Hecla Mining reports 7% silver production increase in Q1 2021
(Kitco News) - Hecla Mining Company (NYSE:HL) today announced that the company produced 3.5 million ounces of silver in Q1 2021, an increase of 7% over Q1 2020, due to growing Lucky Friday production.
The company's gold production was 52,004 ounces in Q1 2021, a decrease of 12% compared to Q1 2020, because of reducing less profitable production. Zinc and lead production increased 25% and 82%, respectively, due to Lucky Friday production.
"Greens Creek, Lucky Friday and Casa Berardi all had strong operating performance which combined with current silver prices enabled us to close the quarter with more than $135 million in cash," said Hecla's President and CEO, Phillips S. Baker, Jr. "This is our fourth consecutive quarter of increasing cash balances, all attributable to free cash flow generation."
Founded in 1891, Hecla Mining is the largest silver producer in the United States with operating mines in Alaska and Idaho and is a growing gold producer with an operating mine in Quebec. The company also has exploration and pre-development properties in eight world-class silver and gold mining districts in the U.S., Canada, and Mexico.