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Hecla Mining Company

www: www.hecla-mining.com   email: hmc-info@hecla-mining.com
Category: Mid-tier Producer
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NYSE:HL USD

Description

Hecla Mining Company are a gold and silver focused mid-tier producer with four producing mines in Canada and USA, six mines in development in Canada and USA and exploration properties. Currently they produce roughly 250koz. of gold and 10.0Moz. of silver per year. They have approximately 10Moz. of gold and 700Moz. of silver in the reserves and resources category of which 6.5Moz. of gold and 300Moz. of silver are in the measured and indicated category. They have a market capitalisation of ~$896.52M which is a fall of roughly 21% over the last ten months. As of 01/01/2019 they have ~$548M debt and ~$60M cash. They have 480M shares outstanding and trade on the New York Stock Exchange.

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General Details

Financial 01/01/2019
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Mkt. Cap (FD): $1,132.70M $896.52M 01/01/2019 $-236.18M
Total Assets: $2,700.00M $2,700.00M 01/01/2019 $0.00M
Total Liabilities: $988.00M $988.00M 01/01/2019 $0.00M
Current Assets: $198.00M $198.00M 01/01/2019 $0.00M
Current Liabilities: $132.00M $132.00M 01/01/2019 $0.00M
Total Debt: $548.00M $548.00M 01/01/2019 $0.00M
Cash: $60.00M $60.00M 01/01/2019 $0.00M
Enterprise Value: $1,620.70M $1,384.52M 11/15/2013 $-236.18M
Cash Flow: $17.66M $67.15M never $49.49M
Cash Flow Multiple: 64.15 13.35 never -50.80
Net Debt to
Cash Flow Ratio:
27.64 7.27 never -20.37
Finance within 1 year: 01/01/2019 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 01/01/2019 0.00%
Misc 01/01/2019
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Shares Outstanding: 480,000,000 480,000,000 01/01/2019 0
Shares (FD): 482,000,000 482,000,000 01/01/2019 0
Insider Ownership: n/a n/a never n/a
Company Type: Mostly Silver Mostly Silver never n/a
Production ETA: n/a n/a 01/01/2019 n/a
Production (Gold Eq Oz.): (guess) 
370,661
(guess) 
366,368
01/01/2019 -4,293
Production (Silver Eq Oz.): (guess) 
30,719,134
(guess) 
31,483,564
01/01/2019 764,430
Initial CapEx (Outstanding): n/a n/a 01/01/2019 n/a
Funding Option: n/a n/a 01/01/2019 n/a
Documentation: none PRODUCER 06/01/2019 n/a
Value Adjustment: none none never 0%

Resource Data

GOLD 01/01/2019
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: 2.50M 2.50M 01/01/2019 0.00M
Measured & Indicated: 6.50M 6.50M 01/01/2019 0.00M
Inferred: 3.50M 3.50M 01/01/2019 0.00M
Reserves & Resources: 10.00M 10.00M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: 2.25M 2.25M 01/01/2019 0.00M
Measured & Indicated: 5.13M 5.13M 01/01/2019 0.00M
Inferred: 1.58M 1.58M 01/01/2019 0.00M
Reserves & Resources: 6.71M 6.71M never 0.00M
C
U
R
R
E
N
T
Annual Production: (guess) 
250,000oz.
(guess) 
250,000oz.
01/01/2019 0oz.
Cash Cost: $800 $800 01/01/2019 $0.00
Extra Operating Cost: $400 $400 01/01/2019 $0.00
Average Grade: 2.00 g/t 2.00 g/t 01/01/2019 n/a
Recovery Rate: (CG)  90.00% (CG)  90.00% 06/01/2019 0.00%
F
U
T
U
R
E
Proven & Probable: 7.00M 7.00M 01/01/2019 0.00M
Annual Production: 250,000oz. 250,000oz. 01/01/2019 0oz.
Cash Cost: $800 $800 01/01/2019 $0
Extra Operating Cost: $400 $400 01/01/2019 $0
SILVER 01/01/2019
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: 175.00M 175.00M 01/01/2019 0.00M
Measured & Indicated: 300.00M 300.00M 01/01/2019 0.00M
Inferred: 400.00M 400.00M 01/01/2019 0.00M
Reserves & Resources: 700.00M 700.00M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: 157.50M 157.50M 01/01/2019 0.00M
Measured & Indicated: 247.50M 247.50M 01/01/2019 0.00M
Inferred: 180.00M 180.00M 01/01/2019 0.00M
Reserves & Resources: 427.50M 427.50M never 0.00M
C
U
R
R
E
N
T
Annual Production: (guess) 
10,000,000oz.
(guess) 
10,000,000oz.
01/01/2019 0oz.
Cash Cost: $7 $7 01/01/2019 $0.00
Extra Operating Cost: $8 $8 01/01/2019 $0.00
Average Grade: 200.00 g/t 200.00 g/t 01/01/2019 n/a
Recovery Rate: (CG)  90.00% (CG)  90.00% 06/01/2019 0.00%
F
U
T
U
R
E
Proven & Probable: 400.00M 400.00M 01/01/2019 0.00M
Annual Production: 20,000,000oz. 20,000,000oz. 01/01/2019 0oz.
Cash Cost: $8 $8 01/01/2019 $0
Extra Operating Cost: $8 $8 01/01/2019 $0

Property

Last Analysis Data  (01/01/2019)
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Production Quebec, Canada Casa Berardi 100% n/a n/a n/a
Production Admiralty Island, Al, USA Greens Creek 100% n/a n/a n/a
Production Mullan, Id, USA Lucky Friday 100% n/a n/a n/a
Production Montana, USA Troy 100% n/a Underground show
Production has halted until Q4 2014. They had problems with a road.

93 million oz deposit, but are only mining 1.3 million oz per year.

17 million oz of P&P.

Potential to expand production.
Development Rouyn-noranda, Canada Joanna 100% n/a n/a n/a
Development Manitoba, Canada True North 100% (guess) 40,000 Underground show
Old San Gold property. 50,000 oz producing mine.

1.5 million oz resource. Underground.
Development Nevada, USA Fire Creek 100% 7,000 Underground show
1+ million oz high grade deposit.

Excellent exploration potential.
Development Nevada, USA Midas 100% (guess) 12,000 Underground show
200,000 oz high grade deposit.
Development Montana, USA Montanore 100% n/a Underground show
Currently permitting. Should be completed in 2015 if there are no legal challenges.

230 million oz deposit (60 gpt), plus 1.7 billion lbs of copper.
Development Lincoln County, USA Rock Creek 100% n/a Underground show
230 million oz deposit (50 gpt). Plus 2.5 billion lbs of copper.

Need final permit (due in 2015).

After final permit, they will need 4-5 years for the final feasibility study and construction.

Production possible in 2019 or 2020.
Exploration Amos, Qc, Canada Duverny 0% n/a n/a n/a
Exploration Joannes Township, Canada Fayolle 0% n/a n/a n/a
Exploration Rouyn-noranda, Canada Kipawa 100% n/a n/a n/a
Exploration Quebec, Canada Marban 0% n/a n/a n/a
Exploration James Bay, Canada Opinaca 0% n/a n/a n/a
Exploration Joannes Township, Canada Patris 0% n/a n/a n/a
Exploration Nunavik, Canada Rex South 0% n/a n/a n/a
Exploration James Bay, Canada Wildcat 0% n/a n/a n/a
Exploration Durango City, Mexico San Sebastian 100% n/a n/a n/a
Exploration Peru La Estrella 75% (guess) 2,500 Open Pit show
Low grade gold deposit with silver offsets.

Early exploration.
Exploration Colorado, USA Bulldog and Equity 100% n/a n/a n/a
Exploration Nevada, USA Hollister 100% (guess) 7,000 n/a show
They paid $80 million in 2016.
Exploration Crescent Valley, Nevada, USA Hot Springs Point 100% n/a n/a n/a
Exploration Montana, USA JF 100% n/a n/a n/a
Exploration Nevada, USA Maggie Creek 66% n/a n/a n/a
Exploration Churchill County, Nevada, USA Reef 100% n/a n/a n/a
Exploration Creede, Colorado, USA San Juan 100% n/a n/a n/a
Exploration Coeur Dalene, USA Silver Valley 100% n/a n/a n/a
Exploration USA Star and Noonday 100% n/a n/a n/a
Exploration Montana, USA Vermillon River-Simms Creek 100% n/a n/a n/a
Total Land Package Size (ha): 68,500  
Current Data
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Production Quebec, Canada Casa Berardi 100% n/a n/a n/a
Production Admiralty Island, Al, USA Greens Creek 100% n/a n/a n/a
Production Mullan, Id, USA Lucky Friday 100% n/a n/a n/a
Production Montana, USA Troy 100% n/a Underground show
Production has halted until Q4 2014. They had problems with a road.

93 million oz deposit, but are only mining 1.3 million oz per year.

17 million oz of P&P.

Potential to expand production.
Development Rouyn-noranda, Canada Joanna 100% n/a n/a n/a
Development Manitoba, Canada True North 100% (guess) 40,000 Underground show
Old San Gold property. 50,000 oz producing mine.

1.5 million oz resource. Underground.
Development Nevada, USA Fire Creek 100% 7,000 Underground show
1+ million oz high grade deposit.

Excellent exploration potential.
Development Nevada, USA Midas 100% (guess) 12,000 Underground show
200,000 oz high grade deposit.
Development Montana, USA Montanore 100% n/a Underground show
Currently permitting. Should be completed in 2015 if there are no legal challenges.

230 million oz deposit (60 gpt), plus 1.7 billion lbs of copper.
Development Lincoln County, USA Rock Creek 100% n/a Underground show
230 million oz deposit (50 gpt). Plus 2.5 billion lbs of copper.

Need final permit (due in 2015).

After final permit, they will need 4-5 years for the final feasibility study and construction.

Production possible in 2019 or 2020.
Exploration Amos, Qc, Canada Duverny 0% n/a n/a n/a
Exploration Joannes Township, Canada Fayolle 0% n/a n/a n/a
Exploration Rouyn-noranda, Canada Kipawa 100% n/a n/a n/a
Exploration Quebec, Canada Marban 0% n/a n/a n/a
Exploration James Bay, Canada Opinaca 0% n/a n/a n/a
Exploration Joannes Township, Canada Patris 0% n/a n/a n/a
Exploration Nunavik, Canada Rex South 0% n/a n/a n/a
Exploration James Bay, Canada Wildcat 0% n/a n/a n/a
Exploration Durango City, Mexico San Sebastian 100% n/a n/a n/a
Exploration Peru La Estrella 75% (guess) 2,500 Open Pit show
Low grade gold deposit with silver offsets.

Early exploration.
Exploration Colorado, USA Bulldog and Equity 100% n/a n/a n/a
Exploration Nevada, USA Hollister 100% (guess) 7,000 n/a show
They paid $80 million in 2016.
Exploration Crescent Valley, Nevada, USA Hot Springs Point 100% n/a n/a n/a
Exploration Montana, USA JF 100% n/a n/a n/a
Exploration Nevada, USA Maggie Creek 66% n/a n/a n/a
Exploration Churchill County, Nevada, USA Reef 100% n/a n/a n/a
Exploration Creede, Colorado, USA San Juan 100% n/a n/a n/a
Exploration Coeur Dalene, USA Silver Valley 100% n/a n/a n/a
Exploration USA Star and Noonday 100% n/a n/a n/a
Exploration Montana, USA Vermillon River-Simms Creek 100% n/a n/a n/a
Total Land Package Size (ha): 68,500  

Profitability (by resource)

Proven &
Probable
01/01/2019
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 54.21% 55.11% n/a 0.90%
Percentage Silver: 45.79% 44.89% n/a -0.90%
Total (Gold Eq. Oz.): 4.61M 4.54M n/a -0.08M
Total (Silver Eq. Oz.): 382.19M 389.84M n/a 7.64M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 4.15M 4.08M n/a -0.07M
Silver Eq. Oz.: 343.97M 350.85M n/a 6.88M
Maximum Profit (Gold): $129.31M $456.91M n/a $327.60M
Maximum Profit (Silver): $51.82M $257.99M n/a $206.17M
Total Maximum Profit: $181.13M $714.89M n/a $533.77M
Max Profit / Current MCap: 0.160 0.797 n/a 0.638
Max Profit Per Share (Gold): $0.27 $0.95 n/a $0.68
Max Profit Per Share (Silver): $0.11 $0.54 n/a $0.43
Total Max Profit Per Share: $0.38 $1.48 n/a $1.11
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $272.91 $219.58 n/a $-53.33
FD Mkt. Cap / Silver Eq.: $3.29 $2.56 n/a $-0.74
FD Mkt. Cap / Per Metal
as % Spot Price:
21.29% 14.74% n/a -6.55%
Measured &
Indicated
01/01/2019
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 64.23% 65.06% n/a 0.83%
Percentage Silver: 35.77% 34.94% n/a -0.83%
Total (Gold Eq. Oz.): 10.12M 9.99M n/a -0.13M
Total (Silver Eq. Oz.): 838.70M 858.57M n/a 19.88M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 8.12M 8.01M n/a -0.11M
Silver Eq. Oz.: 672.66M 688.34M n/a 15.69M
Maximum Profit (Gold): $294.82M $1,041.75M n/a $746.93M
Maximum Profit (Silver): $81.43M $405.41M n/a $323.98M
Total Maximum Profit: $376.25M $1,447.15M n/a $1,070.91M
Max Profit / Current MCap: 0.332 1.614 n/a 1.282
Max Profit Per Share (Gold): $0.61 $2.16 n/a $1.55
Max Profit Per Share (Silver): $0.17 $0.84 n/a $0.67
Total Max Profit Per Share: $0.78 $3.00 n/a $2.22
Total Free Profit Per Share: $0.00 $1.14 n/a $1.14
FD Mkt. Cap / Gold Eq.: $139.56 $111.92 n/a $-27.63
FD Mkt. Cap / Silver Eq.: $1.68 $1.30 n/a $-0.38
FD Mkt. Cap / Per Metal
as % Spot Price:
10.89% 7.51% n/a -3.37%

Reserves &
Resources
01/01/2019
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 54.21% 55.11% n/a 0.90%
Percentage Silver: 45.79% 44.89% n/a -0.90%
Total (Gold Eq. Oz.): 18.45M 18.15M n/a -0.30M
Total (Silver Eq. Oz.): 1,528.77M 1,559.34M n/a 30.58M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 11.86M 11.68M n/a -0.18M
Silver Eq. Oz.: 983.19M 1,003.69M n/a 20.50M
Maximum Profit (Gold): $385.34M $1,361.58M n/a $976.25M
Maximum Profit (Silver): $140.65M $700.25M n/a $559.60M
Total Maximum Profit: $525.98M $2,061.83M n/a $1,535.85M
Max Profit / Current MCap: 0.464 2.300 n/a 1.835
Max Profit Per Share (Gold): $0.80 $2.82 n/a $2.03
Max Profit Per Share (Silver): $0.29 $1.45 n/a $1.16
Total Max Profit Per Share: $1.09 $4.28 n/a $3.19
Total Free Profit Per Share: $0.00 $2.42 n/a $2.42
FD Mkt. Cap / Gold Eq.: $95.48 $76.76 n/a $-18.72
FD Mkt. Cap / Silver Eq.: $1.15 $0.89 n/a $-0.26
FD Mkt. Cap / Per Metal
as % Spot Price:
7.45% 5.15% n/a -2.30%

Future Valuation (Cash Flow & Totals)

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