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https://sites.google.com/site/goldandsilver2012/company-reviews-by-goldstocksdaily-com/hecla-mining
Hecla is the oldest U.S.-based precious metals mining company in North America and the largest producer of silver in the U.S. Headquartered in Coeur d'Alene, Idaho, with a sister office in Vancouver, B.C., this international, publicly traded company is 119 years old.
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https://sites.google.com/site/goldandsilver2012/company-reviews-by-goldstocksdaily-com/hecla-mining
In 2009, Hecla was one of the lowest-cost primary silver producers in North America, producing a record 10.9 million ounces of silver at an average total cash cost of $1.91 per ounce. The company has exploration properties and operating mines in the U.S. and Mexico.
Hecla currently produces silver from two silver mines, Greens Creek and Lucky Friday.
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https://sites.google.com/site/goldandsilver2012/company-reviews-by-goldstocksdaily-com/hecla-mining
Greens Creek – Alaska
In 2008 Hecla purchased the remaining 70% of Greens Creek(they owned 30%) from Rio Tinto for $750 million. In 2009, Greens Creek, which is the fifth largest silver mine in the world, produced 7.5 million ounces of silver. Greens Creek is an underground mine in Alaska which produces approximately 2,100 tons of ore per day. Greens Creek makes up 3/4 of Hecla's overall production. For 2010, Hecla expects the mine to produce 7+ million oz of silver and 60,000 oz of gold(plus lead and zinc.)
go to
https://sites.google.com/site/goldandsilver2012/company-reviews-by-goldstocksdaily-com/hecla-mining
Now, the purchase of Greens Creek came at a very bad time for Hecla. They bought it in mid 2008, just before the banking crisis hit. They took on a lot of debt to buy Greens Creek, so when the market crashed, HL got crushed because the street thought they would go bankrupt. Well, Hecla has paid down all of their bank debt, and cash in now rising.
Lucky Friday – Idaho
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https://sites.google.com/site/goldandsilver2012/company-reviews-by-goldstocksdaily-com/hecla-mining
The Lucky Friday silver mine is located in one of the world's most prolific silver-producing districts, northern Idaho's Silver Valley. It is the deepest operating mine in the United States and has been in commercial production since 1942. Since 1958, Hecla has owned and operated the Lucky Friday mine. Over the past 67 years, nearly 144.5 million ounces of silver have been mined, with 3.5 million ounces produced in 2009 at an average ore grade of 10.86 ounces of silver per ton. The total average cash cost in 2009 was $5.21 per oz.
Just press play, and please be patient while the video loads, it is well worth the wait.
Highlights of Lucky Friday:
Financials and Production
$197 million in cash and no debt
For 2010, Hecla expects production of 10 to 11 million ounces of silver and 60,000 oz of gold.
Conclusion
Hecla has 2 mines in production. Each of these mines has a long life and are low cost. With their current production guidance, the company should continue to generate significant cash flow, providing the price of precious metals at least remains at these levels.
One negative about Hecla, they really don't project any real growth in production over the next few years. I would like to see them make some acquisitions here. They have almost $200 million in cash and no debt so I'm sure they are looking around some. There are lots of quality silver miners trading at low levels. However, there is ample room for growth at both of its current mines, so maybe that is their focus instead of going outside the company. Plus, the Lucky Friday mine seems to have some real exciting potential.
They do have a couple of exploration properties, but I really don't like talking about a companies exploration sites. There is too much unknown, too much unproven, and lots of speculation when dealing with these.
All in all, Hecla is a traditional mining company with over 100 years of history. It really is a true American miner.
go to
https://sites.google.com/site/goldandsilver2012/company-reviews-by-goldstocksdaily-com/hecla-mining
by
http://goldstocksdaily.com/2010/07/03/hecla-mining/
https://sites.google.com/site/goldandsilver2012/company-reviews-by-goldstocksdaily-com/hecla-mining
Hecla is the oldest U.S.-based precious metals mining company in North America and the largest producer of silver in the U.S. Headquartered in Coeur d'Alene, Idaho, with a sister office in Vancouver, B.C., this international, publicly traded company is 119 years old.
go to
https://sites.google.com/site/goldandsilver2012/company-reviews-by-goldstocksdaily-com/hecla-mining
In 2009, Hecla was one of the lowest-cost primary silver producers in North America, producing a record 10.9 million ounces of silver at an average total cash cost of $1.91 per ounce. The company has exploration properties and operating mines in the U.S. and Mexico.
Hecla currently produces silver from two silver mines, Greens Creek and Lucky Friday.
go to
https://sites.google.com/site/goldandsilver2012/company-reviews-by-goldstocksdaily-com/hecla-mining
Greens Creek – Alaska
In 2008 Hecla purchased the remaining 70% of Greens Creek(they owned 30%) from Rio Tinto for $750 million. In 2009, Greens Creek, which is the fifth largest silver mine in the world, produced 7.5 million ounces of silver. Greens Creek is an underground mine in Alaska which produces approximately 2,100 tons of ore per day. Greens Creek makes up 3/4 of Hecla's overall production. For 2010, Hecla expects the mine to produce 7+ million oz of silver and 60,000 oz of gold(plus lead and zinc.)
go to
https://sites.google.com/site/goldandsilver2012/company-reviews-by-goldstocksdaily-com/hecla-mining
Now, the purchase of Greens Creek came at a very bad time for Hecla. They bought it in mid 2008, just before the banking crisis hit. They took on a lot of debt to buy Greens Creek, so when the market crashed, HL got crushed because the street thought they would go bankrupt. Well, Hecla has paid down all of their bank debt, and cash in now rising.
Lucky Friday – Idaho
go to
https://sites.google.com/site/goldandsilver2012/company-reviews-by-goldstocksdaily-com/hecla-mining
The Lucky Friday silver mine is located in one of the world's most prolific silver-producing districts, northern Idaho's Silver Valley. It is the deepest operating mine in the United States and has been in commercial production since 1942. Since 1958, Hecla has owned and operated the Lucky Friday mine. Over the past 67 years, nearly 144.5 million ounces of silver have been mined, with 3.5 million ounces produced in 2009 at an average ore grade of 10.86 ounces of silver per ton. The total average cash cost in 2009 was $5.21 per oz.
During 2008, Hecla initiated engineering, procurement and development activities relating to construction of an internal shaft at the Lucky Friday mine, which, upon completion, will provide access from the 4900 level down to the 8000 level of the mine(see video below). However, the project was temporarily placed on hold in the fourth quarter of 2008 due to then prevailing metals prices
Just press play, and please be patient while the video loads, it is well worth the wait.
Highlights of Lucky Friday:
Financials and Production
$197 million in cash and no debt
For 2010, Hecla expects production of 10 to 11 million ounces of silver and 60,000 oz of gold.
Conclusion
Hecla has 2 mines in production. Each of these mines has a long life and are low cost. With their current production guidance, the company should continue to generate significant cash flow, providing the price of precious metals at least remains at these levels.
One negative about Hecla, they really don't project any real growth in production over the next few years. I would like to see them make some acquisitions here. They have almost $200 million in cash and no debt so I'm sure they are looking around some. There are lots of quality silver miners trading at low levels. However, there is ample room for growth at both of its current mines, so maybe that is their focus instead of going outside the company. Plus, the Lucky Friday mine seems to have some real exciting potential.
They do have a couple of exploration properties, but I really don't like talking about a companies exploration sites. There is too much unknown, too much unproven, and lots of speculation when dealing with these.
All in all, Hecla is a traditional mining company with over 100 years of history. It really is a true American miner.
go to
https://sites.google.com/site/goldandsilver2012/company-reviews-by-goldstocksdaily-com/hecla-mining
by
http://goldstocksdaily.com/2010/07/03/hecla-mining/
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