Hecla CEO: 2Q Mine Output Tops Guidance
Hecla Mining Co.’s (NYSE: HL) chief executive says the company’s mine output toppedits expectations during the second quarter. Hecla reports silverproduction of 2.6 million ounces, down slightly from 2.8 million in the sameperiod a year ago. Gold production rose to 60,313 ounces from 52,561. Heclaalso mines some base metals as a by-product. Silver-equivalent productiontotaled 10.5 million ounces. “Hecla’s second-quartermine production exceeded expectations due to continued improvements in themines,” says Phillips S. Baker, Jr., president and chief executive officer.“Greens Creek had higher-than-expected grades and had about 5% of the tonscoming from automated headings. Casa Berardi exceeded expectations due tohigher grades and the flexibility of having sources of ore from the undergroundand the surface. San Sebastian production, while lower than last year, washigher than we expected due to higher grades.” As a result, the CEO adds,Hecla’s cash position is “the second highest in the past six years,” which thecompany plans to deploy to complete the previously announced acquisition ofKlondex Mines Ltd. The Lucky Friday Mine in Idaho remains mostly shut down by astrike, with just 24,686 ounces mined during the April-June period.
By Allen Sykoraof Kitco News; asykora@kitco.com
SSR Mining 2Q Output Higher Than 1Q At Two Mines
Friday July 13, 2018 08:38
SSR MiningInc. (NASDAQ, TSX: SSRM) reports higher production in the second quarter than in the first at two of itsthree mines. At Marigold, the company produced 49,436 ounces of gold, anincrease of 15% from the first quarter. Seabee turned out 23,582 ounces ofgold, comparable to 23,717 in the first quarter. The Puna operations churnedout 954,000 million ounces of silver, up 1.7% from the first quarter. Puna’sfirst-half total of 1.9 million ounces of silver exceeded guidance, the companyadds. “Solid performance at each of our operations in the second quarter keepsus well on track for full-year production guidance,” says Paul Benson,president and chief executive officer.
By Allen SykoraFor Kitco News
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