Latest news with #Hecla
Business Wire
7 days ago
- Business
- Business Wire
Hecla Mining Company Announces Partial Redemption Notice of 7.25% Senior Notes
COEUR D'ALENE, Idaho--(BUSINESS WIRE)--Hecla Mining Company (NYSE:HL) announces the issuance of a notice of partial redemption for $212 million of its outstanding $475 million 7.25% Senior Notes due 2028 (the 'Notes'). Strategic Capital Optimization During and following the end of the second quarter 2025, Hecla utilized its At-The-Market ('ATM') financing facility to sell approximately 36 million common shares at an average price of $6.10 per share to raise the proceeds to fund the partial redemption of the Notes. This strategic use of the ATM minimizes shareholder dilution compared to traditional equity financing methods, which typically entail large discounts to the share price, while strengthening the Company's balance sheet. Pursuant to the terms of the indenture governing the Notes, the redemption price will equal 101.813% of the principal amount of Notes redeemed. The redemption is expected to occur on or about August 19, 2025, and will be effected on a pro rata basis. This news release does not constitute a Notice of Redemption of the Notes. If you hold Notes, please refer to the Notice of Redemption for redemption instructions and other information regarding the partial redemption of the Notes. In addition to the partial redemption of the Notes, subsequent to quarter end, the Company repaid in full from free cash flow generation its CAD$50 million Senior Notes issued in 2020 to Investissement Quebec, an arm of the Quebec government. "This financing strategy demonstrates our commitment to prudent capital management while positioning Hecla for sustained value creation," said Rob Krcmarov, President and CEO of Hecla Mining Company. "By reducing our debt burden through this efficient capital raise, we're enhancing financial flexibility and creating opportunities for strategic reinvestment in our business to accelerate investments in our potential high-return growth opportunities." Reinvestment in Value Creation The interest savings from this debt reduction strengthens the Company's balance sheet while enabling strategic reinvestment into the highest return opportunities across its portfolio of projects. Capital will be directed toward three key areas that meet the Company's rigorous return criteria: optimizing production at current operations, expanding high-potential exploration programs, and advancing priority development projects. These targeted investments are designed to accelerate value creation from our existing asset base for sustained long-term growth. The Company's mining operations are demonstrating their ability to produce strong free cash flow at today's robust metal prices. If metals prices continue at these levels, the Company expects future free cash flow generation to be sufficient to meet debt service requirements and support continued value-enhancing activities. In addition, proceeds from any future asset divestitures would also be available for further balance sheet strengthening and potential further debt reduction. Balanced Financial Approach This balanced capital allocation approach allows the Company to optimize its capital structure while maintaining operational flexibility and pursue growth opportunities in an accelerated manner. The financing strategy reflects the Company's commitment to operational excellence and strategic development initiatives that drive shareholder value. "Our strong operational free cash flow generation provides us with the financial foundation to both service our debt and invest in growth," added Russell D. Lawlar, Senior Vice President and Chief Financial Officer. "The utilization of our ATM facility to reduce debt positions us well for the future and allows us to capitalize on opportunities within our portfolio, while minimizing dilution to our shareholders." ABOUT HECLA Founded in 1891, Hecla Mining Company (NYSE: HL) is the largest silver producer in the United States and Canada. In addition to operating mines in Alaska, Idaho, and Quebec, Canada, the Company is developing a mine in the Yukon, Canada, and owns a number of exploration and pre-development projects in world-class silver and gold mining districts throughout North America. Cautionary Statement Regarding Forward-Looking Statements This news release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws, including Canadian securities laws. Words such as 'may', 'will', 'should', 'expects', 'intends', 'projects', 'believes', 'estimates', 'targets', 'anticipates' and similar expressions are used to identify these forward-looking statements. Such forward-looking statements may include, without limitation: (i) expected timing of the redemption of the Notes; (ii) expected free cash flow generation and uses thereof; (iii) the Company's ability to satisfy its future debt service obligations, including statements regarding future metals pricing; (iv) expected reduction in debt and strengthening of the Company's balance sheet; and (v) expected future opportunities, including high-return growth opportunities and other value creation opportunities. The material factors or assumptions used to develop such forward-looking statements or forward-looking information include that the Company's plans for development and production will proceed as expected and will not require revision as a result of risks or uncertainties, whether known, unknown or unanticipated, to which the Company's operations are subject. Estimates or expectations of future events or results are based upon certain assumptions, which may prove to be incorrect, which could cause actual results to differ from forward-looking statements. Such assumptions, include, but are not limited to: (i) there being no significant change to current geotechnical, metallurgical, hydrological and other physical conditions; (ii) permitting, development, operations and expansion of the Company's projects being consistent with current expectations and mine plans; (iii) political/regulatory developments in any jurisdiction in which the Company operates being consistent with its current expectations; (iv) the exchange rate for the USD/CAD being approximately consistent with current levels; (v) certain price assumptions for gold, silver, lead and zinc; (vi) prices for key supplies being approximately consistent with current levels; (vii) the accuracy of our current mineral reserve and mineral resource estimates; (viii) there being no significant changes to the availability of employees, vendors and equipment; (ix) the Company's plans for development and production will proceed as expected and will not require revision as a result of risks or uncertainties, whether known, unknown or unanticipated; (x) counterparties performing their obligations under hedging instruments and put option contracts; (xi) sufficient workforce is available and trained to perform assigned tasks; (xii) weather patterns and rain/snowfall within normal seasonal ranges so as not to impact operations; (xiii) relations with interested parties, including First Nations and Native Americans, remain productive; (xiv) maintaining availability of water rights; (xv) factors do not arise that reduce available cash balances; and (xvi) there being no material increases in our current requirements to post or maintain reclamation and performance bonds or collateral related thereto. In addition, material risks that could cause actual results to differ from forward-looking statements include but are not limited to: (i) gold, silver and other metals price volatility; (ii) operating risks; (iii) currency fluctuations; (iv) increased production costs and variances in ore grade or recovery rates from those assumed in mining plans; (v) community relations; and (vi) litigation, political, regulatory, labor and environmental risks. For a more detailed discussion of such risks and other factors, see the Company's 2024 Form 10-K filed on February 13, 2025, for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation and has no intention of updating forward-looking statements other than as may be required by law.
Yahoo
21-05-2025
- Business
- Yahoo
Hecla Releases 2024 Sustainability Report
COEUR D'ALENE, Idaho, May 21, 2025--(BUSINESS WIRE)--Hecla Mining Company (NYSE:HL) has released its 2024 Sustainability Report, highlighting the Company's environmental, social and governance (ESG) performance. "Throughout Hecla's storied history, we have distinguished ourselves not only as a preeminent silver producer but as a pioneer in sustainable mining practices," said Rob Krcmarov, President and CEO of Hecla Mining Company. "In 2024, we demonstrated that responsible mining goes hand-in-hand with financial and operational success, achieving our second-highest silver production while maintaining high environmental standards. Our sustainability work, from wildlife protection and environmental monitoring to supporting local communities, is essential to producing the silver that the world needs to power our future. With unwavering commitment to excellence and guided by our values, we continue to create long-term value for all our stakeholders." HIGHLIGHTS OF 2024 SUSTAINABILITY REPORT Over $1 billion direct economic impact to local communities Over 40 thousand hours of safety & health training hours Women comprise 38% of our Board of Directors 38% reduction in Scope 1 & 2 GHG emissions from our 2019 baseline Hecla's subsidiary, Elsa Reclamation and Development Company Ltd. (ERDC), will conduct its largest Yukon reclamation project in 2025, restoring historically mined areas for community benefit. REPORTING FRAMEWORKS Hecla prepared the Sustainability Report with reference to the Global Reporting Initiative (GRI) Standards and benchmarked its performance against the Sustainability Accounting Standards Board (SASB) Metals and Mining standards and against relevant aspects of the Task Force on Climate-Related Financial Disclosures (TCFD). Hecla also reported against the Mining Association of Canada's Towards Sustainable Mining (TSM) framework for its Casa Berardi mine in Quebec, Canada. The full 2024 Sustainability Report, along with the ESG data tables and GRI, SASB, TCFD, and TSM content indices, can be accessed on Hecla's website here. ABOUT HECLA Founded in 1891, Hecla Mining Company (NYSE: HL) is the largest silver producer in the United States and Canada. In addition to operating mines in Alaska, Idaho, and Quebec, Canada, the Company is developing a mine in the Yukon, Canada, and owns a number of exploration and pre-development projects in world-class silver and gold mining districts throughout North America. View source version on Contacts For further information, please contact: Mike ParkinVice President – Strategy and Investor Relations Cheryl TurnerCommunications Coordinator Investor RelationsEmail: hmc-info@ Website: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
21-05-2025
- Business
- Business Wire
Hecla Releases 2024 Sustainability Report
COEUR D'ALENE, Idaho--(BUSINESS WIRE)--Hecla Mining Company (NYSE:HL) has released its 2024 Sustainability Report, highlighting the Company's environmental, social and governance (ESG) performance. "Throughout Hecla's storied history, we have distinguished ourselves not only as a preeminent silver producer but as a pioneer in sustainable mining practices," said Rob Krcmarov, President and CEO of Hecla Mining Company. "In 2024, we demonstrated that responsible mining goes hand-in-hand with financial and operational success, achieving our second-highest silver production while maintaining high environmental standards. Our sustainability work, from wildlife protection and environmental monitoring to supporting local communities, is essential to producing the silver that the world needs to power our future. With unwavering commitment to excellence and guided by our values, we continue to create long-term value for all our stakeholders." HIGHLIGHTS OF 2024 SUSTAINABILITY REPORT Over $1 billion direct economic impact to local communities Over 40 thousand hours of safety & health training hours Women comprise 38% of our Board of Directors 38% reduction in Scope 1 & 2 GHG emissions from our 2019 baseline Hecla's subsidiary, Elsa Reclamation and Development Company Ltd. (ERDC), will conduct its largest Yukon reclamation project in 2025, restoring historically mined areas for community benefit. REPORTING FRAMEWORKS Hecla prepared the Sustainability Report with reference to the Global Reporting Initiative (GRI) Standards and benchmarked its performance against the Sustainability Accounting Standards Board (SASB) Metals and Mining standards and against relevant aspects of the Task Force on Climate-Related Financial Disclosures (TCFD). Hecla also reported against the Mining Association of Canada's Towards Sustainable Mining (TSM) framework for its Casa Berardi mine in Quebec, Canada. The full 2024 Sustainability Report, along with the ESG data tables and GRI, SASB, TCFD, and TSM content indices, can be accessed on Hecla's website here. ABOUT HECLA Founded in 1891, Hecla Mining Company (NYSE: HL) is the largest silver producer in the United States and Canada. In addition to operating mines in Alaska, Idaho, and Quebec, Canada, the Company is developing a mine in the Yukon, Canada, and owns a number of exploration and pre-development projects in world-class silver and gold mining districts throughout North America.
The Market Online
05-05-2025
- Business
- The Market Online
Dolly Varden Silver quadruples portfolio in B.C.'s Golden Triangle
Dolly Varden Silver (TSXV:DV) signed a definitive agreement to acquire the Kinskuch property from Hecla Mining (NYSE:HL), quadrupling its presence in British Columbia's Golden Triangle Dolly Varden is a junior miner advancing its Kitsault Valley gold and silver project in British Columbia, which is estimated to contain over 32.9 million ounces of silver equivalent indicated and 11.4 million ounces inferred The Canadian silver stock has given back 5.73 per cent year-over-year but remains up by 217.54 per cent since 2020 Dolly Varden Silver (TSXV:DV) signed a definitive agreement to acquire the Kinskuch property from Hecla Mining (NYSE:HL), quadrupling its presence in British Columbia's Golden Triangle. The acquisition expands Dolly Varden's flagship Kitsault Valley project into numerous underexplored areas prospective for silver, gold and copper mineralization. These include: Claims to the southwest that trend to within 7 km of Goliath Resources' recent Surebet gold discovery. An area south of the Big Bulk project with the potential to host additional gold-copper porphyry systems on trend with the Kitsault molybdenum porphyry deposit being advanced by Newmoly. Consideration of $5 million will be paid through 1,351,963 DV shares, with Hecla retaining a 2 per cent net smelter return royalty, half of which Dolly Varden can buy back for $5 million at any time. According to Monday's news release, Hecla Mining currently owns about 13.3 per cent of Dolly Varden's outstanding common shares and will maintain a position on the junior miner's technical committee to help to unlock value from Kinskuch. Leadership insights 'Consolidating Dolly Varden's Kitsault Valley project with our major shareholder Hecla's large and underexplored claims covering prospective Hazelton Group rocks will allow for more efficient exploration and enable us to unlock value on our path to be a premier precious metals company,' Shawn Khunkhun, president and chief executive officer of Dolly Varden Silver, said in a statement. 'Additionally, we welcome Hecla's increased share ownership in our company.' 'We will be using our structural and lithological framework model developed at the Kitsault Valley trend that has led our team to significant discoveries, such as the Wolf vein, and applying it to exploration of the Illiance trend. Hecla was successful in identifying a subparallel trend of silver-rich mineralization, located to the east of our significant silver and gold deposits,' added Rob van Egmond, Dolly Varden's vice president of exploration. About Dolly Varden Silver Dolly Varden is a junior miner advancing its Kitsault Valley gold and silver project in British Columbia. The project, on trend with the high-grade Eskay Creek and Brucejack deposits, is estimated to contain over 32.9 million ounces of silver equivalent indicated and 11.4 million ounces inferred, representing over US$1.4 billion in the ground. The Canadian silver stock (TSXV:DV) opened with a again of 2.84 per cent trading at C$3.62. The stock has given back 5.73 per cent year-over-year but remains up by 217.54 per cent since 2020. Join the discussion: Find out what everybody's saying about this Canadian silver stock on the Dolly Varden Silver Corp. Bullboard and check out Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
Business Wire
22-04-2025
- Business
- Business Wire
Hecla's Libby Exploration Project Selected for FAST-41 Critical Minerals Dashboard by the Trump Administration
COEUR D'ALENE, Idaho--(BUSINESS WIRE)--Hecla Mining Company (NYSE:HL) is pleased to announce that its Libby Exploration Project in Montana was included in the Trump Administration's March 18, 2025, announcement of advancing critical mineral projects under Executive Order 14241, Immediate Measures to Increase American Mineral Production. As a result, the Project has been placed on the Federal Permitting Improvement Steering Council's FAST-41 permitting dashboard, which will ensure the environmental review and authorizations schedule for the project is publicly available and allows all stakeholders to benefit from increased transparency. 'We're pleased that the Libby Exploration Project has been recognized in the White House's critical minerals initiative and added to the FAST-41 dashboard. This priority status acknowledges the strategic importance of developing domestic silver and copper resources and should help streamline the remaining permitting process as we move toward a final Record of Decision. Hecla also extends its thanks to Montana's congressional delegation for their leadership in showing strong support for the Project and encouraging domestic mineral production and investment in Montana,' said Rob Krcmarov, President and CEO. 'Having a fully permitted project would add significant optionality to our portfolio, and this milestone positions us well for the future. While we continue to evaluate the project economics and address technical challenges, this designation enhances the project's long-term potential. As always, our capital allocation decisions will remain disciplined and focused on delivering shareholder value while we advance our understanding of this significant resource.' The Trump Administration's announcement may be found here: The Project link on the FAST-41 dashboard is here: Hecla's Libby Exploration Project is a large silver and copper deposit located 50 miles from the Company's Lucky Friday mine. A Plan of Operations is currently under an Environmental Assessment review by the U.S. Forest Service, and upon successful completion of that process, and if subsequent data collection and analysis activities suggest development of a mine is feasible, then a new Plan of Operations for the construction and development of a mine at the Libby Exploration site would be submitted for approval. ABOUT HECLA Founded in 1891, Hecla Mining Company (NYSE: HL) is the largest silver producer in the United States and Canada. In addition to operating mines in Alaska, Idaho, and Quebec, Canada, the Company is developing a mine in the Yukon, Canada, and owns a number of exploration and pre-development projects in world-class silver and gold mining districts throughout North America. Cautionary Statement Regarding Forward-Looking Statements. This news release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws, including Canadian securities laws. Words such as 'may', 'will', 'should', 'expects', 'intends', 'projects', 'believes', 'estimates', 'targets', 'anticipates' and similar expressions are used to identify these forward-looking statements. Such forward-looking statements include the possibility of submitting a new Plan of Operations for the Libby Exploration Project and subsequently constructing a mine. For a detailed discussion of risks and other factors impacting these forward-looking statements, see the Company's 2024 Form 10-K filed on February 13, 2025. The Company undertakes no obligation and has no intention of updating forward-looking statements other than as may be required by law.
