RE:RE:Mining Weekly - Hecla updates 2023 silver guidance
No heads up required, Q3 and the current share price over the week speaks for itself. Hecla's possibly great, long term, for insiders and is also a large employer.
But for the type of speculators that were attracted by Alexco to KH and the thoughts of instant rags to riches they were for the most part sadly mistaken. Alexco changed overnight from we're doing great to "we have a problem".
Currently KH is going to be interesting as to costs vs recovery moving forward. I suspect HL is getting a close and personal look at conditions which is the reason for safety reviews, shotcrete, crusher, etc.
Historically this is an area of small timbered reinforced mining, Historically this area is unstable, therefore small timbered drifts and shafts. Get in, blast, muck, timber and get out.
Alexco was amazing at drilling holes and great at promoting the suspected reserves, but I don't remember to much proven. That said I wish HL KH every success but I am also of the opinion that a lot more cash and resources will be required (along with lower production costs and increased silver price) to make HL KH a repeat success story. I don't know enough of HL managment to say how much they are willing to invest.
KH is a challenging area to mine and has only ever been viable when there were periods of relatively high silver prices with no disruptions.
BTW the Yahoo conversations board is also a great resource for opinions.