Today a judge ruled that both Hecla and the plaintiffs (the United States, the Coeur d’Alene Indian Tribe, and the State of Idaho) wil be able to extend the verdict in the litigation provided that bi-weekly updates are given. Most likely, a final agreement will be reached by May, June at the latest. Hecla believes the following will be agreed upon by all parties, though without a final consensus, anything is possible [more]
Hecla Mining Co suffered from a collapse of their Lucky Mine Friday afternoon. Two miners were 6150 ft down in the mine when the mie collapsed. One of the two got out while a rescue team is working to locate and extract the other miner. So far, this is not being reported on HL's website I imagine this might change, I found it at NPR. This is undoubtedly horrible for that miner and his family. Even more so for Hecla. It is uncertain how much of a setback they will experience from this. So far, there does not seem to be any indication that this collapse was due to a lack of implementation of safety measures or infrasctutre, but we'll have to wait and see what other info becomes available. Given the financial straits they will be in once the litigation is complete, this could very well test HL's resolve and future. I guess we can expect a big drop in share price on Monday [more]
After reading almost all of Hecla's 10k for 2010, I am left wondering whether or not their future is on a good track. I haven't read many 10ks due to the fact that 1) I have only been investing for a few years, and 2) I have been lazy. And, I think this is my first time reading a miners 10-K. Having said that, I have never imagined reading an annual report rife/ripe/loaded with so many warnings about investing in the company. [more]
Well, it must be a trend, kind of like follow the leader or indian running or something bt top notch miners are releasing epic quarterly reports. Last week it was Gammon Gold, today its Endeavor Silver and their 2011 Q1 report. Endeavor silver production was up 17% from the same time last year and their gold production was up 33% from the same time last year. Add to that increases in the price for both PM's, and we're talking stellar quarter. In fact,a quick breakdown of the data is here from the quarterly report.
Production Highlights of First Quarter 2011 (Compared to First Quarter 2010) [more]