Hecla Mining Increases Silver, Gold Production in 2013

Hecla Mining Co. (NYSE:HL) announced its results for the fourth quarter of 2013 as well as for 2013 as a whole, commenting that its revenue for the full year came to $382.6 million, while its gross profit came to $66.1 million “with a net loss to common stockholders of $25.7 million.”

In terms of production, the company put out 8.9 million ounces of silver and 120,000 ounces of gold in 2013. Compared to 2012, those are increases of 39 and 116 percent, respectively.

Other 2013 highlights include:

  • Acquired Aurizon and its Casa Berardi gold mine.
  • Issued $500 million of 6.875% senior notes due in 2021.
  • Returned Lucky Friday to historical full production rate in September.
  • Silver production of 8.9 million ounces, a 39% increase over 2012, at an average cash cost, after by-product credits, per silver ounce of $6.84.²
  • Gold production of 119,989 ounces, of which 62,532 ounces were produced at Casa Berardi at an average cash cost, after by-product credits, per gold ounce of $951.²
  • Net loss applicable to common stockholders of $25.7 million, or $0.08 per basic share, and an adjusted net loss applicable to common stockholders of $12.7 million, or $0.04 per basic share.¹
  • Operating cash flow of $26.6 million.
  • Adjusted EBITDA of $130.3 million.³
  • Cash and cash equivalents of $212.2 million at December 31, 2013.

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