CEO Phillips Baker of Hecla Mining Company (HL) says his company is experiencing real tailwinds with successes at three of its mines, and that the outlook for said mines is extraordinary as they continue to produce great cash flows while growing and adding reserves and resources.
“At the Lucky Friday, we’re continuing to develop this shaft that will change that mine in the long term. Because the grade increases as we go deeper at that mine, Lucky Friday will go from being a 3-million-ounce silver producer to a 5-million-ounce producer. This deeper, higher-grade production is a huge improvement, turning a good mine into a very good mine,” Baker said.
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Hecla Mining is also seeing great results at other places, Baker says, such as Greens Creek and Casa Berardi.
“Over the last three years — and I’ve been with the company for 13 years now and watching Greens Creek closely for that time — we have actually had our best drill results I have seen. And so the outlook for that mine and the likelihood of further increases in the resource and the reserve base is quite high,” Baker said.
“Finally, at Casa Berardi, we’re seeing the strong exploration success that we expected when we made the acquisition…It is a very, very exciting place to be operating and to be exploring,” Baker added.
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