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Hecla Mining Co HL.PR.B


Primary Symbol: HL

Hecla Mining Company discovers, acquires and develops mines and other mineral interests and produces and market concentrates containing silver, gold and other metals, carbon material containing silver and gold, and unrefined dore containing silver and gold. Its segments include Greens Creek, Lucky Friday, Keno Hill, Casa Berardi and Nevada Operations. The Company produces zinc, silver and precious metals flotation concentrates at Greens Creek and silver and zinc flotation concentrates at Lucky Friday. At Greens Creek, it also produces gravity concentrate containing payable silver, gold and lead. It also produces unrefined gold and silver bullion bars (dore) and loaded carbon and precipitates at Casa Berardi, which are shipped to refiners before sale of the metals to precious metal traders. Keno Hill is located in the Keno Hill Silver District in Canada's Yukon Territory. Nevada Operations consists of four land packages in northern Nevada totaling approximately 110 square miles.


NYSE:HL - Post by User

Post by HuskySWon Jun 01, 2024 11:37am
156 Views
Post# 36067532

Got spanked with a fine, it could have been worse.

Got spanked with a fine, it could have been worse."Yukon-based subsidiary has been hit with a C$100,000 fine for overlooking certain environmental risks at its large silver mine situated 350 km north of Whitehorse, according reports by CBC News.

The unit, Alexco Keno Hill Mining, pled guilty to failing to store hazardous waste properly and meet certain water quality standards on Wednesday. Alexco operates the Keno Hill mine, which Hecla acquired in 2022 and is expected to produce 2.7-3.0 million oz. of silver this year."

Hecla needs to fix  and keep this stuff fixed.   Storage of a some copper sulfate, etc is one thing, water discharge is another (water license). 

BTW, under Alexco (AXU) the original  mandated intent was to do a complete and final cleanup with remediation and ground cover, from what I remember this mandate got changed into remediation into perpituity.  It is apparent tht YTG is getting more and more sensitized to pollution, remediation on  current mines (and there are some major ones) is one thing addtional pollution is another.  That said even Victoria got slapped recently along with some others.   There are still major abandoned onging mine remediation projects, some mid (old KH workings in there) and a smattering of smaller ones. 

There is no reason why a company that has operated for 100+ yo should not be returning more value, maybe there is some issue?  For example 3m oz py was not unusual,  UKHM was producing way more than that in the 50's....80's.  . Run avg. price of silver over net realized for the period, a lot of things may make more sense... ;)

Point is imo, which is why I don't seriously look at the junior plays, they exist to poke holes, keep people working and raise cash (yours), CAM comes to mind lol. That's all good, no issue here every twenty years or so one out one hundred juniors may develop into a large mine. ;)

IMO Hecla needs to concentrate on what the have, look to reduce cost, keep people emplyed and that doesn't mean just hauling more to surface, eventually the economy of scale doesn't work.  Or maybe the management and board just want to cruise along untill they run out of gas?


https://www.mining.com/heclas-yukon-unit-fined-c100000-for-environmental-risks/

https://www.cbc.ca/news/canada/north/yukon-keno-hill-mine-alexco-1.7218635

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