RE:Hecla bondsThanks, yes, I see the bonds now, but not on my Canadian account which allows only limited visibility and trading of US bonds. Moody's has them rated still in the junk territory (B1, highly spec), up from Caa1 (substantial risk) in 2020. Seems a little pessimistic to me. As to the bond debt, they'd probably roll it over again but it would be nice to get rid of at least some of it to save some of the $40MM a year in interest. If the share price is high enough do a share offering if the market allows. The cost of dividends would be peanuts compared to the 7 3/4% interest (and that percent was offered in a near- zero percent market!). Who knows what the interest would have to be in 2028.
Hecla's been around for 130 years, so that's a plus, and the properties look pretty good. Keno Hill is supposed to start in a few months and with their experience in 'narrow width mining' (which we hadn't heard about before from AXU), Hecla should be able to run it if anybody can.
AXU never officially published Reserves, only Resources, and the Canadian rules are different than the US, but in their promo Hecla claims Reserves of 50MM oz with total Resources totalling something like 100MM or more oz of Ag (plus the Pb and Zn). Maybe they can use the term 'Reserves' using US rules.