high-grade stope and the Lucky Friday has returned to full production after replacing the main ventilation booster fans.

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