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Jbay76 (< 20)

Hecla's 3Q is nothing to heckle about

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November 08, 2011 – Comments (0) | RELATED TICKERS: HL , SIL

So, all humor aside, Hecla's 3Q report is spectacular.  They truly are the lowest cost silver producer out there, with a cash cost of $0.67/oz silver, net of by-products.  Some quick highlights are:

* Sales of $120.5 million, a 4% increase over the same period in 2010

* Operating cash flow of $60.7 million, a 49% increase over the same period in 2010

* Silver production of 2.3 million ounces at a total cash cost of $0.67 per ounce, net of by-products

* ntroduced a new quarterly silver price-linked common stock dividend policy and declared the first dividend under the policy of $0.02 per common stock based on an average realized silver price of $37.02 per ounce during the quarter

* Increased the capacity under the revolving credit agreement to $100 million

* Cash and cash equivalents of $414 million at September 30, 2011

 

Now, if after reading this and the actual report, you say "Big Deal", or something to that effect, bear in mind that this company has not had an easy year.  They had the incident at the Lucky mine and the litigation settlement both occur in the first half of the year. Yet, they keep on moving forward and making profits quarter after quarter.  So keep Hecla'ing along little doggie.....

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