When It Comes To This, Miners Have It All Wrong - Hecla CEO
After posting record production in the company’s 125-year history, Hecla Mining is setting its eyes on mining more silver. Speaking with Kitco News at the BMO conference, CEO Phil Baker said he will continue to follow the strategy that has been working for the company. ‘Our cost structure is so low…That means we’re going to make very good margins regardless of where the prices are,’ he said. However, Baker warned that the industry as a whole may be in trouble because companies are not hedging properly again price volatility. ‘The dangers are when you don’t create margin and an example if you look at people’s price assumptions for the calculation of reserves,’ he explained. ‘They’re pricing it at spot today…and that’s troubling because what ends up happening is prices are going to be volatile and you’re going to lose value.’ (show less)
After posting record production in the company’s 125-year history, Hecla Mining is setting its eyes on mining more silver. Speaking with Kitco News at the BMO conference, CEO Phil Baker said he will continue to follow the strategy that has been working for the company. ‘Our cost structure is so low…That means we’re going to make very good margins regardless of where the prices are,’ he said. However, Baker warned that the industry as a whole may be in trouble ... (read more)
BMO Conference 2017
For 26 years, BMO Capital Markets has hosted its annual Global Metals & Mining Conference dedicated entirely to the metals & mining sector. This year is no different. From Feb. 26 to Mar. 1, institutional investors from around the globe as well as senior management from the world's leading mining companies will meet at this invite-only event. Kitco News’ Daniela Cambone will be on the front lines, interviewing some of the biggest names in our industry. Don’t miss Kitco News' exclusive coverage, brought to you by Pershing Gold.Disclaimer: The content on this website, including, without limitation, news, videos, interviews and commentaries, is provided by Kitco Metals Inc. ("Kitco") for informational purposes only and is not intended as any form of advice, whether legal, accounting, investment, financial or tax advice. Therefore, it cannot be relied upon as such. Should you require such advice, contact a licensed professional. The content provided herein is provided on an "as is" basis without any warranty of any kind, whether express or implied and your use of the information provided in said content is entirely at your own risk. In no event will Kitco be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content on this website.
