Hecla CEO: 2Q Mine Output Tops Guidance
Hecla Mining Co.’s (NYSE: HL) chief executive says the company’s mine output topped its expectations during the second quarter. Hecla reports silver production of 2.6 million ounces, down slightly from 2.8 million in the same period a year ago. Gold production rose to 60,313 ounces from 52,561. Hecla also mines some base metals as a by-product. Silver-equivalent production totaled 10.5 million ounces. “Hecla’s second-quarter mine production exceeded expectations due to continued improvements in the mines,” says Phillips S. Baker, Jr., president and chief executive officer. “Greens Creek had higher-than-expected grades and had about 5% of the tons coming from automated headings. Casa Berardi exceeded expectations due to higher grades and the flexibility of having sources of ore from the underground and the surface. San Sebastian production, while lower than last year, was higher than we expected due to higher grades.” As a result, the CEO adds, Hecla’s cash position is “the second highest in the past six years,” which the company plans to deploy to complete the previously announced acquisition of Klondex Mines Ltd. The Lucky Friday Mine in Idaho remains mostly shut down by a strike, with just 24,686 ounces mined during the April-June period.
By Allen Sykora of Kitco News; email@example.com
SSR Mining 2Q Output Higher Than 1Q At Two Mines
Friday July 13, 2018 08:38
SSR Mining Inc. (NASDAQ, TSX: SSRM) reports higher production in the second quarter than in the first at two of its three mines. At Marigold, the company produced 49,436 ounces of gold, an increase of 15% from the first quarter. Seabee turned out 23,582 ounces of gold, comparable to 23,717 in the first quarter. The Puna operations churned out 954,000 million ounces of silver, up 1.7% from the first quarter. Puna’s first-half total of 1.9 million ounces of silver exceeded guidance, the company adds. “Solid performance at each of our operations in the second quarter keeps us well on track for full-year production guidance,” says Paul Benson, president and chief executive officer.