HL - Sector: Basic Materials---Industry: Gold & Silver

[setravis]

Equity Research on Silver Wheaton Corp. and Hecla Mining Co. - Silver Prices Shaken in November

Press Release Source: StockCall On Wednesday November 24, 2010, 8:23 am EST
JOHANNESBURG, SOUTH AFRICA--(Marketwire - 11/24/10) - www.stockcall.com/ offers investors comprehensive research on the silver industry and has completed analytical research on Silver Wheaton Corp. (NYSE:SLW - News) and Hecla Mining Co. (NYSE:HL - News). Register with us today at www.stockcall.com/ to have free access to these researches.

Sporadic November silver prices ended the metal's meteoric rise seen throughout much of 2010. A combination of global and domestic economic factors has led to the recent price inconsistencies. Register now at https://stockcall.com/development/stockcall/page.php?name=register.html to have free access to our reports on the silver industry.

www.stockcall.com/ is an online platform where investors doing their due-diligence on the silver industry can have easy and free access to our analyst research and opinions on Silver Wheaton Corp. and Hecla Mining Co.; investors and shareholders of these companies can simply register for a complimentary membership at https://stockcall.com/development/stockcall/page.php?name=register.html

A weakened U.S. dollar was partially responsible for silver's price rise earlier this year. The recent strengthening of the dollar has now adversely affected silver prices. The economic crisis in Europe, led by concern over the recent bailout of Irish banks, has weakened currencies in the region and in turn, led to the improvement of the U.S. dollar. Visit www.stockcall.com/ to see how companies in this industry have grown over the past years and how they are expected to perform in the future.

Concerns regarding China raising interest rates have also hurt silver prices recently. If China does raise interest rates as they are expected to, demand for silver could decline, as it would be more financially viable to hold onto the commodity instead of investing further into it. Currently, silver futures for December are down 5.3 percent.

Overall, it's been a strong year for silver and the recent price setbacks caused by the U.S. dollar, the European economy and Chinese interest rates may only be temporary and not reflective of a long-term decline.

Despite silver price concerns revenues are still strong for players in the silver industry such as Silver Wheaton Corp. and Hecla Mining Co. Silver Wheaton reported record earnings with net income doubling to $69.2 million. Silver Wheaton Corp. research report is accessible for free by registering today at www.stockcall.com/SLW241110.pdf.

Conversely, Hecla saw adjusted net income of $29.6 million with sales for the quarter growing to $115.8 million. Hecla Mining Co. research report is available for free by signing up now at www.stockcall.com/HL241110.pdf.

About StockCall.com

StockCall.com is a financial website where investors can have easy, precise and comprehensive research and opinions on stocks making the headlines.

Contact:
Contact Person:William T. [email protected]

[setravis]

Top Strategist: Silver Surging To At Least $50
Should you buy silver on the pullback? According to strategist John Stephenson there's no time like the present.

He thinks silver is on the brink of a surge. In fact, he's calling for silver to hit new record highs - - $50 / ounce. The Fast Money traders were so intrigued by this very bold call they wanted to hear more.

In a live interview Stephenson, the author of "The Little Book Of Commodity Investing" tells the desk that his $50 prediction may be conservative. That's right, conservative.

"If you look at the ratio of silver to gold during the 1970's (which is the last time it hit an all time) it was 16-1." Now that ratio is even greater. "It's currently at 50-1. That would imply silver should be at $88," he says.


***********************************************
John Stephenson's Ways To Play Silver
Silver Futures [SIC1  29.31    -0.057  (-0.19%)   ]
iShares Silver Trust  [SLV  28.61    0.04  (+0.14%)   ]
Pan American Silver [PAAS  40.04    0.4475  (+1.13%)   ]
Hecla Mining [HL  10.77    0.03  (+0.28%)   ]
Silver Wheaton [SLW  36.74    0.31  (+0.85%)   ]

***********************************************


If you're concerned about demand for silver falling off, Stephenson says don't be. He thinks money continues to rotate into silver (and all precious metals for that matter) due to growing "concerns with the level of debt that the government is racking up in the US." In other words Stephenson expects the so-called race to debase will generate investor interest in metals for some time to come.

How should you trade?

Of all the names listed above, Stephenson tells the desk he likes Silver Wheaton best "because it's not really a miner it's a royalty company. And its going to double production over the next two years."

[hectorgr]

Suggest adding to the watch list GMO and SVM.  HL's history shows its often failing
production forecasts or accounting surprises, that jeopardizes LT investment (daytrading
or short lapse trading is another story - made good profits scalping it particulalrly buying/selling as per the Bollinger Bands. Anyway attached look the graph comparing  performances of some stocks related to precious metals and dont disregard PAL but beware abt its volatility. do your own dd and GLTA in 2011.

[setravis]

Hecla Announces Increased Silver Reserves & Resources an...  by Business Wire  Feb 24 2011 8:58PM


COEUR D'ALENE, Idaho, Feb 24, 2011 (BUSINESS WIRE) -- Hecla Mining Company ("Hecla")(HL) today reported silver reserves and resources as at December 31, 2010 of 142 million ounces and 248 million ounces respectively, the highest in the company's history. Hecla is also pleased to provide an exploration update on its four large silver districts.

Highlights

Silver reserves increased slightly to 142 million ounces Silver resources increased by 17% to 248 million ounces Greens Creek's 200 South continued to define high-grade resources contributing 85% of the 24 million ounces of new silver resources Drilling at the Lucky Friday continued to define strong veining to the east and at depth resulting in an addition of over 17 million ounces of silver resources and conversion of an additional 4 million ounces of silver reserves at the mine A new resource was defined at the Noonday project in the Silver Valley Discovered multiple zones of gold/silver-bearing veins and breccias with ore grades at the intersection of the Amethyst and Equity veins at the San Juan Silver JV in Colorado In Mexico, new intersections of precious-metal veining on the Andrea vein that are in close proximity to previous mining and potentially represent a new ore shoot at the San Sebastian property.

"We exceeded our goal of replacing ounces mined in 2010 and defining additional reserves and resources," said Phillips S. Baker, Jr., Hecla's President and Chief Executive Officer. "We have also made tremendous progress in our exploration efforts at our four properties. We have extended the mine life at Lucky Friday, added a significant number of resources from the 200 South and East zones at Greens Creek, added a new resource at the Noonday project in the Silver Valley and defined new mineralization at both the San Juan and San Sebastian properties. As a result of last year's drilling success, we are planning a third more exploration funds in 2011."

Reserves & Resources

Hecla continued to have success with drilling at its operations by replacing 2010 production and adding to reserves with substantial gains in resources. Total silver reserve and resource ounces for Hecla increased to 142.1 million ounces and 248.3 million ounces, respectively, as shown in Table A at the end of the release. Both are the largest in Hecla's history.

This increase in reserve tons and silver ounces in 2010 is due primarily to drilling to the east on the 30 vein at the Lucky Friday resulting in the conversion of resources. Lucky Friday replaced production and added 252,000 tons containing 3.8 million ounces of silver to reserves. Reserves at the Lucky Friday mine are the highest in its 69-year history. Greens Creek slightly reduced the reserves due to mining at the North West West ("NWW"), West Ore, and South West ("SW") zones; however, drilling and re-modeling during the same period added reserves to the 5250 North, 200 South, and East Ore. Greens Creek mined 800,000 tons producing 9.8 million ounces of silver in 2010 and added 728,800 tons containing 8.6 million ounces of silver to reserves. The increased silver reserves at Lucky Friday more than offset the slight decrease in silver reserves at Greens Creek.

Drilling successes in 2010 added a significant amount of new resources. Total resources at December 31, 2010 are 248.3 million ounces of silver, 450,000 ounces of gold, 1.2 million tons of lead and 831,000 tons of zinc. This is the largest resource in the history of the company and is the fifth consecutive year resources have increased. The most significant addition to resources was at Greens Creek, where total silver resources increased by 2 million tons containing 24 million ounces with significant gains in the 200 South and East zones. The Lucky Friday added silver resources of 4 million tons containing 17 million ounces and the Noonday project in the Silver Valley added a new resource of 517,900 tons containing 1 million ounces of silver and 51,000 tons of zinc and 18,600 tons lead.

The ore reserves and resources provided in Table A are based on $16.00 per ounce of silver, $950 per ounce of gold, and $0.80 per pound of lead and zinc.

2010 EXPLORATION UPDATE

Exploration expenditures were $20 million in 2010 with $6 million for Greens Creek, $5 million for San Juan Silver Joint Venture ("JV"), $5 million for Lucky Friday/Silver Valley, and $3 million for San Sebastian.

Greens Creek

At the Greens Creek mine in Alaska, underground drilling continues to define high-grade reserves and resources with good widths in the NWW zone along two newly-defined limbs below the current workings and along strike for at least 500 feet. Drilling in the 200 South zone has defined two separate mineralized zones that are typically barite-rich and contain higher values of precious metals relative to other zones in the mine. Recent significant assays from the NWW and 200 South zones are shown in Table B at the end of the release.

Surface and underground drilling continues to define the North East ("NE") contact which represents a continuation of the Greens Creek mine contact. The contact has been folded underneath the existing mine workings; it extends near surface at Cub Creek less than a mile northeast of the mine infrastructure, and dips below and is sub--parallel to the mine infrastructure. Recent wide-spaced drilling has defined discontinuous mineralized intervals along the contact which has a folded strike length of over 5,000 feet and down dip extension of 3,000 feet. The NE contact's dimensions compares to the current Greens Creek deposit.

Exploration expenditures at Greens Creek in 2011 should exceed $8 million. Two drills are expected to work underground all year and the surface exploration program has three drills and a number of surface mapping and sampling crews in the spring and summer.

The underground exploration program is designed to continue to explore extensions to the 200 South, 5250, NWW, and Gallagher zones. Exploration along the NE contact will use underground and surface drills.

Lucky Friday -- Silver Valley

Exploration at the Lucky Friday mine in Idaho primarily drilled three areas outside the 2009 resource boundary: testing for extension up to 400 feet to the east at various levels; at depth to the 8100 level; and from the 4050 level. To the east, the 30 vein narrows but maintains high-grade silver and base metal values. However, this same drilling has also defined good grade from 6,500 feet down to approximately 7,800 feet over mining widths in the 50, 70, 90, 110, and 120 veins. Drilling of the 30 vein below the 2009 resource boundary to 8100 level continues to intersect wide, high-grade veins in combination with good intersections of the 50, 70 and 90 veins. Drilling in the upper levels of the mine on the 4050 level intersected significant intercepts of the 5, 50, 90, and 100 veins and require follow-up drilling. Selected drilling intersections from the 4th Quarter are shown in Table C at the end of the release.

In 2010, Hecla's drilling of the Noonday veins, located two miles northwest of Lucky Friday and near the past-producing Star mine, has defined a new resource. The Noonday project is targeting the continuation of mineralization on the Noonday North Split and Noonday veins, above stopes that were last mined in the late 1980's. Drilling has intersected two veins with high-grade intersections of zinc, silver and lead that are open along strike. Eight of the ten drill holes intersected multiple veins of high-grade zinc, lead, and silver mineralization with the best intercepts shown in Table C at the end of the release.

The 2010 surface drilling was successful in defining a 5,000-foot structural zone, potentially corresponding to the You Like/30 vein trend between the Star Mine and the Lucky Friday Expansion Area. Alteration and vein mineralization is better developed near the western end where there is transition into more favorable host rocks. The wide-spaced drilling on this trend has confirmed the presence of a significant mineralized structure with localized high-grade intervals. Selected intersections along this trend are shown in Table C.

The exploration budget for Lucky Friday/Silver Valley in 2011 is approximately $5 million and includes efforts to expand resources from the 4050 level and initial deeper drilling to the west past the Silver Fault; expanding the Noonday resources along strike; evaluating a number of other vein structures near the past-producing Star Mine; and drilling the Butte/Coeur d'Alene target to the east of the Lucky Friday.

San Juan Silver JV

The San Juan Silver JV (Hecla has a 70% interest), with partners Emerald Mining and Leasing, LLC and Golden 8 Mining LLC, located in Creede, Colorado received approval of its Environmental Assessment and 5-Year Plan of Operation in mid-2010, enabling expansion of exploration on three vein systems: Bulldog, Amethyst and Equity. Drilling continued to successfully define mineralization along the Bulldog and Amethyst trends. Further to the north, drilling uncovered multiple zones of gold/silver-bearing veins and breccias where the Amethyst and Equity vein structures intersect. Drilling identified a 300-foot wide zone of intense hydrothermal alteration containing veins and breccias that have significant precious and base metal-bearing intervals along the north-trending Amethyst vein where it intersects the east-west trending Equity structure.

The Amethyst drilling targeted the structure 2,500 feet north of the historic underground workings and encountered both west and east vein strands. The West Strand of the Amethyst is the best developed and contains up to 0.2 ounces per ton gold, 3.8 ounces per ton silver and 4.3% lead over 9.5 feet. The most significant high-grade intercepts occur at the intersection of the Amethyst and Equity trends and are tabulated with the Bulldog vein in Table D at the end of the release.

The 2011 exploration budget for the San Juan Silver JV is approximately $5 million and includes drilling of at least three structures, with particular emphasis on the newly-defined mineralization at the intersection of the Amethyst and Equity.

San Sebastian, Mexico

The Pedernalillo area in the southwest portion of the San Sebastian property is host to the past-producing Don Sergio and Andrea veins in addition to the nearby, newly discovered gold and silver-bearing Pedernalillo vein. This vein may be an offset portion of the Andrea vein. More significant, recent drilling of the Andrea vein includes a potential ore shoot parallel to the Don Sergio vein which was mined by Hecla in 2003 and 2004. Initial 3-D and economic modeling indicate that remnant Don Sergio mineralization and newly-intersected Andrea veins, along with the newly-discovered Pedernalillo veins, represent a new target due to their close proximity. Selected drill intersections of the Andrea vein are shown in Table E. Hecla has designated a budget of $3 million for the 2011 exploration program with drilling in the Andrea-Pedernalillo and Cerro Santiago areas.

2011 GUIDANCE

Hecla's exploration strategy in 2011 is largely focused on drill-testing targets on its district-sized land positions surrounding existing operations or re-emerging historic mining districts. With up to 12 drills operating and 250 thousand feet of underground and surface drilling, we are continuing systematic exploration. As evidence of such, we're increasing our exploration budget to approximately $27 million in 2011, including exploration at our Lucky Friday and Greens Creek operations.

ABOUT HECLA

Established in 1891, Hecla Mining Company is the largest and lowest cash cost silver producer in the U.S. The company has two operating mines and exploration properties in four world-class silver mining districts in the U.S. and Mexico.

Cautionary Statements

Statements made which are not historical facts, such as anticipated payments, litigation outcome, production, sales of assets, exploration results and plans, costs, and prices or sales performance are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to, metals price volatility, volatility of metals production and costs, environmental and litigation risks, operating risks, project development risks, political risks, labor issues, ability to raise financing and exploration risks and results. Refer to the company's Form 10-K and 10-Q reports 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.

Cautionary Statements to Investors on Reserves and Resources

The United States Securities and Exchange Commission permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this release, such as "resource," "other resources," and "mineralized materials" that the SEC guidelines strictly prohibit us from including in our filings with the SEC. U.S. investors are urged to consider closely the disclosure in our Form 10-K and Form 10Q. You can review and obtain copies of these filings from the SEC's website at www.sec.gov .

SOURCE: Hecla Mining Company


Hecla Mining Company
Vice President -- Investor Relations
Melanie Hennessey, 604-694-7729
Direct Main: 800-HECLA91 (800-432-5291)
Email: [email protected]
Website:
                              www.hecla-mining.com
                           

[setravis]

HL Hecla Reports 2010 Record Operating Cash Flow of $198 Millio...  by Business Wire  Feb 24 2011 11:22PM

COEUR D'ALENE, Idaho, Feb 24, 2011 (BUSINESS WIRE) -- Hecla Mining Company ("Hecla") (HL) today announced record operating cash flow of $197.8 million, net income applicable to common shareholders of $35.4 million, or $0.14 per basic share, and adjusted net income applicable to common shareholders of $82.6 million(1) or $0.33 per basic share for the year. Full year silver production was 10.6 million ounces at a total cash cost of negative $1.46 per ounce, net of by-products.(2)

FULL YEAR 2010 HIGHLIGHTS - RECORD FINANCIAL RESULTS

Highest annual revenue and operating cash flow in Hecla's 120-year history Revenue of $418.8 million, a $106.3 million increase over 2009 Net income applicable to common shareholders of $35.4 million, or $0.14 per basic share Adjusted net income applicable to common shareholders of $82.6 million, or $0.33 per basic share Operating cash flow of $197.8 million, a 66% increase over 2009 Silver production of 10.6 million ounces at a total cash cost of negative $1.46 per ounce, net of by-products Silver reserves and resources increased to 142 million ounces and 248 million ounces, respectively Significant advancement with the Lucky Friday #4 Shaft Project Cash and cash equivalents of $283.6 million at December 31, 2010 and no debt

FOURTH QUARTER 2010 HIGHLIGHTS

Revenue of $134.5 million, a $46.4 million increase over the same period in 2009 Net loss applicable to common shareholders of $13.1 million, or $0.05 per basic share, after giving effect to certain significant items: $193.2 million accrual on the Coeur d'Alene Basin litigation $133.6 million in tax benefit Adjusted net income applicable to common shareholders of $30.6 million, or $0.12 per basic share Operating cash flow of $85.8 million, a 34% increase over the same period in 2009 Silver production of 2.7 million ounces at a total cash cost of negative $0.14 per ounce, net of by-products

"The fourth quarter and year-end results were record setting in a number of areas, reflecting increased throughput and low costs at our Greens Creek and Lucky Friday operations, and strong metals prices," said Hecla's President and Chief Executive Officer, Phillips S. Baker, Jr. "After considering all investing and financing activities, we generated $178.9 million in net cash flow last year. Our strong balance sheet and growing cash flow should be sufficient to meet our financial obligations of a potential Basin litigation settlement, as well as continuing to fund capital projects to expand our operations and explore our large land packages in the U.S. and Mexico."

(1) The adjusted income applicable to common shareholders represents a non-U.S. Generally Accepted Accounting Principles (GAAP) measurement. A reconciliation of net income applicable to common shareholders (GAAP) to adjusted income can be found at the end of the release.)

(2) Total cash cost per ounce of silver represents a non-U.S. Generally Accepted Accounting Principles (GAAP) measurement. A reconciliation of total cash cost to cost of sales and other direct production costs and depreciation, depletion and amortization (GAAP) can be found at the end of the release.)

FINANCIAL OVERVIEW

Hecla reported 2010 and fourth quarter record revenues and cash flow from operating activities, surpassing the previous 120-year record set in 2009, as a result of increased tonnage at Lucky Friday and Greens Creek, and higher metals prices. Net income applicable to common shareholders for the full year and net loss applicable to common shareholders for the fourth quarter were impacted by the following three items:

An accrual of $193.2 million in the fourth quarter 2010 due to an increase in Hecla Limited's estimated liability for environmental obligations in Idaho's Coeur d'Alene Basin caused by historic mining activity. The increased accrual is based on a potential settlement that includes all Basin claims in the litigation. Hecla Limited's accrual now stands at $262 million (see Coeur d'Alene Basin Litigation below). A change in net income tax benefits, as a result of higher metals prices, increased profitability, and the recognition of the tax effect of the environmental liability accrual described above. A $20.8 million loss, primarily non-cash in 2010 related to long-term base metal hedging, which includes a loss of $9.6 million in the fourth quarter 2010 due to rising base-metals prices, and mark-to-market changes in the value of base metal derivative contracts. A summary of the quantities of base metals committed at December 31, 2010 is included at the end of this release.

Hecla's cash position at December 31, 2010 was $284 million, compared to $105 million of cash on hand at December 31, 2009.

Capital expenditures at our operations totaled $72.7 million for the full year 2010 and $23.2 million for the fourth quarter. Full year expenditures incurred at Lucky Friday were $54.4 million, which included $15.8 million in the fourth quarter. The majority of the expenditures at Lucky Friday were on the #4 Shaft Project. Full year expenditures incurred at Greens Creek were $18.3 million, which included $7.4 million for the fourth quarter.

Exploration expenditures for the fourth quarter and full year 2010 were $5.4 million and $21.6 million, respectively. As detailed in the exploration news release issued on February 24th, 2011, Hecla achieved the highest level of silver reserves and resources in its history with 142 million ounces and 248 million ounces, respectively. Updated reserves and resources at December 31, 2010 also include gold reserves and resources of 757,000 ounces and 450,700 ounces, respectively; lead reserves and resources of 556,200 tons and 1.2 million tons, respectively; and zinc reserves and resources of 859,000 tons and 831,900 tons, respectively.

Coeur d'Alene Basin Litigation

The negotiators representing Hecla, the United States, the Coeur d'Alene Indian Tribe, and the State of Idaho with respect to the Coeur d'Alene Basin environmental litigation and related claims have reached an understanding on proposed financial terms to be incorporated into a comprehensive settlement that would contain additional terms yet to be negotiated.

"Determining the financial terms of any settlement of this longstanding litigation is an important step forward in finally resolving this dispute," said Mr. Baker. "While the cost is significant, we believe the terms are consistent with both our current plans and adding opportunities that will allow Hecla to grow further. We hope a final settlement can be achieved by the end of the second quarter."

On February 18, 2011, the Idaho Federal District Court issued an Order giving the parties to the litigation until April 15, 2011 to inform the Court of the status of settlement negotiations. During this time period, the negotiators will work towards finalizing and agreeing to the settlement terms, followed by a recommendation for approval to their respective parties. If the parties are able to complete terms of settlement, it is expected that a Consent Decree would be lodged, followed by a public comment period of 30 days and a period for responses to those public comments. The Consent Decree would also require approval by the Idaho Federal District Court. If the Consent Decree is entered, Hecla would make the following payments:

$102 million of cash and $55.5 million of cash or stock 30 days after entry of the Consent Decree $25 million of cash 30 days after the first anniversary of entry of the Consent Decree $15 million of cash 30 days after the second anniversary of entry of the Consent Decree $65.9 million by August 2014, as quarterly payments of the proceeds from the exercise of any outstanding Series 1 and Series 3 warrants (which have an exercise price of between $2.45 and $2.50 per share) during the quarter, with the balance of the $65.9 million due in August 2014 (regardless of the amount of warrants that have been exercised)

While the negotiators have reached an understanding on proposed financial terms, no party has agreed to any of these terms as final, nor has any party represented that any of these terms are final or agreed to. There can be no assurance that a final settlement will be reached.

Metals Prices

Realized metals prices increased significantly in 2010 compared to 2009. In the fourth quarter and full year, realized metals prices exceeded market prices primarily because of provisional price gains of $9.6 million in the fourth quarter and $16.6 million for the year due largely to increased precious metals prices in the time period between the shipment of concentrate and final settlement.

OPERATIONS OVERVIEW

In spite of higher mine and mill throughput at both Greens Creek and Lucky Friday, silver production decreased slightly in 2010 due to lower silver ore grades at both operations, which was anticipated. However, production of lead and zinc, which are important by-products, increased to record levels in 2010 due to higher grades and ore volumes. Fourth quarter silver production was higher compared to a year ago mainly due to higher milled tonnage.

The key drivers for the reduction in total cash cost per ounce of silver year-over-year are higher metals prices and increased production of gold, lead and zinc. The increase in the fourth quarter total cash cost per ounce of silver, in comparison to the same period in 2009, is due to lower zinc and lead grades resulting in lower by-product credits.

Greens Creek

Full year silver production at Greens Creek was 7.2 million ounces, which included 1.9 million ounces in the fourth quarter, in comparison to 7.5 million ounces and 1.5 million ounces, respectively, in the same periods in 2009. The decrease in silver production year-over-year is due to lower silver ore grade. The lower silver grade, along with the higher zinc and lead ore grades, were expected and are due to differences in the sequencing of production according to the mine plan. The increase in silver production in the fourth quarter over the same period in 2009 is attributable to higher silver, gold, lead and zinc grades and recoveries, and increased mill throughput. The Company is working to optimize mill capacity at Greens Creek and has successfully increased throughput by approximately 10% since 2008 to 2200 tons per day, and will work towards increasing throughput to 2250 tons per day in 2011.

Total cash cost at Greens Creek for the full year was negative $3.90 per ounce, net of by-products and was negative $1.93 per ounce for the fourth quarter, net of by-product credits, compared to $0.35 and negative $4.85 per ounce, respectively, for the same periods in 2009. The increase in total cash cost in the fourth quarter over the same period in 2009 is due in part to lower by-product credits. The total decrease in cash cost per ounce of silver produced year-over-year was primarily due to increased by-product production credits, partially offset by higher treatment and freight costs, production costs, and production taxes. The higher treatment and freight costs in 2010 are due to increased price participation charges by smelters.

Lucky Friday

Full year silver production at Lucky Friday was 3.4 million ounces and 819,317 ounces in the fourth quarter, compared to 3.5 million ounces and 865,595 ounces, in the respective periods in 2009. The overall decrease in production year-over-year and quarter-over-quarter is primarily due to lower silver ore grade, which was expected. The operation achieved record lead and zinc production in 2010 with 21,619 tons and 9,286 tons, respectively, which included 5,356 tons and 2,214 tons, respectively, in the fourth quarter.

Total cash cost at Lucky Friday for the full year was $3.76 per ounce, net of by-product credits and $4.06 per ounce in the fourth quarter, net of by-product credits, in comparison to $5.21 and $3.10 per ounce, respectively, for the same periods in 2009. The decrease in total cash cost per ounce year-over-year is due to higher by-product credits resulting from higher lead and zinc prices, partially offset by higher employee profit sharing, production costs, expensed site infrastructure, and treatment and freight costs. The increase in total cash cost per ounce over the fourth quarter in 2009 is attributable to lower silver grades.

Michael Dexter, until recently the Lucky Friday General Manager, retired after 25 years with Hecla. "We are grateful for Mike's valuable contribution and leadership over more than two decades," said Mr. Baker. "Not only has Lucky Friday been operating for 69 years, but with the current proposed development of the #4 Shaft, the mine is expected to produce beyond 2030. This would not have been possible without the hard work and dedication of Mike and his team. We wish him all the best in his retirement and look forward to working with him as our community relations representative in the Silver Valley. We would also like to congratulate John Jordan, who will be taking the helm as General Manager, and guiding Lucky Friday to continued success. John was previously the Mine Superintendent at Lucky Friday and has 30 years experience in the mining industry."

#4 Shaft Project

The #4 Shaft Project at Lucky Friday is progressing well and Hecla believes that the project could increase Lucky Friday's annual silver production by approximately 60% from current levels and extend the mine life beyond 2030. Total estimated capital expenditures are expected to be approximately $200 million, for an internal shaft descending from the 4900 level to the 8800 level, with expected completion in 2014. As of December 31, 2010, approximately $50 million in total capital expenditures has been spent since inception of the proposed project, which includes $37.7 million spent in 2010. Capital expenditures for the #4 Shaft Project in 2011 are expected to be approximately $45 million. Final approval of the total project by Hecla's board of directors could come as early as mid-2011.

In the fourth quarter, basic engineering work for a centralized refrigeration system was completed. The scope of work for the project was revised to include additional shaft depth from the 7800 level to the 8800 level. As of December 31, 2010, off-shaft development and shaft development have advanced a total of 5,359 feet and 78 feet, respectively. Construction of the hoist is proceeding with all major mechanical components installed and operational.

2011 GUIDANCE

Hecla expects silver production in 2011 to range between 9 and 10 million ounces. Silver production is expected to be slightly lower in 2011 compared to 2010, due to lower silver grades, along with higher zinc and lead ore grades, which are all linked to mine sequencing at Greens Creek and Lucky Friday. Silver production is expected to increase in 2012 as grades increase at both properties. Total cash cost is forecast to be approximately zero dollars per ounce of silver produced, net of by-product credits, at current metals prices ($1,350 per ounce of gold, and $1.05 per pound of lead and zinc).

Capital expenditures in 2011 are expected to be approximately $100 million. Hecla expects to spend approximately $27 million in exploration in 2011.

Mr. Baker said, "One of our key areas of focus in 2011 will be to work towards enhancing our production pipeline through our aggressive exploration program in the four districts we dominate, and to bring new assets into the company via mergers and acquisitions. In addition to the development of the #4 Shaft Project at our Lucky Friday operation, which is expected to provide production growth beyond 2015, we are working towards increasing near-term and future production."

DIVIDEND ON SERIES B PREFERRED STOCK

Hecla's board of directors has elected to declare the regular quarterly dividend of $0.875 per share on the outstanding Series B Cumulative Convertible Preferred Stock, on a total of 157,816 shares outstanding. This represents a total amount to be paid of approximately $138,000. The cash dividend is payable April 1, 2011, to shareholders of record on March 15, 2011.

CONFERENCE CALL AND WEBCAST

A conference call and webcast will be held Friday, February 25, at 10 a.m. Eastern Time to discuss these results. You may join the conference call by dialing toll-free 1-800-299-8538 or 1-617-786-2902 internationally. The participant passcode is HECLA.

Hecla's live and archived webcast can be accessed at www.hecla-mining.com under Investor Relations or via Thomson StreetEvents Network. Individual investors can listen to the call at www.earnings.com , Thomson's individual investor portal, powered by StreetEvents. Institutional investors can access the call via Thomson Street Events ( www.streetevents.com ), a password-protected event management site.

ABOUT HECLA

Established in 1891, Hecla Mining Company is the largest and lowest cash cost silver producer in the U.S. The company has two operating mines and exploration properties in four world-class silver mining districts in the U.S. and Mexico.

Cautionary Statements

Statements made which are not historical facts, such as anticipated payments, litigation outcome, production, sales of assets, exploration results and plans, costs, and prices or sales performance are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to, metals price volatility, volatility of metals production and costs, environmental and litigation risks, operating risks, project development risks, political risks, labor issues, ability to raise financing and exploration risks and results. Refer to the company's Form 10-K and 10-Q reports 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.

Cautionary Statements to Investors on Reserves and Resources

The United States Securities and Exchange Commission permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this release, such as "resource," "other resources," and "mineralized materials" that the SEC guidelines strictly prohibit us from including in our filings with the SEC. U.S. investors are urged to consider closely the disclosure in our Form 10-K and Form 10Q. You can review and obtain copies of these filings from the SEC's website at www.sec.gov .

SOURCE: Hecla Mining Company


Hecla Mining Company
Melanie Hennessey, 604-694-7729
Direct Main: 800-HECLA91 (800-432-5291)
Vice President -- Investor Relations
[email protected]

                              www.hecla-mining.com

[setravis]

Capitalizing on the Rise in Silver Prices...
Hecla Mining, Above the 50-day. Rising out of oversold.

Day's Range: 10.17 - 10.82
52wk Range: 4.52 - 11.56
Volume: 12,276,170
Avg Vol (3m): 12,950,000
Market Cap: 2.77B
P/E (ttm): 37.21
EPS (ttm): 0.29
Div & Yield: N/A (N/A)

Technicals
Percentage Gainer

Last Price Quote is:
6.30%above 13-day EMA
10.86%above 50-day EMA
RS Rating: 77 

[setravis]

Canadian Miners Shine On Takeover Chatter, Earnings News

After taking a breather on Thursday, gold and silver miners are charging higher again today with the Canadian Mining Stocks Index jumping 2.2%, driven higher by some speculative takeover chatter and some impressive profit results from one of the Index's biggest members.

On the mergers and acquisitions front, First Majestic Silver (NYSE: AG) CEO Keith Neumeyer just can't figure out why a larger mining company hasn't acquired his firm yet. "I can't believe it hasn't happened yet," Neumyer said in an interview with Reuters. At a time when silver prices are surging, First Majestic, with a market cap of $1.5 billion, said it is looking to double its silver production to 16 million ounces over the next three years.

Companies such as Hecla Mining (NYSE: HL) and Pan American Silver (NASDAQ: PAAS) recently announced lower silver production forecasts, Reuters reported. First Majestic, which operates exclusively in Mexico, only mines silver and Neumeyer said he sees the price of the white metal going to $100.

Shares of larger rival Silver Wheaton (NYSE: SLW) are up 2% today after the company said it earned 35 cents a share in the fourth quarter, topping the Wall Street estimate of 30 cents. Silver Wheaton also gave investors reason to cheer by announcing it would begin paying a quarterly dividend of three cents a share. The dividend is payable on March 31 to shareholders of record on March 21.

Barrick Gold (NYSE: ABX), the largest Index component by market value, is up 1% while New Gold (AMEX: NGD) is up 6% after the company said its fourth-quarter gold production jumped 11%.
-----------------------------------------------------------------------------------------------------
MACD rolling over...HL not performing like other miners.
Maybe later...

Day's Range: 10.01 - 10.30
52wk Range: 4.52 - 11.56
Volume: 10,988,427
Avg Vol (3m): 13,100,100
Market Cap: 2.82B
P/E (ttm): 77.85
EPS (ttm): 0.13
Div & Yield: N/A (N/A)

Technicals
Close Below the 13-day EMA

Last Price Quote is:
-0.26%below 13-day EMA
3.32%above 50-day EMA
RS Rating: 63 

[setravis]

Hecla Mining Co. Earnings Cheat Sheet: Revenue Grows By Double-Digits For Fifth Straight Quarter

On Tuesday August 9, 2011, 10:26 am EDT

Hecla Mining Co. reported higher profit for the second quarter as revenue showed growth. Hecla Mining Company is engaged in the discovery, acquisition, development, production and marketing of silver , gold , lead and zinc.

For more analysis on our support levels and ranges for gold and silver,  consider a free 14-day trial to our acclaimed Gold & Silver Investment Newsletter.


Hecla Mining Earnings Cheat Sheet for the Second Quarter

Results: Net income for Hecla Mining Co. rose to $33.3 million (11 cents per share) vs. $17.1 million (5 cents per share) in the same quarter a year earlier. This marks a rise of 95% from the year earlier quarter.

Revenue: Rose 33% to $117.9 million from the year earlier quarter.

Actual vs. Wall St. Expectations: HL fell short of the mean analyst estimate of 15 cents per share. It fell short of the average revenue estimate of $121.1 million.

Quoting Management: "Hecla had solid operational and financial results year-to-date generating significant cash flow from Greens Creek and Lucky Friday to fund our capital projects and meet our environmental settlement obligations," said Hecla's President and Chief Executive Officer, Phillips S. Baker, Jr. "The #4 Shaft Project combined with the new pre-development initiatives at our four properties are expected to increase production by approximately 50-60% over the next five years."

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 39.4%, with the biggest boost coming in the first quarter when revenue rose 70.7% from the year earlier quarter.

The company fell short of estimates last quarter after beating the mark the quarter before with net income of 15 cents versus a mean estimate of net income of 12 cents per share.

Competitors to Watch: Coeur d'Alene Mines Corp. , Pan American Silver Corp. , Silver Wheaton Corp. , Mines Management, Inc. , Metalline Mining Company , Great Panther Silver Ltd. , Alexco Resource Corp. , Silvercorp Metals Inc. , Mag Silver Corp , and First Majestic Silver Corp. .

[setravis]

Hecla Mining Co Earnings Conference Call (Q2 2011)
Scheduled to start Tue, Aug 9, 2011, 1:00 pm Eastern

http://biz.yahoo.com/cc/9/124899.html


Hecla Mining Company ("Hecla")(HL, Trade ) announced today that its Board of Directors has approved the completion of the #4 Shaft Project at the Lucky Friday mine. Hecla is also pleased to report progress on its Star (Silver Valley -- Idaho), Equity/Bulldog (San Juan Silver JV -- Colorado) and Hugh Zone (San Sebastian -- Mexico) pre-development projects and exploration efforts.

HIGHLIGHTS

-- The Lucky Friday #4 Shaft Project received final Board of Directors' approval

-- Exploratory drilling at Lucky Friday identified high-grade mineralization in the Silver Fault and intense alteration to the west

-- Rehabilitation of the Star drift has been initiated and work is in progress to re-establish power and ventilation

-- Equity mine portal and ventilation adit successfully re-opened and preparations are under way for underground drilling

-- Underground drilling at Greens Creek continues to refine and extend mineralization at the south perimeter of the Gallagher zone

-- A scoping study has been initiated to re-evaluate the Hugh Zone and integrate this with a study on the nearby Andrea Vein

"Hecla is now positioned to significantly grow production over the next five years," said Hecla's President and Chief Executive Officer, Phillips S. Baker, Jr. "With approval of the #4 Shaft Project, developments at the Greens Creek mine and the scoping studies in the Silver Valley, San Juan Silver, and San Sebastian properties, we have a goal of 15 million ounces of annual silver production by 2016. We believe our strong financial position combined with cash flow generation from Greens Creek and Lucky Friday would be sufficient to cover our settlement obligations, sustaining and capital expenditures, pre-development projects, and exploration programs."

The production growth initiatives include three categories: construction, scoping studies, and exploration. Construction for production growth is primarily the #4 Shaft Project at the Lucky Friday. Scoping studies are under way for the Star, Bulldog and Hugh Zone to potentially re-open those mines, for the Lucky Friday optimization, and for Greens Creek's East Ore Zone.

Exploration expenditures during the second quarter were slightly lower than expected at $5.8 million due to heavy snowfall and cool spring temperatures which delayed the start of the drilling programs. During the quarter a number of drill programs occurred in Mexico, the Silver Valley, Greens Creek, Lucky Friday and the San Juan Silver JV. The majority of the exploration expenditures during the second quarter included Greens Creek with $1.94 million, San Juan Silver JV with $1.36 million, San Sebastian in Mexico with $1.23 million, and Lucky Friday/Silver Valley with $0.82 million. The exploration budget for 2011 was increased from $27 million to $32 million due to the establishment of pre-development initiatives and the expansion of exploration programs, primarily in Mexico. In addition, capital expenditures for 2011 have increased from $100 million to $115 million primarily from the acceleration of projects at Greens Creek.

LUCKY FRIDAY & SILVER VALLEY -- IDAHO

#4 Shaft Project - Construction

The #4 Shaft Project at Lucky Friday progressed well during the second quarter. The detailed engineering for an internal shaft descending from the 4900 level to 8800 level was completed and final Board of Directors' approval for completion of the project was received.

"We are very pleased with the progress of the #4 Shaft Project at the Lucky Friday," said Hecla's President and Chief Executive Officer, Phillips S. Baker, Jr. "The addition of the new shaft is expected to extend the mine life by more than 20 years and increase production by an additional two million ounces of silver per year with higher grades and mill throughput. We expect the Lucky Friday, which started in 1942, to be one of the few world-class assets to operate for more than a century."

Total capital expenditures for the #4 Shaft Project in the second quarter and first half of 2011 were $10.8 million and $22.4 million, respectively, for a total of approximately $70 million invested to date on the project. Total project capital is expected to be approximately $200 million, which includes $45 million budgeted for the full year of 2011, $40 million in both 2012 and 2013, and the remaining balance in 2014. We anticipate project completion in the second half of 2014.

This Mine Life/Mine Rate does not include additional potential production from the mine optimization study currently being prepared.

The hoist room and associated equipment installation were completed in the first half of 2011. We expect to start sinking shaft in the fourth quarter of 2011. The total project is now 38% complete and 78% of major procurements have been ordered or installed.

The economics of the #4 Shaft Project was limited by the capacity of the mill; hence, Hecla initiated a mine optimization study to understand the limits of the mine infrastructure. We expect this study to increase silver production beyond 5 million ounces annually. The study is expected by year-end.

Star -- Pre-Development Project

In North Idaho's Silver Valley, the Star-Morning mine operated from 1891 to 1982 and in the early 1990s. The Star-Morning mine was the second largest producing mine by tonnage in the Coeur d'Alene Mining District, reporting historic production of 71.6 million ounces of silver, 1.7 million tons of lead and 1.6 million tons of zinc (25.9 million tons at 2.7 ounces per ton silver, 6.6% lead, and 6.3% zinc). The Company has initiated a re-opening study.

Crews are currently rehabilitating the infrastructure and re-establishing ventilation on the Star 2000 level. Once access is re-established, drilling will begin to evaluate extensions of past-producing vein systems (Star, Noonday, You Like and Lucretia) in proximity to historic mine infrastructure. The current understanding of the vein structures suggests potential to define in excess of 30 million ounces of silver with significant zinc and lead above the water table. This rehabilitation work is expected to be complete by year-end and drill platforms established shortly afterward.

While the Star drift will provide access for exploration and potential production above the water table, further dewatering and refurbishment of the historical Star production shaft could allow access to deeper resources that were formerly classified as reserves when the mine closed in 1982. Additional development could create a common connection to the existing underground development at the Lucky Friday mine for ventilation and exploration.

Exploration

At Lucky Friday the definition and exploration drilling program is focusing in four key areas and recent assay results are shown in Appendix A:

-- Drilling from the 4050 level at the top of recent mine workings evaluated veins to the east between the 3600 level and 4100 level. This drilling has defined new resources in the 30 and 40 veins and suggests that mineralization is still open to the east and above the current resource.

-- Definition drilling continues to refine and upgrade the resources along the 20, 30 and 50 veins from the 6200 level to 6800 level to the west up to the Silver Fault.

-- Exploration drilling continued from the 5900 level #4 Shaft station and identified strong mineralization in the 30, 40 and 90 veins at the west side of the deposit to about the 6700 level to 7200 level.

-- An exploration hole from this station drilled westward was able to encounter and then cross the Silver Fault at approximately the 7800 level. Two wide, high-grade vein intercepts were identified in the Silver Fault.

In the Silver Valley, surface drilling has been under way since June at the Star on the You Like and Lucretia targets resulting in a high-grade 1.4 foot wide intersection of 48.4 ounces per ton silver, 3.4% lead, and 0.3% zinc, and 1.0 foot wide intersection of 13.3 ounces per ton silver, 15.3% lead, and 8.9% zinc. The first hole of an extensive drill program to expand the Noonday resource intersected an 18.3 foot wide interval of 13.0 ounces per ton silver and 22.2% lead.

SAN JUAN SILVER JV -- COLORADO

Equity Mine -- Pre-development Project

In the second quarter, Hecla successfully re-opened the Equity (North Amethyst) portal and ventilation adit at the San Juan Silver JV property in Creede, Colorado. The portal re-opening will provide additional underground drill platforms to evaluate the recent discovery of gold-silver mineralization from last year's surface drilling and to provide better definition of the high-grade ore shoots previously investigated in the 1980s. The underground drill program is being designed and could start to test targets at the Equity and West Amethyst veins by year-end. Underground access will allow for year-round exploration activities instead of seasonal work on these structures.

Bulldog Mine -- Pre-development Project

A major piece of the San Juan Silver JV land package includes the historic Bulldog mine, which produced 25 million ounces of silver for Homestake Mining before closing in 1985 as a result of lower metals prices. Hecla is developing a program to allow the construction of the surface infrastructure necessary to re-open the Bulldog mine to confirm and expand resources, and access the ore zones.

Exploration

Two drills have been operating on surface in Creede, Colorado since mid-May and have focused on extending mineralization along the Bulldog, Amethyst, Equity, and OH veins. This year's first drill hole targeted the northern trend of the "A Vein" on the Bulldog Vein system and intersected a 15-foot vein that contains galena, sphalerite, chalcopyrite, and fine-grained silver sulfosalts. Drilling has shifted to the east to drill the northwest extension of the OH Vein, a high-grade, past producer where the first hole has encountered a 4.5 foot wide barite-quartz vein and a 5.0 foot wide pyrite-barite-quartz vein in the hanging wall of the main OH Vein.

The first drill hole this year to follow up on last year's successful Amethyst Vein drilling encountered the west strand of the Amethyst Vein grading 0.2 ounce per ton gold, 6.0 ounces per ton silver, 1.6% copper, 0.9% lead, and 4.1% zinc over 1.8 feet. This intercept is about 10,000 feet on strike to the south from where the Equity mine is developed on the Amethyst Vein.

The Equity drilling targeted the newly interpreted location of the west strand of the Amethyst Vein structure. The upper sections of the hole have encountered mineralized structures and veinlets.

SAN SEBASTIAN -- MEXICO

Hugh Zone & Andrea Vein -- Pre-development Project & Exploration

The Hugh Zone is a high-grade down dip extension of the past-producing Francine Vein. A scoping study has been initiated to re-evaluate the previous Hugh Zone scoping work and integrate this with a study on the nearby Andrea Vein. The Hugh Zone currently contains an Inferred Resource of 1,142,500 tons grading 8.0 ounces per ton silver, 0.01 ounce per ton gold, 2.9% lead, 4.4% zinc, and 2.1% copper.

In the second quarter, exploration drilling continued to extend the Andrea Vein to the southeast. Although the Andrea Vein has been defined over 1.7 km of length, there are two higher-grade sections which total 1.2 km in strike length that are separated by a lower-grade segment of the Andrea Vein.

Initial 3D and economic modeling indicates the remnant Don Sergio mineralization and the newly intersected Andrea Vein may represent an economically viable target due to their close proximity. Since the mineralized vein is still open along strike, the in-fill drill programs on the Andrea Vein will focus on the definition of known higher-grade areas.

GREENS CREEK -- ALASKA

East Ore Zone

At Greens Creek, Hecla has retained a contractor to engineer the planned re-access into the East Ore Zone for the development of a mine plan that will extend Greens Creek's mine life. Currently, reserves in the East Ore Zone are 683,000 tons at 13 ounces per ton silver and 7.89% zinc. East Ore Zone resources consist of 1.2 million tons at 12.6 ounces per ton silver and 7.14% zinc. Exploration potential remains along strike to the southeast.

Exploration

Definition and exploration drilling of the western and southern extensions of the Gallagher zone defined a shallow, west dipping baritic ore zone containing lenses of massive sulfides and white carbonate material that vary from 15 to 45 feet in thickness and contain narrower, high-grade intervals. The mineralization outlined by this drilling measures approximately 120-feet along strike and 400 feet down dip. Assay results from the second quarter of 2011 with intersections of the Gallagher zone are shown in Appendix B.

Two drills will move next month to the 1147 Drift to initiate exploration drilling of the 200 South ore trend where over 22 million ounces of silver and 150,000 ounces of gold were added to resources in 2010. Designs for underground development are under way to provide drill platforms for in-fill drilling.

Three surface drills are on-site at Greens Creek until late September. Drilling has intersected the mineralized Lower West Wall target which is offset by the Maki Fault at the north end of the mine. Another drill is targeting the eastern extension of the East Ore Zone and the underlying Northeast contact that extends through this area. About two miles north of the current mine workings in the Cub area, drilling has intersected two and three-foot wide mineralized intervals in the shallow projection of the Northeast contact.

CONFERENCE CALL AND WEBCAST

A conference call and webcast will be held Tuesday, August 9, at 1:00 p.m. Eastern Time to discuss these results along with our second quarter financial and operating results. You may join the conference call by dialing toll-free 1-866-800-8649 or 1-617-614-2703 internationally. The participant passcode is HECLA.

Hecla's live and archived webcast can be accessed at www.hecla-mining.com under Investors or via Thomson StreetEvents Network. Individual investors can listen to the call at www.earnings.com , Thomson's individual investor portal, powered by StreetEvents. Institutional investors can access the call via Thomson Street Events ( www.streetevents.com ), a password-protected event management site.

ABOUT HECLA

Established in 1891, Hecla Mining Company is the largest and lowest cash cost silver producer in the U.S. The company has two operating mines and exploration properties in four world-class silver mining districts in the U.S. and Mexico.

Cautionary Statements

Statements made which are not historical facts, such as anticipated payments, litigation outcome (including settlement negotiations), production, sales of assets, exploration results and plans, costs, and prices or sales performance are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to, metals price volatility, volatility of metals production and costs, environmental and litigation risks, operating risks, project development risks, political risks, labor issues, ability to raise financing and exploration risks and results. Refer to the company's Form 10-K and 10-Q reports 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.

Cautionary Statements to Investors on Reserves and Resources

The United States Securities and Exchange Commission permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this release, such as "resource," "other resources," and "mineralized materials" that the SEC guidelines strictly prohibit us from including in our filings with the SEC. U.S. investors are urged to consider closely the disclosure in our Form 10-K and Form 10Q. You can review and obtain copies of these filings from the SEC's website at www.sec.gov .

SOURCE: Hecla Mining Company


Hecla Mining Company
Melanie Hennessey, 604-694-7729
Vice President -- Investor Relations
Direct Main: 800-HECLA91 (800-432-5291)
[email protected]

                              www.hecla-mining.com