Record Financial Performance
Hecla Mining achieved record sales of $304 million, net income of nearly $58 million, and record adjusted EBITDA of $133 million. Additionally, they generated cash from operations over $160 million and record quarterly free cash flow of $104 million.
Cost Efficiency at Silver Operations
Silver operations delivered cash costs of negative $5.46 per ounce and all-in sustaining costs of $5.19 per ounce after byproduct credits. Casa Berardi's unit costs dropped by over $600 per ounce over the prior quarter.
Operational Milestones
Lucky Friday set a new quarterly milling record, and Greens Creek delivered a strong performance with increased production and reduced cost guidance.
Keno Hill Optimization
Keno Hill's revised production target of 440 tonnes per day offers superior returns, with a significant IRR of 35% at $30 silver. The focus on optimization and systematic derisking increases confidence in the project's potential.
Balance Sheet Strengthening
The company improved its net leverage ratio to 0.7x and initiated a partial redemption for $212 million of their senior notes, reducing future interest expenses by about $16 million annually.