Hecla Mining Q3 Silver Production Up 31% YoY; Gold Production Up 6%

(RTTNews) - Hecla Mining Co. (HL) reported Monday that silver production for the third quarter increased 31 percent to 3.29 million ounces from 2.52 million ounces in the year-ago quarter.

Gold production for the quarter also grew 6 percent to 77,331 ounces from 72,995 ounces in the prior-year quarter.

Lead production rose 47 percent to 6,226 tons and zinc production grew 22 percent to 15,589 tons from last year.

Silver equivalent production was 12.6 million ounces or gold equivalent production was 145,536 ounces for the quarter.

The company reported that cash and cash equivalents was about $33 million, a $24 million increase over June 30, 2019, with outstanding debt slightly lower.

"We knew that dialing back our expenditures while achieving our expected production and sales targets would increase our cash flow generation. We expect more of the same in the fourth quarter," said Phillips Baker, Jr., President and CEO.