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Hecla Mining Company (NYSE:HL) today announced fourth quarter and year end 2017 financial and operating results. 2017 HIGHLIGHTS - Revenues of $577.8 million, the second highest in Company history after the record set in 2016.
- Net loss applicable to common stockholders of $24.1 million ($0.06 per share).
- Tax provision of $19.9 million due in part to changes in U.S. tax law.
- Adjusted net income applicable to common stockholders of $38.8 million, $0.10 per share.1
- Cash flows from operations of $115.9 million.
- Cost of sales and other direct production costs and depreciation, depletion and amortization ("cost of sales") of $420.8 million.
- Total cash cost, after by-product credits, per silver ounce of ($0.01), the lowest in 7 years.2
- All in sustaining cost ("AISC"), after by-product credits, per silver ounce of $7.86, down 33%.3
- Silver production of 12.5 million ounces, the second highest in Company history.
- Gold production of 232,684 ounces, the third highest in Company history.
- Silver equivalent production of 40.9 million ounces or gold equivalent of 554,843 ounces.8
- Record silver, gold and lead reserves and highest zinc reserves in five years.
- Gold production at Casa Berardi of 156,653 ounces, the highest since its acquisition.
- Cash, cash equivalents and short-term investments of approximately $220 million at year end, an increase of about $21 million.
- 19% reduction in the All Injury Frequency Rate across the four mines.
"Our focus of improving our long-lived operations led to increased throughput and lower costs which, coupled with significantly higher base metals prices, drove our increasing cash balance and continued strong adjusted," said Phillips S. Baker, Jr., President and CEO. "2018 should have further value creation at all our mines as we advance low-cost, high-return technologies that are focused on improving productivity. We are also taking a bulk sample of San Sebastian's polymetallic zone which could further extend its mine life. Exploration spending is increasing as we see further opportunities for both discoveries and resource growth." https://www.minenportal.de/artikel.php?sid=225944&lang=en#Hecla-Reports-Fourth-Quarter-and-Full-Year-2017-Results target=
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