|
In 2010, Hecla was the lowest-cost primary silver producer in the U.S., producing 10.6 million ounces of silver at an average total cash cost per ounce of negative $1.46. Hecla has proven operating expertise and highly prospective exploration opportunities where it operates in the U.S., as well as within its development projects in Colorado and Mexico. [Source: Hecla Profile webpage (viwed May 2011)]
The Hecla Mining Company website is at www.hecla-mining.com.
Information Links: Yahoo News and Quotes | Yahoo Message Board | StockCharts
This report is based on NI 43-101 resource and reserve disclosures and fully diluted share counts available on 2011-05-30.
The GoldMinerPulse metrics, presented below in table format, are based on all projects and all in situ metals and are updated daily with closing market prices.
| General Metric | Value on 2012-05-17 |
|---|---|
| In Situ Metal Value per Share (MVpSh) | US$60.06 |
| Average Ore Value per Tonne | US$489.04 |
| Metal Value Leverage (MVL) | 15.45 |
| Market Capitalization as a Percentage of Metal Value | 6.5% |
| Recent Closing Stock Price | C$3.96 [note 1] |
| Fully Diluted Share Count | 304.00 M [note 2] |
| Percentage In Situ Proven + Probable Reserve | 42% |
| Percentage In Situ Measured + Indicated Resource | 26% |
| Percentage In Situ Inferred Resource | 32% |
| Metric | Value on 2012-05-17 |
|---|---|
| Silver Reserves + Resources | 389.73 M oz |
| Average Silver Ore Grade | 326.6 g/t |
| Market Capitalization per oz of Silver In Situ | US$3.03 ( C$3.09 ) |
| Silver Equivalent Ounces Estimate | 650.69 M oz |
| Market Capitalization per oz of Silver Equivalent | US$1.82 ( C$1.85 ) |
Note 1: Conversion rate used: 1 Cnd$ = 0.981357 US$
Note 2: See Investor Fact Sheet (viewed May 2011).
All metal counts in this section are based on the combined Proven + Probable reserves plus the Measured + Indicated and Inferred resources.
| Metric / Metal | Gold | Silver | Lead | Zinc | ||
|---|---|---|---|---|---|---|
| Total Counts (reserves + resources) | 851.56 K oz | 389.73 M oz | 1.59 M t | 1.53 M t | ||
| Metal Prices in US$ (from 2012-05-17) | $1,574.10 / oz | $28.06 / oz | $0.87480 / lb | $0.86110 / lb | ||
| Metal Value per Share (MVpSh) Shown in US$. Based on fully diluted share count | $4.41 | $35.97 | $10.11 | $9.57 | ||
| Percentage of Total Metal Value | 7.34% | 59.90% | 16.83% | 15.93% | ||
| Metal Value Percentage Proven + Probable | 89% | 36% | 32% | 51% | ||
| Metal Value Percentage Measured + Indicated | 6% | 27% | 38% | 20% | ||
| Metal Value Percentage Inferred | 5% | 37% | 31% | 29% | ||
The above metal value totals derive from the following projects.
| Project | Location | Metal Value per share (% total) | Average Ore Value US$/t | Gold | Silver | Lead | Zinc | PP% | MI% | I% |
|---|---|---|---|---|---|---|---|---|---|---|
| Lucky Friday | Idaho, USA | $28.61 ( 47.6% ) | US$400.23 | 199.34 M oz | 1.15 M t | 465.77 K t | 21% | 51% | 28% | |
| Green Creek | Alaska, USA | $26.87 ( 44.7% ) | US$673.23 | 851.56 K oz | 154.23 M oz | 362.74 K t | 949.06 K t | 71% | 3% | 26% |
| San Juan Silver | Colorado, USA | $2.77 ( 4.6% ) | US$428.64 | 25.98 M oz | 33.39 K t | 25.53 K t | 0 | 0 | 100% | |
| San Sebastian Hugh | Durango, Mexico | $1.32 ( 2.2% ) | US$386.91 | 9.14 M oz | 30.06 K t | 45.60 K t | 0 | 0 | 100% | |
| Noonday | Idaho, USA | $0.49 ( 0.8% ) | US$317.33 | 1.04 M oz | 16.91 K t | 46.04 K t | 0 | 0 | 100% |
PP%: percentage of metal value from Proven + Probable reserves
MI%: percentage of metal value from Measured + Indicated resources
I%: percentage of metal value from Inferred resources
Note: percentages may no add to 100% due to rounding errors
The 100%-owned Greens Creek silver, gold, lead, and zinc underground mining operation is located in Southeast Alaska. Since 2008, when the company acquired Rio Tinto's remaining 70% interest in the operation, Hecla nearly doubled its silver reserves and metals production. In the first quarter of 2011, Greens Creek produced 1.7 million ounces of silver with an average ore grade of 12.5 ounces of silver per ton. Greens Creek is one of the world's largest high-grade, low-cost silver mines, with more than 200 million ounces produced in the last 20 years. [Source: Investor Fact Sheet, May 2011]
Latest NI43-101 Report:
( pages).
Updates: Production and Reserves webpage (viewed May 2011).
Project Location: Alaska, USA.
Average Ore Value (all estimate types): US$673.23
Probable
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $3.93 | 758.37 K oz | 3.154 g/t | 7.48 M t |
| Silver | $9.21 | 99.74 M oz | 414.857 g/t | 7.48 M t |
| Lead | $1.66 | 261.73 K t | 35,000.000 g/t | 7.48 M t |
| Zinc | $4.34 | 695.46 K t | 93,000.000 g/t | 7.48 M t |
Estimate notes:
Indicated
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $0.26 | 49.76 K oz | 2.160 g/t | 716.49 K t |
| Silver | $0.30 | 3.24 M oz | 140.571 g/t | 716.49 K t |
| Lead | $0.09 | 14.33 K t | 20,000.000 g/t | 716.49 K t |
| Zinc | $0.21 | 32.96 K t | 46,000.000 g/t | 716.49 K t |
Estimate notes:
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $0.22 | 43.43 K oz | 0.343 g/t | 3.94 M t |
| Silver | $4.73 | 51.25 M oz | 404.571 g/t | 3.94 M t |
| Lead | $0.55 | 86.68 K t | 22,000.000 g/t | 3.94 M t |
| Zinc | $1.38 | 220.65 K t | 56,000.000 g/t | 3.94 M t |
Estimate notes:
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. Over the past 69 years, 147 million ounces of silver have been mined. Construction of the #4 Shaft project continues with the hoist room equipment installation and completion of detailed engineering and its components in the second quarter 2011. Completion of the #4 Shaft project is expected in H2/2014 with potential to increase production by 60% to 5 million ounces of silver annually. [Source: Investor Fact Sheet, May 2011]
Latest NI43-101 Report:
( pages).
Updates: Production and Reserves webpage (viewed May 2011).
Project Location: Idaho, USA.
Average Ore Value (all estimate types): US$400.23
Proven
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Silver | $1.88 | 20.36 M oz | 425.143 g/t | 1.49 M t |
| Lead | $0.74 | 116.20 K t | 78,000.000 g/t | 1.49 M t |
| Zinc | $0.26 | 41.71 K t | 28,000.000 g/t | 1.49 M t |
Estimate notes:
Probable
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Silver | $2.03 | 21.94 M oz | 486.857 g/t | 1.40 M t |
| Lead | $0.79 | 124.75 K t | 89,000.000 g/t | 1.40 M t |
| Zinc | $0.26 | 42.05 K t | 30,000.000 g/t | 1.40 M t |
Estimate notes:
Measured + Indicated
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Silver | $9.27 | 100.41 M oz | 229.714 g/t | 13.60 M t |
| Lead | $3.71 | 584.63 K t | 43,000.000 g/t | 13.60 M t |
| Zinc | $1.70 | 271.92 K t | 20,000.000 g/t | 13.60 M t |
Estimate notes:
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Silver | $5.23 | 56.63 M oz | 336.000 g/t | 5.24 M t |
| Lead | $2.06 | 325.00 K t | 62,000.000 g/t | 5.24 M t |
| Zinc | $0.69 | 110.08 K t | 21,000.000 g/t | 5.24 M t |
Estimate notes:
[Source: Production and Reserves webpage (viewed May 2011)]
Latest NI43-101 Report:
( pages).
Updates: Production and Reserves webpage (viewed May 2011).
Project Location: Idaho, USA.
Average Ore Value (all estimate types): US$317.33
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Silver | $0.10 | 1.04 M oz | 68.571 g/t | 469.83 K t |
| Lead | $0.11 | 16.91 K t | 36,000.000 g/t | 469.83 K t |
| Zinc | $0.29 | 46.04 K t | 98,000.000 g/t | 469.83 K t |
Estimate notes:
In 2008, Hecla acquired the right to earn into a 70% joint-venture interest in a roughly 23-square-mile consolidated land package in one of Colorado's most prolific silver-producing districts. The exploration property has an identified resource of approximately 26 million ounces of silver, with potential for more resources through a targeted exploration program. A scoping study is under way to look at potentially reopening the Bulldog mine. [Source: Investor Fact Sheet, May 2011]
Latest NI43-101 Report:
( pages).
Updates: Production and Reserves webpage (viewed May 2011).
Project Location: Colorado, USA.
Average Ore Value (all estimate types): US$428.64
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Silver | $2.40 | 25.98 M oz | 411.429 g/t | 2.81 M t |
| Lead | $0.21 | 33.39 K t | 17,000.000 g/t | 2.81 M t |
| Zinc | $0.16 | 25.53 K t | 13,000.000 g/t | 2.81 M t |
Estimate notes:
Resource quantities adjusted for ownership percentage of 70.0%.
The San Sebastian mine is located approximately 56 miles northeast of the city of Durango, Mexico. Hecla is engaged in an exploration program on this 300-square-mile property, which is on trend with major mines and deposits in central Mexico. A scoping study is underway to look at potentially re-opening the Hugh zone. [Source: Investor Fact Sheet, May 2011]
Latest NI43-101 Report:
( pages).
Updates: Production and Reserves webpage (viewed May 2011).
Project Location: Durango, Mexico.
Average Ore Value (all estimate types): US$386.91
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Silver | $0.84 | 9.14 M oz | 274.286 g/t | 1.04 M t |
| Lead | $0.19 | 30.06 K t | 29,000.000 g/t | 1.04 M t |
| Zinc | $0.28 | 45.60 K t | 44,000.000 g/t | 1.04 M t |
Estimate notes: