Hecla Mining Company (NYSE:HL)
is pleased to announce the Company has fulfilled the Coeur d’Alene Basin
Environmental Settlement’s financial obligations. The final payment of
$41.3 million was made today from the exercise of the remaining
outstanding warrants.
“We are pleased to put this litigation completely behind us. With this
final payment, we can continue our focus on growing the Company’s
production and cash flow,” said Hecla’s President and Chief Executive
Officer, Phillips S. Baker, Jr. “Our operations are expected to generate
enough cash flow to meet all planned capital, pre-development, and
exploration requirements for 2014. So our strong balance sheet with over
$200 million in cash and cash equivalents and a revolving credit
facility of $100 million is largely available to pursue other
value-generating initiatives for our shareholders.”
About Hecla
Hecla Mining Company (NYSE:HL) is a leading low-cost U.S. silver
producer with operating mines in Alaska and Idaho, and is a growing gold
producer with an operating mine in Quebec, Canada. The Company also has
exploration and pre-development properties in five world-class silver
and gold mining districts in the U.S., Canada, and Mexico, and an
exploration office and investments in early-stage silver exploration
projects in Canada.
Cautionary Note Regarding Forward-Looking Statements
Statements made or information provided in this news release that are
not historical facts, such as anticipated payments, litigation outcome
(including settlement negotiations), production, sales of assets,
exploration results and plans, costs, and prices or sales performance
are "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 and "forward-looking
information" within the meaning of Canadian securities laws. Words such
as “may,” “will,” “should,” “expects,” “intends,” “projects,”
“believes,” “estimates,” “targets,” “anticipates” and similar
expressions are used to identify these forward-looking statements.
Forward-looking statements involve a number of risks and uncertainties
that could cause actual results to differ materially from those
projected, anticipated, expected or implied. These risks and
uncertainties include, but are not limited to, metals price volatility,
volatility of metals production and costs, litigation, regulatory and
environmental risks, operating risks, project development risks,
political risks, labor issues, ability to raise financing and
exploration risks and results. Refer to the company's Form 10-K and 10-Q
reports for a more detailed discussion of factors that may impact
expected future results. The company undertakes no obligation and has no
intention of updating forward-looking statements other than as may be
required by law.
Copyright Business Wire 2014