Hecla Mining Q1 Silver Production Up 16%, But Gold Production Down 12%

(RTTNews) - Hecla Mining Co. (HL) announced preliminary production results for the first quarter 2015. Silver production for the quarter was 2.9 million ounces, a 16% increase from last year. Gold production for the quarter was 40,651 ounces, down 12% from the prior year.

Silver equivalent production was 8.7 million ounces, a 1% decrease from the previous year. Lead production increased 3% and zinc production decreased 6%.

The company noted that Cash and cash equivalents was about $194 million as of March 31, 2015.

Greens Creek's first quarter production of 2.0 million ounces of silver and 15,239 ounces of gold exceeded the first quarter 2014 production of silver and gold by 14% and 2%, respectively. The increase was principally due to mine sequencing, higher silver grades and higher silver and gold recoveries.

Lucky Friday's first quarter silver production of 836,719 ounces was 20% higher than the first quarter 2014 production on higher silver grades and recoveries. The mill operated at an average of 825 tpd in the first quarter.

Casa Berardi's first quarter gold production of 25,412 ounces was 19% lower than the first quarter 2014 production because of lower grades and recovery. The mine experienced lower grades as a result of mine sequencing. Recoveries are lower due to new metallurgical characteristics of the ore from the 118 Zone requiring adjustments to the plant which are expected to improve recoveries in the second quarter. The mill operated at an average of 2,090 tpd in the first quarter.