The document provides an update on Hecla Mining Company from March 2015. It highlights Hecla's financial strength and upside potential from its quality assets. Some key points include record revenue, production, and reserves in 2014. It also outlines Hecla's expectations for 2015, including silver and gold production and cash costs by mine. The document emphasizes factors that differentiate Hecla, such as its high-grade mines, strong cash flow generation, and low-risk jurisdiction. It provides details on the historical performance of Hecla's flagship Greens Creek mine.
BOA/ML Global Metals, Mining & Steel Conferenceq4help
Goldcorp's presentation discusses the company's strategy of building on past successes to continue growth. It highlights key projects and mines such as Cerro Negro and Éléonore that are expected to be new drivers of growth. The presentation also emphasizes Goldcorp's commitment to financial discipline, cost control, and capital allocation to create long-term shareholder value.
Raymond James 35th Annual Institutional Investors ConferenceAgnico Eagle Mines
Raymond James 35th Annual Institutional Investors Conference presentation by Agnico Eagle Mines President and CEO Sean Boyd:
1) Agnico Eagle reported record annual gold production in 2013 of 1.1 million ounces at a total cash cost of $672 per ounce, lower than guidance.
2) Production is forecast to grow moderately through 2016 to 1.25 million ounces annually, from assets located in mining-friendly jurisdictions.
3) Capital spending is projected to remain below $1 billion annually through 2014-2016 to fund production growth from existing operations.
Osisko reported strong financial results for Q2 2017, earning a record number of gold equivalent ounces. Revenues and gold production increased year-over-year. Subsequent to Q2, Osisko acquired additional royalty interests and common shares to increase its holdings. Osisko also increased its quarterly dividend for the first time. The transaction to acquire royalty assets from Orion was closed in July, significantly enhancing Osisko's portfolio of producing and development assets.
The document provides an overview of Detour Gold Corporation's fourth quarter and full year 2016 operating results and 2017 guidance. It includes forward-looking statements regarding future production, costs, and financial metrics. It notes key assumptions for 2017 including a gold price of $1,200/oz, CAD/USD exchange rate of 1.30, diesel fuel price of C$0.70/L, and power cost of C$0.30/kWhr. The document also defines the company's use of non-IFRS measures like total cash costs and all-in sustaining costs to provide additional performance metrics.
The document provides an overview of Agnico Eagle Mines Limited's fourth quarter and full year 2013 results. Some key points:
- Record annual gold production of 1.10 million ounces, exceeding guidance of 1.06 million ounces. Total cash costs were $672 per ounce, below guidance of $690.
- Commercial production was declared at the Goldex mine and commissioning is on track at La India.
- A non-cash impairment charge of $436 million was recorded due to the lower gold price environment. The quarterly dividend was also reduced.
- Production is expected to grow moderately through 2016 according to estimates. Capital expenditures are projected to remain at manageable levels.
- Pro
Agnico Eagle plans to acquire Cayden Resources, an exploration company with properties in Mexico, for approximately C$205 million. The key asset being acquired is the El Barqueño property in Jalisco State, which has shown potential for multiple gold deposits along an 8km strike length based on drilling to date. Agnico Eagle expects to begin a C$10-15 million exploration program at El Barqueño in 2015 with the goal of outlining a maiden resource. The acquisition is expected to enhance Agnico Eagle's growth in Mexico and provide an opportunity to establish a new operating base.
This corporate presentation provides an overview of Detour Gold Corporation as Canada's next intermediate gold producer. Detour Gold's key asset is the Detour Lake Mine in Ontario, which has proven and probable reserves of 15.6 million ounces of gold. The presentation outlines Detour Gold's objectives to deliver strong operational performance at Detour Lake, generate positive cash flows, and use cash flows to fund future growth. Detour Gold has made solid progress in 2013 by achieving its first gold pour in February, reaching commercial production at Detour Lake in August, and producing over 150,000 ounces of gold in the first nine months of the year.
The document provides an overview of Seabridge Gold Corporation and its key project, the KSM gold and copper mine in British Columbia, Canada. It summarizes that KSM is one of the largest undeveloped gold and copper reserves in the world, located in a mining-friendly jurisdiction with favorable logistics. A preliminary feasibility study outlines a large, long-life mine plan with strong economics. Seabridge has also earned social acceptance through agreements with local First Nations and support for employment and training. Recent drilling has discovered the Deep Kerr zone below the main deposit, containing over 2.5 times the average KSM copper grade.
BOA/ML Global Metals, Mining & Steel Conferenceq4help
Goldcorp's presentation discusses the company's strategy of building on past successes to continue growth. It highlights key projects and mines such as Cerro Negro and Éléonore that are expected to be new drivers of growth. The presentation also emphasizes Goldcorp's commitment to financial discipline, cost control, and capital allocation to create long-term shareholder value.
Raymond James 35th Annual Institutional Investors ConferenceAgnico Eagle Mines
Raymond James 35th Annual Institutional Investors Conference presentation by Agnico Eagle Mines President and CEO Sean Boyd:
1) Agnico Eagle reported record annual gold production in 2013 of 1.1 million ounces at a total cash cost of $672 per ounce, lower than guidance.
2) Production is forecast to grow moderately through 2016 to 1.25 million ounces annually, from assets located in mining-friendly jurisdictions.
3) Capital spending is projected to remain below $1 billion annually through 2014-2016 to fund production growth from existing operations.
Osisko reported strong financial results for Q2 2017, earning a record number of gold equivalent ounces. Revenues and gold production increased year-over-year. Subsequent to Q2, Osisko acquired additional royalty interests and common shares to increase its holdings. Osisko also increased its quarterly dividend for the first time. The transaction to acquire royalty assets from Orion was closed in July, significantly enhancing Osisko's portfolio of producing and development assets.
The document provides an overview of Detour Gold Corporation's fourth quarter and full year 2016 operating results and 2017 guidance. It includes forward-looking statements regarding future production, costs, and financial metrics. It notes key assumptions for 2017 including a gold price of $1,200/oz, CAD/USD exchange rate of 1.30, diesel fuel price of C$0.70/L, and power cost of C$0.30/kWhr. The document also defines the company's use of non-IFRS measures like total cash costs and all-in sustaining costs to provide additional performance metrics.
The document provides an overview of Agnico Eagle Mines Limited's fourth quarter and full year 2013 results. Some key points:
- Record annual gold production of 1.10 million ounces, exceeding guidance of 1.06 million ounces. Total cash costs were $672 per ounce, below guidance of $690.
- Commercial production was declared at the Goldex mine and commissioning is on track at La India.
- A non-cash impairment charge of $436 million was recorded due to the lower gold price environment. The quarterly dividend was also reduced.
- Production is expected to grow moderately through 2016 according to estimates. Capital expenditures are projected to remain at manageable levels.
- Pro
Agnico Eagle plans to acquire Cayden Resources, an exploration company with properties in Mexico, for approximately C$205 million. The key asset being acquired is the El Barqueño property in Jalisco State, which has shown potential for multiple gold deposits along an 8km strike length based on drilling to date. Agnico Eagle expects to begin a C$10-15 million exploration program at El Barqueño in 2015 with the goal of outlining a maiden resource. The acquisition is expected to enhance Agnico Eagle's growth in Mexico and provide an opportunity to establish a new operating base.
This corporate presentation provides an overview of Detour Gold Corporation as Canada's next intermediate gold producer. Detour Gold's key asset is the Detour Lake Mine in Ontario, which has proven and probable reserves of 15.6 million ounces of gold. The presentation outlines Detour Gold's objectives to deliver strong operational performance at Detour Lake, generate positive cash flows, and use cash flows to fund future growth. Detour Gold has made solid progress in 2013 by achieving its first gold pour in February, reaching commercial production at Detour Lake in August, and producing over 150,000 ounces of gold in the first nine months of the year.
The document provides an overview of Seabridge Gold Corporation and its key project, the KSM gold and copper mine in British Columbia, Canada. It summarizes that KSM is one of the largest undeveloped gold and copper reserves in the world, located in a mining-friendly jurisdiction with favorable logistics. A preliminary feasibility study outlines a large, long-life mine plan with strong economics. Seabridge has also earned social acceptance through agreements with local First Nations and support for employment and training. Recent drilling has discovered the Deep Kerr zone below the main deposit, containing over 2.5 times the average KSM copper grade.
- The document is a presentation from Agnico Eagle Mines Limited given at a Scotia BBQ on August 18, 2016.
- It discusses Agnico Eagle's forward-looking statements and production guidance, provides an overview of the company's strong financial position and long history of dividend payments, and outlines its growth strategy through projects in its development pipeline.
- Agnico Eagle has successfully grown production and reserves through acquisitions and exploration over the past decade and expects its project pipeline to drive a new phase of 30-40% production growth by 2020.
- The corporate presentation provides an overview of New Gold Inc., including highlights of its portfolio of mining assets located in top-rated jurisdictions, its investment thesis, and forward-looking production and cost guidance.
- New Gold has a portfolio of assets in Canada, the United States, and Mexico, including the Rainy River and Blackwater projects which have the potential to add over 300koz to annual gold production.
- Key aspects of New Gold's investment thesis are its majority of gold reserves located in Canada, low-cost production profile, and a peer-leading growth pipeline including the fully-funded Rainy River project.
Royal Gold reported strong financial results for its fiscal second quarter of 2017. Revenue increased 9% compared to the prior year quarter to $107 million, driven by higher gold prices and steady production across its portfolio. Operating cash flow grew 34% year-over-year. Production is expected to increase in the coming quarters from new contributions from Rainy River, which is estimated to begin production in September 2017, and from an amended gold-copper stream at Mount Milligan. Royal Gold has no additional funding requirements and $420 million in available liquidity as of December 31, 2016.
Corporate presentation september 2016 v finalnewgold2011
- The document is a corporate presentation from New Gold that outlines cautionary statements regarding forward-looking information.
- It notes that statements in the presentation that address events, results, outcomes or developments that New Gold expects to occur are forward-looking statements which are based on certain assumptions and are subject to risks and uncertainties.
- It lists numerous risks and uncertainties that could cause actual results to differ materially from expectations, including risks related to prices, currency fluctuations, estimates, permitting, political and legal factors, and other operational risks.
The document provides an agenda for an Investor Day presentation on February 18, 2016. The presentation agenda includes an overview of the gold market, a company update, an overview of New Gold, operational results and outlook for 2015 and 2016, mineral reserve updates, development of the Rainy River project, 2015 financial results, and a conclusion. The document also includes cautionary statements regarding forward-looking statements and information contained in the presentation.
- Detour Gold is a Canadian gold mining company and intermediate gold producer.
- In 2016, Detour Gold expects to produce between 540,000-590,000 ounces of gold at total cash costs between $675-750 per ounce sold and all-in sustaining costs between $840-940 per ounce sold.
- In Q1 2016, Detour Gold produced 127,136 ounces of gold and sold 137,608 ounces at total cash costs of $637 per ounce sold and all-in sustaining costs of $824 per ounce sold.
- The document is a corporate presentation from New Gold that contains forward-looking statements and cautionary language regarding those statements.
- It discusses New Gold's portfolio of assets in top-rated jurisdictions including Canada, the US, Mexico, and Australia.
- The presentation provides highlights from 2015 including record gold production that exceeded guidance and lower than planned costs. It also outlines New Gold's growth pipeline and 2016 guidance.
Agnico Eagle reported strong results for the second quarter of 2016, including:
- Gold production of 408,932 ounces at total cash costs of $592 per ounce
- Increased 2016 production guidance to 1.58-1.6 million ounces at lower costs
- Repaid $210 million credit facility balance and $20 million loan, reducing net debt to $742 million
- Declared a 25% increased quarterly dividend to $0.10 per share
- Royal Gold reported record revenue and volume in Q2 FY2016, driven by contributions from new stream agreements including Pueblo Viejo.
- Production from key assets like Pueblo Viejo, Mount Milligan, and Wassa/Prestea met or exceeded expectations in 2015.
- The company is well positioned for growth with new streams from Rainy River and existing liquidity to fund commitments, while trading at compelling valuation levels not seen since the financial crisis.
Agnico Eagle reported record annual gold production in 2014 of 1.429 million ounces at total cash costs of $637 per ounce. For the fourth quarter of 2014, gold production was 387,538 ounces at total cash costs of $662 per ounce. Agnico Eagle expects gold production to increase to approximately 1.6 million ounces in 2015 at total cash costs of $610 to $630 per ounce, and all-in sustaining costs of $880 to $900 per ounce. Agnico Eagle also provided three-year production guidance for 2015 to 2017, with expected average annual gold production of approximately 1.6 million ounces.
Bank of America Merrill Lynch 2016 Global Metals, Mining EventAgnico Eagle Mines
This document provides an overview of Agnico Eagle Mines Limited's presentation at the 22nd Annual Canada Mining Event hosted by Bank of America Merrill Lynch in September 2016. It contains forward-looking statements about Agnico Eagle's production guidance, costs, projects and growth plans. It also notes the risks associated with forward-looking statements and provides details on Agnico Eagle's non-GAAP financial measures and production guidance methodology. Finally, it highlights Agnico Eagle's strategy of value creation through consistent performance, production growth, high-quality reserves, exploration success and financial strength.
- Agnico Eagle and Yamana Gold jointly acquired Osisko Mining Corporation on June 16, 2014 to form the Canadian Malartic General Partnership.
- Production guidance for 2014 was increased to 1.35-1.37 million ounces of gold with total cash costs forecasted between $650-675 per ounce.
- Exploration drilling at the IVR discovery near Meadowbank continues to expand the mineralization, with four mineralized zones now outlined and mineralization remaining open in all directions.
- Agnico Eagle reported its third quarter 2015 results on October 29, 2015.
- The document discusses forward-looking statements regarding production guidance, costs, and expansion projects and contains risks and assumptions.
- It also notes that certain measures used are non-GAAP measures and provides reconciliations to IFRS, and that production guidance is based on reserves but includes contingencies and different price assumptions than reserves.
Agnico Eagle reported its first quarter 2016 results on April 29, 2016. The document provides forward-looking statements regarding Agnico Eagle's expectations for production, costs, capital expenditures, and other estimates. It notes that actual results may differ materially from expectations due to risks and uncertainties in the business. The document also explains non-GAAP measures used to evaluate performance such as total cash costs per ounce and all-in sustaining costs per ounce.
The Nunavut Experience Mining and Exploring North of 60Agnico Eagle Mines
The document discusses permitting for mining and exploration projects in Nunavut, Canada. It notes that [1] Inuit organizations own subsurface and surface rights to portions of the land in Nunavut. [2] Key Inuit organizations that must be engaged with for agreements include Nunavut Tungavik Incorporated and regional Inuit organizations. [3] Permitting for exploration projects in Nunavut involves engaging with both Inuit organizations and various federal and territorial government bodies.
The document cautions readers that certain information in the presentation regarding New Gold's future performance are forward-looking statements that are based on estimates and assumptions that are subject to risks and uncertainties. It provides context for forward-looking production, cost, and capital expenditure guidance. The document also lists key assumptions underlying the forward-looking statements and outlines risk factors that could materially affect actual results.
The document contains forward-looking statements regarding Yamana Gold's plans and objectives. It discusses Yamana's strategy to advance, develop, and build on its Canadian property pipeline in a strategic manner. It also notes Yamana's goal to integrate exploration and technical services to enhance shareholder value.
New gold presentation march 2017 v websitenewgold2011
The corporate presentation provides an overview of New Gold Inc., including:
- New Gold has a portfolio of assets in top-rated mining jurisdictions like Canada, the USA, Australia and Mexico.
- Their key growth project is the Rainy River mine in Ontario, Canada, which is expected to have an initial 14-year mine life upon achieving commercial production in late 2017.
- New Gold's priorities for 2017 include strengthening their team at Rainy River to ensure successful execution of the project, as well as pursuing opportunities to further optimize cash flow from their operating mines.
- The document is a corporate presentation from May 2016 that contains cautionary statements about forward-looking information.
- It warns that statements regarding future financial performance, projects, activities, and expectations are forward-looking and subject to risks and uncertainties that could cause actual results to differ materially.
- The presentation outlines numerous risk factors that could affect the company's projections including economic, geological, permitting, environmental, social, regulatory, political, and financial risks.
Agnico Eagle Mines reported first quarter 2013 results with gold production of 236,975 ounces at a total cash cost of $740 per ounce. Cash flow from operations was $146 million. Production and costs were in line with expectations. The company's Goldex and La India projects remain ahead of schedule with initial production expected in Q4 2013 and commissioning beginning late Q4 2013 respectively. Kittila's scheduled mill maintenance was extended resulting in reduced 2013 production estimates.
Equinox Gold Q2 Results and Corporate Update August 4 2021Equinox Gold Corp.
Equinox Gold provided an operational and financial update for Q2 2021. Key highlights included:
- Producing 122,656 ounces of gold and selling 124,712 ounces at an average realized price of $1,806 per ounce.
- Mine cash costs of $1,089 per ounce and AISC of $1,382 per ounce for the quarter.
- Net income of $325.7 million or $1.10 per share, and adjusted EBITDA of $52.4 million.
- Cash and equivalents of $333.9 million and net debt of $215.6 million at the end of June.
The company also provided an updated 2021 production and
Equinox Gold is a gold mining company with 7 producing mines and 2 growth projects. In 2022, it expects to produce 670,000 ounces of gold at an all-in sustaining cost of $1,330-$1,410 per ounce. Key assets include the Los Filos mine in Mexico, the Aurizona and RDM mines in Brazil, and the Mesquite and Castle Mountain mines in the United States. Construction is underway at the Greenstone project in Canada and the Santa Luz project in Brazil, with first gold pour expected in 2024 and Q1 2022, respectively. Equinox Gold aims to responsibly produce over 1 million ounces of gold annually through organic growth from its existing assets
- The document is a presentation from Agnico Eagle Mines Limited given at a Scotia BBQ on August 18, 2016.
- It discusses Agnico Eagle's forward-looking statements and production guidance, provides an overview of the company's strong financial position and long history of dividend payments, and outlines its growth strategy through projects in its development pipeline.
- Agnico Eagle has successfully grown production and reserves through acquisitions and exploration over the past decade and expects its project pipeline to drive a new phase of 30-40% production growth by 2020.
- The corporate presentation provides an overview of New Gold Inc., including highlights of its portfolio of mining assets located in top-rated jurisdictions, its investment thesis, and forward-looking production and cost guidance.
- New Gold has a portfolio of assets in Canada, the United States, and Mexico, including the Rainy River and Blackwater projects which have the potential to add over 300koz to annual gold production.
- Key aspects of New Gold's investment thesis are its majority of gold reserves located in Canada, low-cost production profile, and a peer-leading growth pipeline including the fully-funded Rainy River project.
Royal Gold reported strong financial results for its fiscal second quarter of 2017. Revenue increased 9% compared to the prior year quarter to $107 million, driven by higher gold prices and steady production across its portfolio. Operating cash flow grew 34% year-over-year. Production is expected to increase in the coming quarters from new contributions from Rainy River, which is estimated to begin production in September 2017, and from an amended gold-copper stream at Mount Milligan. Royal Gold has no additional funding requirements and $420 million in available liquidity as of December 31, 2016.
Corporate presentation september 2016 v finalnewgold2011
- The document is a corporate presentation from New Gold that outlines cautionary statements regarding forward-looking information.
- It notes that statements in the presentation that address events, results, outcomes or developments that New Gold expects to occur are forward-looking statements which are based on certain assumptions and are subject to risks and uncertainties.
- It lists numerous risks and uncertainties that could cause actual results to differ materially from expectations, including risks related to prices, currency fluctuations, estimates, permitting, political and legal factors, and other operational risks.
The document provides an agenda for an Investor Day presentation on February 18, 2016. The presentation agenda includes an overview of the gold market, a company update, an overview of New Gold, operational results and outlook for 2015 and 2016, mineral reserve updates, development of the Rainy River project, 2015 financial results, and a conclusion. The document also includes cautionary statements regarding forward-looking statements and information contained in the presentation.
- Detour Gold is a Canadian gold mining company and intermediate gold producer.
- In 2016, Detour Gold expects to produce between 540,000-590,000 ounces of gold at total cash costs between $675-750 per ounce sold and all-in sustaining costs between $840-940 per ounce sold.
- In Q1 2016, Detour Gold produced 127,136 ounces of gold and sold 137,608 ounces at total cash costs of $637 per ounce sold and all-in sustaining costs of $824 per ounce sold.
- The document is a corporate presentation from New Gold that contains forward-looking statements and cautionary language regarding those statements.
- It discusses New Gold's portfolio of assets in top-rated jurisdictions including Canada, the US, Mexico, and Australia.
- The presentation provides highlights from 2015 including record gold production that exceeded guidance and lower than planned costs. It also outlines New Gold's growth pipeline and 2016 guidance.
Agnico Eagle reported strong results for the second quarter of 2016, including:
- Gold production of 408,932 ounces at total cash costs of $592 per ounce
- Increased 2016 production guidance to 1.58-1.6 million ounces at lower costs
- Repaid $210 million credit facility balance and $20 million loan, reducing net debt to $742 million
- Declared a 25% increased quarterly dividend to $0.10 per share
- Royal Gold reported record revenue and volume in Q2 FY2016, driven by contributions from new stream agreements including Pueblo Viejo.
- Production from key assets like Pueblo Viejo, Mount Milligan, and Wassa/Prestea met or exceeded expectations in 2015.
- The company is well positioned for growth with new streams from Rainy River and existing liquidity to fund commitments, while trading at compelling valuation levels not seen since the financial crisis.
Agnico Eagle reported record annual gold production in 2014 of 1.429 million ounces at total cash costs of $637 per ounce. For the fourth quarter of 2014, gold production was 387,538 ounces at total cash costs of $662 per ounce. Agnico Eagle expects gold production to increase to approximately 1.6 million ounces in 2015 at total cash costs of $610 to $630 per ounce, and all-in sustaining costs of $880 to $900 per ounce. Agnico Eagle also provided three-year production guidance for 2015 to 2017, with expected average annual gold production of approximately 1.6 million ounces.
Bank of America Merrill Lynch 2016 Global Metals, Mining EventAgnico Eagle Mines
This document provides an overview of Agnico Eagle Mines Limited's presentation at the 22nd Annual Canada Mining Event hosted by Bank of America Merrill Lynch in September 2016. It contains forward-looking statements about Agnico Eagle's production guidance, costs, projects and growth plans. It also notes the risks associated with forward-looking statements and provides details on Agnico Eagle's non-GAAP financial measures and production guidance methodology. Finally, it highlights Agnico Eagle's strategy of value creation through consistent performance, production growth, high-quality reserves, exploration success and financial strength.
- Agnico Eagle and Yamana Gold jointly acquired Osisko Mining Corporation on June 16, 2014 to form the Canadian Malartic General Partnership.
- Production guidance for 2014 was increased to 1.35-1.37 million ounces of gold with total cash costs forecasted between $650-675 per ounce.
- Exploration drilling at the IVR discovery near Meadowbank continues to expand the mineralization, with four mineralized zones now outlined and mineralization remaining open in all directions.
- Agnico Eagle reported its third quarter 2015 results on October 29, 2015.
- The document discusses forward-looking statements regarding production guidance, costs, and expansion projects and contains risks and assumptions.
- It also notes that certain measures used are non-GAAP measures and provides reconciliations to IFRS, and that production guidance is based on reserves but includes contingencies and different price assumptions than reserves.
Agnico Eagle reported its first quarter 2016 results on April 29, 2016. The document provides forward-looking statements regarding Agnico Eagle's expectations for production, costs, capital expenditures, and other estimates. It notes that actual results may differ materially from expectations due to risks and uncertainties in the business. The document also explains non-GAAP measures used to evaluate performance such as total cash costs per ounce and all-in sustaining costs per ounce.
The Nunavut Experience Mining and Exploring North of 60Agnico Eagle Mines
The document discusses permitting for mining and exploration projects in Nunavut, Canada. It notes that [1] Inuit organizations own subsurface and surface rights to portions of the land in Nunavut. [2] Key Inuit organizations that must be engaged with for agreements include Nunavut Tungavik Incorporated and regional Inuit organizations. [3] Permitting for exploration projects in Nunavut involves engaging with both Inuit organizations and various federal and territorial government bodies.
The document cautions readers that certain information in the presentation regarding New Gold's future performance are forward-looking statements that are based on estimates and assumptions that are subject to risks and uncertainties. It provides context for forward-looking production, cost, and capital expenditure guidance. The document also lists key assumptions underlying the forward-looking statements and outlines risk factors that could materially affect actual results.
The document contains forward-looking statements regarding Yamana Gold's plans and objectives. It discusses Yamana's strategy to advance, develop, and build on its Canadian property pipeline in a strategic manner. It also notes Yamana's goal to integrate exploration and technical services to enhance shareholder value.
New gold presentation march 2017 v websitenewgold2011
The corporate presentation provides an overview of New Gold Inc., including:
- New Gold has a portfolio of assets in top-rated mining jurisdictions like Canada, the USA, Australia and Mexico.
- Their key growth project is the Rainy River mine in Ontario, Canada, which is expected to have an initial 14-year mine life upon achieving commercial production in late 2017.
- New Gold's priorities for 2017 include strengthening their team at Rainy River to ensure successful execution of the project, as well as pursuing opportunities to further optimize cash flow from their operating mines.
- The document is a corporate presentation from May 2016 that contains cautionary statements about forward-looking information.
- It warns that statements regarding future financial performance, projects, activities, and expectations are forward-looking and subject to risks and uncertainties that could cause actual results to differ materially.
- The presentation outlines numerous risk factors that could affect the company's projections including economic, geological, permitting, environmental, social, regulatory, political, and financial risks.
Agnico Eagle Mines reported first quarter 2013 results with gold production of 236,975 ounces at a total cash cost of $740 per ounce. Cash flow from operations was $146 million. Production and costs were in line with expectations. The company's Goldex and La India projects remain ahead of schedule with initial production expected in Q4 2013 and commissioning beginning late Q4 2013 respectively. Kittila's scheduled mill maintenance was extended resulting in reduced 2013 production estimates.
Equinox Gold Q2 Results and Corporate Update August 4 2021Equinox Gold Corp.
Equinox Gold provided an operational and financial update for Q2 2021. Key highlights included:
- Producing 122,656 ounces of gold and selling 124,712 ounces at an average realized price of $1,806 per ounce.
- Mine cash costs of $1,089 per ounce and AISC of $1,382 per ounce for the quarter.
- Net income of $325.7 million or $1.10 per share, and adjusted EBITDA of $52.4 million.
- Cash and equivalents of $333.9 million and net debt of $215.6 million at the end of June.
The company also provided an updated 2021 production and
Equinox Gold is a gold mining company with 7 producing mines and 2 growth projects. In 2022, it expects to produce 670,000 ounces of gold at an all-in sustaining cost of $1,330-$1,410 per ounce. Key assets include the Los Filos mine in Mexico, the Aurizona and RDM mines in Brazil, and the Mesquite and Castle Mountain mines in the United States. Construction is underway at the Greenstone project in Canada and the Santa Luz project in Brazil, with first gold pour expected in 2024 and Q1 2022, respectively. Equinox Gold aims to responsibly produce over 1 million ounces of gold annually through organic growth from its existing assets
Equinox Gold is a growth-focused Canadian mining company operating entirely in the Americas, with seven operating gold mines (including Mercedes) and a clear path to achieve more than one million ounces of annual gold production from a pipeline of development and expansion projects. Equinox Gold’s common shares are listed on the TSX and the NYSE American under the trading symbol EQX.
Equinox Gold is a Canadian mining company with eight operating gold mines, construction underway at a ninth site, a multi-million-ounce gold reserve base and a clear path to achieve more than one million ounces of annual gold production from a pipeline of development and expansion projects. Equinox Gold operates entirely in the Americas with properties in Canada, the United States, Mexico and Brazil. Equinox Gold’s common shares are listed on the TSX and the NYSE American under the trading symbol EQX.
Equinox Gold is a Canadian mining company with seven operating gold mines and construction underway at an eighth site, a multi-million-ounce gold reserve base and a clear path to achieve one million ounces of annual gold production from a pipeline of development and expansion projects. Equinox Gold operates entirely in the Americas, with two properties in the United States, one in Mexico and five in Brazil. Equinox Gold’s common shares are listed on the TSX and the NYSE American under the trading symbol EQX. Further information about Equinox Gold’s portfolio of assets and long-term growth strategy is available at www.equinoxgold.com or by email at ir@equinoxgold.com.
Equinox Gold is a Canadian mining company with seven operating gold mines and construction underway at an eighth site, a multi-million-ounce gold reserve base and a clear path to achieve one million ounces of annual gold production from a pipeline of development and expansion projects. Equinox Gold operates entirely in the Americas, with two properties in the United States, one in Mexico and five in Brazil. Equinox Gold’s common shares are listed on the TSX and the NYSE American under the trading symbol EQX. Further information about Equinox Gold’s portfolio of assets and long-term growth strategy is available at www.equinoxgold.com or by email at ir@equinoxgold.com.
Equinox Gold is a gold mining company with producing mines in the United States, Brazil, and Mexico, as well as development projects in Canada and Brazil. It has over 16 million ounces of gold reserves and is forecast to produce around 600,000 ounces of gold in 2021. Equinox Gold aims to grow annual production to over 1 million ounces through organic growth from its existing mines and projects, including expansions at Los Filos and Castle Mountain, and the development of the large Greenstone project in Canada and the Santa Luz project in Brazil. The company is well funded with over $530 million in liquidity to achieve its growth goals.
Aura Minerals Corporate Presentation- May 2014DeniseFlo
This presentation provides an overview of Aura Minerals Inc. as of May 2014. It discusses the company's assets which include producing gold mines in Brazil, Honduras, and Mexico, as well as advanced copper and gold projects. It provides 2014 guidance for gold and copper production and cash costs. The presentation also highlights that the company is executing two transformational projects - expanding capacity at its Aranzazu copper mine in Mexico from 2,600 tonnes per day to 4,500 tonnes per day.
06 17-14 rbc capital market mining and metals conference v001-l7z7waAuRico Gold
The document provides an overview of Aurico Gold Inc., including its assets, production and cost guidance for 2014, and exploration results. Key points include:
- Aurico is positioned for production growth of up to 25% in 2014 from its Young-Davidson and El Chanate mines in Canada and Mexico, respectively.
- 2014 cost guidance shows cash costs between $675-775/oz and all-in sustaining costs of $1,100-1,200/oz.
- Exploration results from El Chanate show potential to expand reserves through drilling at depth and along trends northwest and southeast of the mine.
Detour Gold Corporation is a Canadian gold mining company operating the Detour Lake Mine in Ontario, Canada. In 2014, the company aimed to increase production at Detour Lake while decreasing costs. Key targets included producing 450,000-500,000 ounces of gold at total cash costs of $800-900 per ounce. Near-term opportunities exist to further optimize operations through incremental expansion projects over the next 2-5 years. Detour Lake also hosts 15.5 million ounces of gold reserves and exploration potential on its 100% owned land package.
Detour Gold Corporation is a Canadian gold mining company operating the Detour Lake Mine in Ontario, Canada. In 2014, the company aimed to increase production at Detour Lake Mine while decreasing costs. Key targets for 2014 included producing 450,000-500,000 ounces of gold at total cash costs of $800-900 per ounce. Near-term opportunities at the mine through 2017 include increasing mill throughput, advancing the Block A project, and exploring opportunities for lower grade material. Detour Gold provides exposure to gold production from a long-life asset in a mining-friendly jurisdiction with potential for further optimization and growth.
Equinox Gold is a Canadian mining company with seven operating gold mines and construction underway at an eighth site, a multi-million-ounce gold reserve base and a clear path to achieve one million ounces of annual gold production from a pipeline of development and expansion projects. Equinox Gold operates entirely in the Americas, with two properties in the United States, one in Mexico and five in Brazil. Equinox Gold’s common shares are listed on the TSX and the NYSE American under the trading symbol EQX. Further information about Equinox Gold’s portfolio of assets and long-term growth strategy is available at www.equinoxgold.com or by email at ir@equinoxgold.com.
This corporate presentation provides an overview of Detour Gold Corporation as Canada's intermediate gold producer. It summarizes Detour Gold's plans to increase gold production and decrease costs in 2014, including ramping up its Detour Lake mine in Ontario to achieve steady-state production rates. The presentation outlines Detour Gold's 2014 production guidance of 450,000-500,000 ounces of gold at total cash costs of $800-900 per ounce and capital expenditures of $131 million. It positions Detour Gold as a premier intermediate Canadian gold producer with a long mine life and production growth opportunities.
- Detour Gold Corporation is a Canadian gold producer presenting on its operations and growth plans.
- It operates the Detour Lake mine in Ontario, Canada, which has proven and probable reserves of 15.5 million ounces of gold.
- In 2014, the company is focused on increasing production and decreasing costs as the mine ramps up, with targets of 450,000-500,000 ounces of gold production and total cash costs of $800-900 per ounce sold.
This document summarizes a presentation given at the TD Mining Conference on January 27, 2015 by AuRico Gold Inc. It discusses AuRico Gold's balanced portfolio of North American gold assets, including its flagship Young-Davidson mine in Ontario, Canada. The summary highlights that in 2014 Young-Davidson achieved production growth, lowered costs, and transitioned to positive net free cash flow. AuRico Gold's strategic plan is to further increase production and lower costs at Young-Davidson to generate significant free cash flow over its 20+ year mine life.
BMO Global Metals & Mining Conference, FloridaDetourGold
- Detour Gold is a Canadian intermediate gold producer providing guidance for 2015 of 475-525 thousand ounces of gold production at total cash costs of $780-850 per ounce and all-in sustaining costs of $1,050-1,150 per ounce.
- Key targets for 2015 include improving the mining rate to 238,000 tonnes per day, mill throughput to 54,000 tonnes per day, and gold recovery to 91.5%.
- The 2015 sustaining capital budget is estimated at $90-100 million US dollars.
BMO Global Metals & Mining Conference, FloridaDetourGold
- Detour Gold is a Canadian intermediate gold producer providing guidance for 2015 of 475-525 thousand ounces of gold production at total cash costs of $780-850 per ounce and all-in sustaining costs of $1,050-1,150 per ounce.
- Key targets for 2015 include improving the mining rate to 238,000 tonnes per day, mill throughput to 54,000 tonnes per day, and gold recovery to 91.5%.
- Planned sustaining capital expenditures are $90-100 million which is expected to generate $140-195 million in net cash flow for 2015 depending on gold prices.
BMO Global Metals & Mining Conference, FloridaDetourGold
- Detour Gold is a Canadian intermediate gold producer providing guidance for 2015 of 475-525 thousand ounces of gold production at total cash costs of $780-850 per ounce and all-in sustaining costs of $1,050-1,150 per ounce.
- Key targets for 2015 include improving the mining rate to 238,000 tonnes per day, mill throughput to 54,000 tonnes per day, and gold recovery to 91.5%.
- The 2015 sustaining capital budget is estimated at $90-100 million US dollars.
Equinox Gold is a Canadian mining company with seven operating gold mines and construction underway at an eighth site, a multi-million-ounce gold reserve base and a clear path to achieve one million ounces of annual gold production from a pipeline of development and expansion projects. Equinox Gold operates entirely in the Americas, with two properties in the United States, one in Mexico and five in Brazil. Equinox Gold’s common shares are listed on the TSX and the NYSE American under the trading symbol EQX. Further information about Equinox Gold’s portfolio of assets and long-term growth strategy is available at www.equinoxgold.com or by email at ir@equinoxgold.com.
Sales Desk Presentation - February 2-6, 2015AuRico Gold
- The document is a sales desk presentation from Aurico Gold covering the period from February 2-6, 2015.
- Aurico Gold has built a portfolio of low cost, long life mining assets that is expected to deliver significant production growth and a growing free cash flow profile.
- Their flagship asset is the Young-Davidson mine, one of Canada's largest underground gold mines located in Ontario with over 20 years of mine life remaining.
Similar to Hecla Mining - Corporate Presentation (20)
Presentation Clayton Valley, NevadaFrom Drilling to PEA in under 2 YearsCompany Spotlight
The document summarizes Cypress Development Corp's Clayton Valley lithium project in Nevada. Key points include:
- A Preliminary Economic Assessment shows promising economics including a 32.7% IRR and $1.45 billion NPV.
- Measured and indicated resources total 8.9 million tonnes LCE with additional inferred resources.
- The project has the potential for low-cost production due to favorable geology and metallurgy.
- Upcoming catalysts in 2019 include a metallurgical study and prefeasibility study to further de-risk the project.
Aben Resources has made a new high-grade gold discovery at its flagship Forrest Kerr project in BC's Golden Triangle region. The region is known for major gold deposits and saw $100 million in exploration spending in 2017. Recent improvements have made the Forrest Kerr project more accessible via new roads. Aben's technical team has reinterpreted historical data and identified additional exploration targets. The project covers over 23,000 hectares of prospective geology along the Forrest Kerr fault zone that is similar to other major deposits in the Golden Triangle.
Aben Resources has discovered high-grade gold zones at its Forrest Kerr project in British Columbia's Golden Triangle. The first hole of the 2018 drill program intersected four separate high-grade gold zones within 190 metres, including 331.0 g/t Au over 1.0 metre. Aben plans to expand drilling at the Boundary North Zone and test other gold anomalies identified through soil sampling. The company also holds the Justin project in Yukon and Chico project in Saskatchewan near recent discoveries.
Cypress Development Corp. owns lithium claims in Clayton Valley, Nevada near Albemarle's Silver Peak lithium mine. A preliminary economic assessment found the project could have a 32.7% IRR and $1.45 billion NPV. The project would extract lithium from claystone using leaching and have average annual production of 24,042 tonnes of lithium carbonate over 40 years. Capital costs are estimated at $482 million to build a 15,000 tonne per day operation.
The document discusses Aben Resources Ltd., a gold exploration company with projects in British Columbia's Golden Triangle region and other areas of Western Canada. It provides an overview of Aben's management team and directors, flagship Forrest Kerr project, recent drilling results showing new high-grade gold discoveries, and its strategy to advance exploration through 2018. The document also briefly outlines Aben's other projects including the Chico gold project in Saskatchewan and Justin gold project in Yukon.
Cypress Development Corp. owns the Clayton Valley lithium project in Nevada. Drilling in 2017 intersected lithium-bearing claystone averaging 921 ppm Li over 77 meters thick. A maiden resource estimate calculated 3.287 million tonnes of lithium carbonate equivalent in the indicated category and 2.916 million tonnes LCE in inferred. Metallurgical tests show the claystone is acid leachable and able to recover over 80% of the lithium. Cypress plans additional drilling, engineering studies, and permitting to advance the project towards production.
- Aben Resources has three highly prospective gold projects in Western Canada including its flagship Forrest Kerr Project in BC's Golden Triangle region, which had recent drilling success expanding the Boundary North Zone.
- Management has over 100 years of combined experience in Western Canada and a proven track record of success.
- The projects have significant historic work identifying high-grade gold and robust discovery potential remains.
Cypress Development Corp. owns the Clayton Valley lithium project in Nevada. Drilling in 2017 intersected lithium-bearing claystone averaging 921 ppm Li over 77 meters. A maiden resource estimate classified over 1.3 million tonnes of lithium carbonate equivalent as indicated and inferred. Metallurgical testing shows the claystone is leachable with over 80% lithium recovery. Cypress aims to advance the project with engineering studies and further drilling to define resources with the goal of becoming a domestic lithium producer for the growing battery market.
The document provides forward-looking statements and discusses risks associated with such statements. It notes that some statements may be deemed forward-looking and lists factors that could cause actual results to differ from forward-looking statements. The document also identifies the qualified person for the technical information as Cornell McDowell and provides Aben's trading symbols and recent share information.
The document provides an overview of Aben Resources Ltd., a mineral exploration company with gold projects in Western Canada. It summarizes Aben's three key projects - Forrest Kerr in BC's Golden Triangle region with recent drill results discovering the Boundary Zone, Chico in Saskatchewan near producing mines, and Justin in Yukon's White Gold district. It outlines the management team's expertise and provides company details like shares outstanding and trading symbols.
- Cypress Development Corp owns the Clayton Valley lithium project in Nevada located near Albemarle's Silver Peak lithium brine operation.
- Drilling in 2017 encountered lithium mineralization averaging 921 ppm Li over 77 meters in 14 holes drilled.
- Metallurgical tests show the claystone is acid leachable with over 80% lithium extraction possible.
- Cypress aims to define a resource estimate in 2018 and advance the project with feasibility studies to develop a lithium operation.
The document discusses forward-looking statements and provides disclaimers about them. It introduces the qualified person for the technical information presented. It also lists Aben's trading symbols and recent share information including price and market capitalization.
1) Cypress Development Corp owns the Clayton Valley lithium project located next to Albemarle's Silver Peak mine in Nevada. Drilling in 2017 intersected lithium-bearing claystone averaging over 900 ppm Li to a depth of over 100 meters.
2) A maiden resource estimate classified over 1.5 million tonnes of lithium carbonate equivalent as indicated and inferred. Metallurgical testing shows the claystone is acid leachable to extract over 80% of the lithium.
3) The project is located in a strategic location to supply the growing lithium-ion battery market in the US, with lithium demand accelerating due to the increased production of electric vehicles globally.
TerraX Minerals is a Canadian mineral exploration company focused on exploring and developing its 100% owned 772 square km Yellowknife City Gold project located adjacent to the city of Yellowknife, Northwest Territories. The project covers high-grade Archean gold districts and has had multiple high-grade gold discoveries. TerraX has a strong management team with experience discovering and developing gold deposits and low exploration costs due to the project's excellent infrastructure and year-round access near Yellowknife.
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Cypress Development Corp owns lithium claystone deposits in Clayton Valley, Nevada near Albemarle's Silver Peak lithium mine. Drilling in 2017 encountered lithium mineralization averaging 921 ppm Li over 77 meters in 14 holes. Metallurgical tests show the claystone is acid leachable with up to 80% lithium extraction. Cypress plans additional drilling, process engineering, and a preliminary economic assessment in 2018 to advance the project. The company sees potential for the project given growing lithium demand from electric vehicles and batteries.
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Hecla Mining - Corporate Presentation
1. U N D E R V A L U E DF I N A N C I A L S T R E N G T HU P S I D E P O T E N T I A LQ U A L I T Y A S S E T S
Company Update
March 2015
2. H E C L A M I N I N G C O M P A N Y
2
Cautionary Statement Regarding Forward Looking Statements, Including 2015 Outlook
This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be
covered by the safe harbor created by such sections and other applicable laws, including Canadian Securities laws. Such forward-looking statements may include, without limitation: (i) estimates of future production and sales,
including as a result of the #4 Shaft Project; (ii) estimates of future costs and cash cost, after by-product credits per ounce of silver/gold, including the expected cost of the #4 Shaft project; (iii) guidance for 2015 for silver and gold
production, silver equivalent production, cash cost, after by-product credits, capital expenditures and pre-development and exploration expenditures (which assumes metal prices of gold at $1,225/oz., silver at $17.25/oz., zinc at
$0.90/lb. and lead at $0.95/lb. and US dollar/Canadian dollar at $0.91); (iv) expectations regarding the development, growth and exploration potential of the Company’s projects; (v) expectations of growth; (vi) the Company’s mineral
reserves and resources;(vii) possible strike extensions of veins, new resources at the North and East Francine Veins, and discovery of new veins at the San Sebastian project, and expectations for completion of the PEA; (viii)
estimates or expectations of future events or results are based upon certain assumptions, which may prove to be incorrect; and (ix) expectations for 2015 capital and exploration expenses to be fully funded by adjusted EBITDA. Such
assumptions, include, but are not limited to: (i) there being no significant change to current geotechnical, metallurgical, hydrological and other physical conditions; (ii) permitting, development, operations and expansion of the
Company’s projects being consistent with current expectations and mine plans; (iii) political/regulatory developments in any jurisdiction in which the Company operates being consistent with its current expectations; (iv) the exchange
rate for the Canadian dollar to the U.S. dollar, being approximately consistent with current levels; (v) certain price assumptions for gold, silver, lead and zinc; (vi) prices for key supplies being approximately consistent with current
levels; (vii) the accuracy of our current mineral reserve and mineral resource estimates; and (viii) the Company’s plans for development and production will proceed as expected and will not require revision as a result of risks or
uncertainties, whether known, unknown or unanticipated. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a
reasonable basis. However, such statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the “forward-looking
statements.” Such risks include, but are not limited to gold, silver and other metals price volatility, operating risks, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in
mining plans, community relations, conflict resolution and outcome of projects or oppositions, litigation, political, regulatory, labor and environmental risks, and exploration risks and results, including that mineral resources are not
mineral reserves, they do not have demonstrated economic viability and there is no certainty that they can be upgraded to mineral reserves through continued exploration. For a more detailed discussion of such risks and other factors,
see the Company’s 2014 Form 10-K, filed on February 18, 2015 with the Securities and Exchange Commission (SEC), as well as the Company’s other SEC filings. The Company does not undertake any obligation to release publicly
revisions to any “forward-looking statement,” including, without limitation, outlook, to reflect events or circumstances after the date of this presentation, or to reflect the occurrence of unanticipated events, except as may be required
under applicable securities laws. Investors should not assume that any lack of update to a previously issued “forward-looking statement” constitutes a reaffirmation of that statement. Continued reliance on “forward-loo king statements”
is at investors’ own risk.
Cautionary Note Regarding Estimates of Measured, Indicated and Inferred Resources
The United States Securities and Exchange Commission (SEC) permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use
certain terms in this presentation, such as “resource,” “measured resources,” “indicated resources,” and “inferred resources” that are recognized by Canadian regulations, but that SEC guidelines generally prohibit U.S. registered
companies from including in their filings with the SEC, except in certain circumstances. U.S. investors are urged to consider closely the disclosure in our most recent Form 10-K and Form 10-Q. You can review and obtain copies of
these filings from the SEC’s website at www.sec.gov.
Qualified Person (QP) Pursuant to Canadian National Instrument 43-101
Dean McDonald, PhD. P.Geo., Senior Vice President - Exploration of Hecla Mining Company, who serves as a Qualified Person under National Instrument 43-101("NI 43-101"), supervised the preparation of the scientific and technical
information concerning Hecla’s mineral projects in this presentation. Information regarding data verification, surveys and investigations, quality assurance program and quality control measures and a summary of analytical or testing
procedures for the Greens Creek Mine are contained in a technical report titled “Technical Report for the Greens Creek Mine” effective date March 28, 2013, and for the Lucky Friday Mine are contained in a technical report titled
“Technical Report for the Lucky Friday Mine Shoshone County, Idaho, USA” effective date April 2, 2014, and for Casa Berardi are contained in a technical report titled "Technical Report on the mineral resource and mineral reserve
estimate for Casa Berardi Mine, Northwestern Quebec, Canada" effective date March 31, 2014 (the "Casa Berardi Technical Report"). Also included in these three technical reports is a description of the key assumptions, parameters
and methods used to estimate mineral reserves and resources and a general discussion of the extent to which the estimates may be affected by any known environmental, permitting, legal, title, taxation, socio-political, marketing or
other relevant factors. Copies of these technical reports are available under Hecla's and Aurizon's profiles on SEDAR at www.sedar.com. The Casa Berardi Technical Report was reviewed by Dr. McDonald on behalf of Hecla. To the
best of Hecla's knowledge, information and belief, there is no new material scientific or technical information that would make the disclosure of the mineral resources and mineral reserves for Casa Berardi in this document inaccurate
or misleading.
Cautionary Note Regarding Non-GAAP measures
Cash cost per ounce of silver and gold, net of by-product credits and adjusted EBITDA represent non-U.S. Generally Accepted Accounting Principles (GAAP) measurement. A reconciliation of each of these non-GAAP measures to
GAAP measures can be found in the Appendix.
Cautionary Statements
3. H E C L A M I N I N G C O M P A N Y
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
2-Jan-15 17-Jan-15 1-Feb-15 16-Feb-15
Hecla Intermediate Silver Index Junior Silver Index Silver Spot
3
2015 Relative Price Performance
3%
4%
Hecla’s Outperformance YTD
-9%
Source – Bloomberg (January 1, 2015 – February 20, 2015)
Intermediate Silver Index include: Pan American Silver, Coeur Mining, Silver Standard, Tahoe Resources, First Majestic
Junior Silver Index include: Bear Creek Mining, MAG Silver, Fortuna Silver, Endeavour Silver
21%
Price Performance
Hecla: 21%
Intermediate Silver Index: 4%
Junior Silver Index: 9%
Silver Spot: 3%
4. H E C L A M I N I N G C O M P A N Y
4
2014 Highlights and Achievements
$501M revenue 31%1
34.5M silver equivalent production 50%2
11.1M ounces silver production 24%
187K ounces gold production 56%
P & P silver reserves 173M ounces 1.9%
Adjusted EBITDA $174M 29%3
Cash at year end $210M vs. $212M at 12/31/2013
Record
Record
Record
Record
1. Increase in revenue and production was principally due to owning Casa Berardi for the entire year versus only seven months in 2013 and Lucky Friday reaching full production in September 2013.
2. 2014 silver equivalent calculation is based on the following prices: $19.08 for silver, $1,266 for gold, $0.95 for lead, and $0.98 for zinc.
3. Adjusted EBITDA is a non-GAAP measurement, a reconciliation of which to net income (GAAP) can be found at the end of this release.
5. H E C L A M I N I N G C O M P A N Y
5
Hecla: A Transformed Company Since 2012
2012 2014 % Change
Silver production 6.4Moz 11.1Moz +73%
Silver equivalent production 14.3Moz 34.5Moz +142%
Gold production 56Koz 187Koz +237%
Revenue $321M $501M +56%
Operating cash flow $69M $138M1 +101%
1. Pro-forma 2014 OCF includes the $55.4 M final Coeur d’Alene Basin Environmental Settlement Payment which was almost entirely funded by issuance of warrants.
6. H E C L A M I N I N G C O M P A N Y
2015 Expectations
6
Note: Metal price assumptions used for calculations: Au $1,225/oz, Ag $17.25/oz, Zn $0.95/lb, Pb $0.90/lb; USD/CAD assumed at 0.91.
1. 2015E refers to Hecla’s expectations for 2015.
2. Cash cost, after by-product credits, per silver and gold ounce represents a non-GAAP measurement.
3. All metal equivalent production of 35 million oz includes silver, gold, lead and zinc production from Lucky Friday, Greens Creek and Casa Berardi converted using the following conversion ratios: 60:1 gold to
silver, 80:1 zinc to silver and 90:1 lead to silver.
Mine
2015E1 Silver
Production (Moz)
2015E1 Gold
Production (oz)
Cash cost, after by-product
credits, per silver/gold ounce2
Greens Creek 7.3 55,000 $4.50
Lucky Friday 3.2 n/a $8.75
Casa Berardi n/a 130,000 $825
Total 10.5 185,000 $6.00
Equivalent Production:
Including all Metals 35³
2015E1 capital expenditures (excluding capitalized interest) $145 million
2015E1 pre-development and exploration expenditures $18 million
7. H E C L A M I N I N G C O M P A N Y
What Differentiates Hecla From Its Peers
7
Quality assets and strong reserves – no impairments or write-downs
of our properties
Our mines are strong cash flow generators
All our mines and pre-development projects have further upside
Financially strong
Undervalued
8. H E C L A M I N I N G C O M P A N Y
$17.25 $18.00 $18.50 $19.00
$22.00
Hecla Endeavour Pan
American
Coeur Goldcorp
$1,225
$1,250 $1,260 $1,275
$1,300
Hecla Pan American Endeavour Coeur Goldcorp
$18.00
$20.00
$22.00
$24.00
$30.00
Endeavour Hecla Coeur Goldcorp Pan
American*
$1,260
$1,300
$1,350
$1,400
$1,500
Endeavour Hecla Coeur Pan
American*
Goldcorp
HL Using Lower 2014 Reserve/Resource Prices1
2014 Reserve Gold Price/oz
1. Data from public filings
*Resource prices for Dolores and Alamo Dorado only
8
2014 Reserve Silver Price/oz
2014 Resource Gold Price/oz2014 Resource Silver Price/oz
9. H E C L A M I N I N G C O M P A N Y
9
Conventional Wisdom
“Precious metals companies don’t
generate free cash flow.”
“Precious metals companies have
projects with large cost and time
overruns.”
10. H E C L A M I N I N G C O M P A N Y
$104.7
$209.7
$971.9
$550.4
$160.1
$42.2
$263.4 $1.9
$151.2
2010 Beginning
Cash
Adjusted EBITDA Capex Exploration + Pre-
development
Dividends Basin Settlement Other Cash from
Aurizon*
2014 Ending Cash
Hecla Is A Strong Cash Flow Generator
Cash Bridge 2010 – 2014
1. Adjusted EBITDA represents a non-GAAP measurement, a reconciliation of which to net income, the most comparable GAAP measure, can be found in the Appendix.
2. Includes: Capital leases, reclamation activities, investments, proceeds from warrant exercise, interest, etc.
Average prices for the period: Gold - $1,429/oz, Silver $25.92/oz, Lead $0.99/lb, Zinc $0.94/lb
Numbers might not add up due to rounding.
*Net of Aurizon acquisition costs of $26.4M.
10
(US$ Millions)
Available
Cash Flow
$219.2M
11
2
Partially
Discretionary
$752.7M
Other
Expenses
$265.3M
11. H E C L A M I N I N G C O M P A N Y
Our Mines Are Strong Cash Flow Generators
11
$60.9
$10.6
$50.4
OCF* Capex FCF**
2014 (USD Millions)
$69.1
$29.3
OCF* Capex FCF**
72% Conversion
to FCF1
48% Conversion
to FCF 2
1. Cash flow conversion calculated as FCF/OCF
2. Based on free cash flow w/o #4 Shaft capex
*OCF stands for Operating Cash Flow
**FCF stands for Free Cash Flow
15% Conversion
to FCF1
Casa Berardi Lucky Friday
$33.8
$16.3
$34.5
($18.2)
$17.5
OCF* Capex FCF**
w/o #4
Shaft
Capex
#4
Shaft
Capex
FCF**
w/ #4
Shaft
Capex
Greens Creek
$104.0
12. H E C L A M I N I N G C O M P A N Y
North American Focused Asset Portfolio
12
Operations In
Low-Risk +
Mining-Friendly
Jurisdictions
13. H E C L A M I N I N G C O M P A N Y
Higher Grade Mines Than Peers
13
Source: Company filings, MEG, BMO Capital Markets (02/12/2015)
Higher Grade
14. H E C L A M I N I N G C O M P A N Y
Greens Creek: High Grade & High Margin
14
Silver Production
Gold
Production
Cash cost, after by-product
credits, per silver oz1
2014 Actual 7.8 Moz 58,753 oz $2.89/oz
2015E 7.3 Moz 55,000 oz $4.50/oz
2015E Capital $40M Ownership 1987(29.7%) / 2008(100%)
2P Reserves 94.0 Moz silver @ 12.2 oz/t
M+I Resources 9.1 Moz silver @ 11.0 oz/t
1. Cash cost, after by-product credits, per silver ounce represents a non-U.S. Generally Accepted Accounting Principles (GAAP) measurement, a reconciliation of which to cost of
sales and other direct production costs and depreciation, depletion and amortization, the most comparable GAAP measurements, can be found in the Appendix.
15. H E C L A M I N I N G C O M P A N Y
Consistently
Generates
Positive
Free Cash Flow
30 Vein
Greens Creek: Strong Financial Performance
1. Statistics from 1989 – 2014 on a 100% joint-venture basis
(Hecla owned 29.7% until 2008)
15
Past 25 Years1
Revenue $4.4 billion
Net Income $1.1 billion
Free Cash Flow $941 million
22% Free Cash Flow Conversion
Historical Production Past 25 Years
Silver Production:
191.4 Moz
Zinc Production:
1.4 M tons
Gold Production:
1.4 Moz
Lead Production:
0.5 M tons
16. H E C L A M I N I N G C O M P A N Y
16
Greens Creek: Expanding Reserves and Resources
Definition Drilling Exploration Drilling
Deep 200
South
Definition
Deep 200 South
Exploration
Definition Drilling Exploration Drilling
Deep 200
South
Definition
Deep 200 South
Exploration
17. H E C L A M I N I N G C O M P A N Y
Lucky Friday: Back at Full Production
17
Silver Production
Cash cost, after by-product
credits, per silver oz1
2014 Actual 3.2 Moz $9.44/oz
2015E 3.2 Moz $8.75/oz
2015E Capital $58M Ownership 1958
2P Reserves 78.9 Moz silver @ 13.4 oz/t
M+I Resources 125.0Moz silver @ 5.7 oz/t
1. Cash cost, after by-product credits, per silver ounce represents a non-U.S. Generally Accepted Accounting Principles (GAAP) measurement, a reconciliation of which to cost of
sales and other direct production costs and depreciation, depletion and amortization, the most comparable GAAP measurements, can be found in the Appendix.
18. H E C L A M I N I N G C O M P A N Y
As of Q4/14:
75% completed
$165 million spent
Excavation completed
Q3/15
Operational shaft
expected in Q3/16 at a
total cost of $215 million
On schedule and on
budget
#4 Shaft: Expected to Grow Production 60%
18
7580 Level
Current
Excavation
19. H E C L A M I N I N G C O M P A N Y
Casa Berardi: Great New Addition
19
Gold Production
Cash cost, after by-product
credits, per gold oz1
2014 Actual 128,244 oz $826/oz
2015E 130,000 oz $825/oz
2015E Capital $44M Ownership June 2013
2P Reserves 1.3 Moz gold @ 0.14 oz/t
M+I Resources 1.4 Moz gold @ 0.12 oz/t
1. Cash cost, after by-product credits, per gold ounce represents a non-U.S. Generally Accepted Accounting Principles (GAAP) measurement, a reconciliation of which to cost of
sales and other direct production costs and depreciation, depletion and amortization, the most comparable GAAP measurements, can be found in the Appendix.
20. H E C L A M I N I N G C O M P A N Y
Casa Berardi: Exploration Upside
20
Composite Longitudinal Section
21. H E C L A M I N I N G C O M P A N Y
21
Casa Berardi: Increasing Resources
985 Level
123 Zone
113 Zone
Southwest
Zone
124 Zone
4.0 gpt Au/4.6 m
15.8 gpt Au/4.5 m
New Zone 117 118 Zone
22. H E C L A M I N I N G C O M P A N Y
San Sebastian: Near-Term Growth Opportunity
Mined 11.6 million oz Ag and 177,541 oz
Au from 2001-05
Total inferred resources 46% to 37.7
Moz AgEq in 2014
Total inferred resources 18% to 34.9
Moz AgEq in 2015
Near surface, high-grade veins
discovered
3.7 miles of strike length so far: open
along strike and at depth
PEA underway
22 Note: Metal price assumptions used for calculations: Au $1,300/oz, Ag $20/oz, Zn $0.90/lb, Pb $0.95/lb, Cu $3.00/oz; USD/CAD assumed at par.
1. See resource data in appendix.
Could Potentially Become a 100M AgEq oz. District
23. H E C L A M I N I N G C O M P A N Y
San Sebastian: Significant New Discoveries
5000
1 : 500
Approximate Scale
Focus
Area
SAN SEBASTIAN
CONCESSIONS
LEGEND
New Veins
Past Producing Veins
Aerial View Looking West
23
24. H E C L A M I N I N G C O M P A N Y
San Sebastian: High Grade Near Surface
0 500
SW NE
Feet
MIDDLE VEIN
HUGH ZONE
NORTH VEIN
EAST FRANCINE
24
3D Cross Section Vein
328 ft
Surface to 328 feet (100 meters):
Silver Equivalent (Oxide)
• 16.2 million ounces indicated resources
• average grade of 0.11 oz/ton gold and 11.3
oz/ton silver.
FRANCINE
2014 silver equivalent calculation based on the following prices: $1300/oz Au, $20/oz Ag, $0.95/lb Pb, $0.9/lb Zn, $3.0/lb Cu.
25. H E C L A M I N I N G C O M P A N Y
23.0 Moz
34.5 Moz
2013 2014
Financial Strength: 2014 Highlights
25
1. Production increased principally due to acquisition of Casa Berardi mine and 12 months full operation at Lucky Friday.
2. Adjusted EBITDA is a non-GAAP measurement, a reconciliation of which to net income, the most comparable GAAP measurement, can be found in the Appendix.
3. Cash cost, after by-product credits, per gold or silver ounce represents the most comparable non-GAAP measurement, a reconciliation of which to cost of sales and other direct production costs and
depreciation, depletion and amortization, the most comparable GAAP measurements, can be found in the Appendix.
*% change may differ due to rounding
Silver Equivalent Production1
+50%
2013 2014
Revenue $383 M $501 M +31%
Adjusted EBITDA2 $135 M $174 M +29%
Cash cost, after by-product credits, per silver oz3 $6.84/oz $4.81/oz -30%
Cash cost, after by-product credits, per gold oz3 $951/oz $826/oz -13%
26. H E C L A M I N I N G C O M P A N Y
$1.15
$2.70
$6.84
$4.81
$34.15 $29.41
$14.44
$13.65
$35.30
$32.11
$21.28
$18.46
2011 2012 2013 2014
97%
92%
68%
74%
$886
$952
$898
$635
$826
$412 $339 $377
$560
$436
$1,298 $1,291 $1,275
$1,195
$1,262
Q1/2014 Q2/2014 Q3/2014 Q4/2014 2014
Improving On Already Strong Margins
26
1. Cash cost, after by-product credits, per silver/gold ounce represents a non-U.S. Generally Accepted Accounting Principles (GAAP) measurement, a reconciliation of which to cost of
sales and other direct production costs and depreciation, depletion and amortization, the most comparable GAAP measures, can be found in the Appendix.
2. Realized prices are calculated by dividing gross revenues for each metal by the payable quantities of each metal included in the concentrate and doré sold during the period.
Silver Margins Casa Berardi Margins
47%
32% 26%
30%
35%
27. H E C L A M I N I N G C O M P A N Y
2010 2011 2012 2013 2014
$284 $267
$191 $212 $210
$384
$367
$291
$312 $310
Strong Liquidity
(US$ millions)
27
28. H E C L A M I N I N G C O M P A N Y
Actual
Q4/2014
Cash and cash equivalents $210
Capital lease liability 23
Borrowing, term loans and leases 498
Total debt $522
Net debt $312
Shareholders' equity $1,397
Total capitalization $1,919
Last Twelve Months Adjusted EBITDA
1
$174
Total net debt/adjusted EBITDA 1.79x
Net debt/capitalization 16%
Reasonable Debt Level In Capital Structure
Capitalization Senior notes due in 2021 are the only
substantial indebtedness
Limited covenants
No off balance sheet arrangements
Credit Metrics
Total Net Debt/EBITDA less
than 1.79x
Net Debt/Total Capitalization of
16%
Extended revolving credit
agreement for an additional 2 years
for a total of 4 years
Undrawn
Note: All monetary amounts presented in millions of dollars.
1. Adjusted EBITDA represents a non-GAAP measurement, a reconciliation of which to net income, the most comparable GAAP measurement, can be found in the Appendix.
28
29. H E C L A M I N I N G C O M P A N Y
29
High Yield is “Good” Debt
Growth
Flexibility
Low cost
capital
Long term
borrowings
Purchased Casa Berardi, a long life gold mine
No restrictive financial covenants
6.875% coupon or ~5% after tax
Zero repayment obligations until 2021
$500M in high yield notes gives us:
Minimal
dilution
A benefit for shareholders
30. H E C L A M I N I N G C O M P A N Y
Diversified Revenue - Silver, Gold, Lead and Zinc
Diversified revenue - 3 mines
(silver, gold, lead and zinc)
Hedge up to 60% of the next 3
years of lead and zinc payable
production (currently 31% of zinc
at $0.98/lb and 28% lead at
$1.05/lb)
Currently ~$156 million sold, or
approximately 1 year of operating
expenses at Greens Creek and
Lucky Friday
NO LONG TERM HEDGING OF
GOLD AND SILVER!
Consolidated Revenue by Metal
2014
#1 Silver and #3 Lead and Zinc Producer in the U.S.
31%
40%
12%
17%
Silver Gold Lead Zinc
30
31. H E C L A M I N I N G C O M P A N Y
Zinc Supply Shortage Expected
Hecla is the 3rd largest zinc supplier in the US
Demand is expected to exceed mine production around 2017
31
Source: Wood Mackenzie June 2014
Annual
Mine
Capacity
(MT)
Perseverance 115K
CLOSED
(2013)
Brunswick 240K
CLOSED
(2013)
Century 510K
EXPECTED
TO CLOSE
(2015)
Lisheen 175K
EXPECTED
TO CLOSE
(2015)
Major Mine Shutdowns
Zinc production expected to
decrease by 685KT by 2016
32. H E C L A M I N I N G C O M P A N Y
32
Hecla is Undervalued
P/CF - 2015
Valuations based on prices as of February 24, 2015. Source – Bloomberg. EV/Reserves and EV/Production are based on company guidance and public filings. NAV’s are an
exhaustive compilation of analyst estimates by Hecla.
5.1x
8.8x
10.0x 10.1x
10.5x
13.0x
13.6x
16.8x
Average, 11.0x
Silver Standard Endeavor Silver Pan American Hecla ‐ Consensus First Majestic Coeur Fortuna Tahoe
Silver PeersHecla
% Undervalued Per
Consensus Estimates
P/CFPS – 2015 -8%
EV/PRODUCTION (Silver Eq.) -5%
EV/RESERVES (Silver Eq.) -38%
33. H E C L A M I N I N G C O M P A N Y
What Differentiates Hecla From Its Peers
33
Quality assets and strong reserves – no impairments or write-downs
of our properties
Our mines are strong cash flow generators
All our mines and pre-development projects have further upside
Financially strong
Undervalued
34. H E C L A M I N I N G C O M P A N Y
Appendix Table of Contents
34
Appendices
Page
1. Management 35
2. Greens Creek 36
3. Lucky Friday 40
4. Casa Berardi 42
5. Exploration/Pre-Development 44
6. Silver and Gold Overview 48
7. Zinc Overview 52
8. Reserves & Resources 53
9. Financial Information 57
35. H E C L A M I N I N G C O M P A N Y
35
The Team: 300+ Years of Experience
Appendix 1
36. H E C L A M I N I N G C O M P A N Y
Greens Creek: Consistent, Low Cost Production
36
1.80 Moz 1.79 Moz
1.69 Moz
1.89 Moz
2.46 Moz
$5.15/oz
$1.58/oz
$3.52/oz $3.75/oz
$2.74/oz
$0
$1
$2
$3
$4
$5
$6
$7
$8
$9
$10
$11
$12
0.0
0.5
1.0
1.5
2.0
2.5
3.0
Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014
CashCost,AfterBy-productCredits,PerSilver
Ounce
SilverProduction(Moz)
Silver Production Cash Cost, After By-Product Credits, Per Silver Ounce*
* Cash cost, after by-product credits, per silver ounce represents, a non-U.S. Generally Accepted Accounting Principles (GAAP) measurement, a reconciliation of which to cost of sales
and other direct production costs and depreciation, depletion and amortization, the most comparable GAAP measurements, can be found in the Appendix.
Historical Production Past 25 Years
Silver Production:
191.4 Moz (7.68 Moz avg/yr)
Zinc Production:
1.4 M tons (56k tons avg/yr)
Gold Production:
1.4 Moz (60k avg/yr)
Lead Production:
0.5 M tons (20k tons avg/yr)
Appendix 2
37. H E C L A M I N I N G C O M P A N Y
37
Hawk Inlet
Marine Terminal
(Cannery)
Tailings
Facility
“B” Road
“A” Road
Young Bay
920 Portal Site
Auke Bay
Juneau
Admiralty Island
Douglas Island
Greens Creek - Location and Layout
Appendix 2
38. H E C L A M I N I N G C O M P A N Y
38
Overview - Greens Creek Surface Exploration
Drill holes
Surface
Appendix 2
39. H E C L A M I N I N G C O M P A N Y
Greens Creek: Advancing Killer Creek
39
A A’
Drilling has defined copper, silver, zinc, lead bearing stockwork veins
Drilling has defined base metal mineralization at mine contact
Mineralization within 1 mile of mine infrastructure
Azimuth 51
Appendix 2
40. H E C L A M I N I N G C O M P A N Y
Lucky Friday: It’s Back!
40
1. Lucky Friday operating at full production.
* Cash cost, after by-product credits, per silver ounce represents a non-U.S. Generally Accepted Accounting Principles (GAAP) measurement, a reconciliation of which to cost of sales
and other direct production costs and depreciation, depletion and amortization, the most comparable GAAP measurements, can be found in the Appendix.
1.5 Moz
3.2 Moz
$19.21/oz
$9.44/oz
$0
$5
$10
$15
$20
$25
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
2013 2014
CashCost,AfterBy-ProductCredits,PerSilverOunce
SilverOuncesProduced(Moz)
Silver Production Cash Cost, After By-Product Credits, Per Silver Ounce *
1
Appendix 3
41. H E C L A M I N I N G C O M P A N Y
41
Top of shaft at 4900 feet below
surface, bottom at 8800 below surface
#4 Shaft is 5,000 feet northwest of the
Silver Shaft
Work began Q4 2009 with lateral
development
Hoisting facility complete Q4 2011
Completion forecast - $215 million
and Q3 2016
Includes $17 mm of cost contingency
Includes 72 days of schedule contingency
Lucky Friday #4 Shaft: Progressing Well
Appendix 3
42. H E C L A M I N I N G C O M P A N Y
Casa Berardi: A Hecla Mine Delivering Improved Performance
42
32 koz
31 koz
29 koz 29 koz
39 koz
$824/oz
$886/oz
$952/oz
$898/oz
$635/oz
0
5
10
15
20
25
30
35
40
45
Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014
$0
$100
$200
$300
$400
$500
$600
$700
$800
$900
$1,000
CashCost,AfterBy-ProductCredits,PerGoldOunce
GoldProduction(koz)
Gold Production Cash Cost, After By-Product Credits, Per Gold Ounce*
* Cash cost, after by-product credits, per silver ounce represents a non-U.S. Generally Accepted Accounting Principles (GAAP) measurement, a reconciliation of which to cost of sales
and other direct production costs and depreciation, depletion and amortization, the most comparable GAAP measurements, can be found in the Appendix.
Appendix 4
43. H E C L A M I N I N G C O M P A N Y
Casa Berardi - Located In A Golden Neighborhood
43
Appendix 4
44. H E C L A M I N I N G C O M P A N Y
44
San Sebastian: Successful 2014 RAB Drilling
Appendix 5
45. H E C L A M I N I N G C O M P A N Y
San Sebastian North Vein Intersection
SW NE
13.3 ft,
0.08 opt Au, 2.0 opt Ag
SS-525
SS-523
EXT
SS-524
EXT
SS-521
EXT SS-536 SS-532 SS-552 SS-590
12.6 ft,
0.10 opt Au, 4.4 opt Ag
16.2 ft,
0.19 opt Au, 4.4 opt Ag
14.7 ft,
0.08 opt Au, 2.2 opt Ag
11.3 ft,
0.06 opt Au, 3.7 opt Ag
12.2 ft,
0.05 opt Au, 5.6 opt Ag
10.9 ft,
0.02 opt Au, 3.3 opt Ag
45
(Looking NW)
Appendix 5
46. H E C L A M I N I N G C O M P A N Y
BulldogBulldog
EquityEquity
AmethystAmethyst
Bulldog
Equity
Amethyst
San Juan Silver (Colorado)
Includes historic Bulldog mine:
produced 25 million ounces of silver
before closing in 1985
7.6 million ounces of silver
indicated resources¹
33.1 million ounces of silver inferred
resources
Bulldog decline has broken through
to previous underground workings
Rehabilitation of old workings
dependent on permits, available
cash flow and priority of other
opportunities
46
21 Square Mile
Land Package
Bulldog Surface Infrastructure
1. See resource data in appendix
Appendix 5
47. H E C L A M I N I N G C O M P A N Y
47
Good Early Stage Exploration Potential
Heva (Au): 100% Hecla:
$0.7M proposal
20 holes, 6,750 m
Extend high-grade resource
blocks and change perception.
Fayolle JV (Au): $0.5M
proposal
24 holes, 8,100 m proposal
Test the Cinco and Paré areas
for new deposits.
Opinaca (Au) JV-Earn in
(Au): $1.2M proposal
12 holes 3,000 m + geophysics
and fieldwork program.
Appendix 5
48. H E C L A M I N I N G C O M P A N Y
0
500
1,000
1,500
2,000
2,500
3,000
TonnesGold(thousands)
Total Known ETF
Holdings of Gold
Gold & Silver: Physical vs. Financial
48
Appendix 6
Gold demand in China & India has
moderated as the price has stabilized
in 2014¹
EAST WEST
Sales of Gold by ETFs is significantly
lower than in 2013²
vs.
1. Source: World Gold Council
2. Includes: Gold Bullion Securities (London & Australia) , SPDR® Gold Shares (formerly streetTRACKS Gold Shares), NewGold Gold Debentures, iShares Comex Gold Trust, ZKB Gold
ETF, GOLDIST, ETF Securities Physical Gold, ETF Securities (Tokyo), ETF Securities (NYSE), XETRA-GOLD, Julius Baer Physical Gold, Central Fund of Canada and Central Gold
Trust, Swiss Gold, iShares Gold Bullion Fund, Sprott Physical Gold Trust, ETF Securities Glitter, Mitsubishi Physical Gold ETF, CS ETF II and Dubai Gold Securities.
-
200
400
600
800
1,000
1,200
2009 2010 2011 2012 2013
GoldTonnes
Net Imports (China)
Source: Bloomberg, Source: Bloomberg
49. H E C L A M I N I N G C O M P A N Y
Silver - The Metal of This Age
Has the highest electrical conductivity of all the metals
80% more conductive than aluminum
50% more conductive than gold, 6% more conductive than copper
Critically important in the miniaturization of circuits as electronic items
become increasingly compact and users expect more power or utility
Has superior thermal conductivity
Transfers heat efficiently; doesn’t overheat
Highest reflectivity (94%) in visible light of the metals
Gold 72%, Aluminum 92%
Source – The Silver Institute 201149
Appendix 6
50. H E C L A M I N I N G C O M P A N Y
49%
5%
23%
22%
1%
36%
29%
30%
5%
Increasing Share of Modern Demand
50
Modern Investment Jewelry &
Silverware
Photography Coins & Medals
1992 2013
Source - GFMS
Modern demand increased from 260 M oz in 1992 to 537 M oz in 2013, an
increase of 106%, and an annualized increase of 4.0%
Modern Modern
Appendix 6
51. H E C L A M I N I N G C O M P A N Y
Silver Consumption per Capita Increases
United
States
China
India
Japan
Germany
South
Korea
-
0.10
0.20
0.30
0.40
0.50
0.60
0.70
0.80
(10,000) 10,000 30,000 50,000 70,000
SilverOuncePerCapita
1990 GDP Per Capita (2000 US$)
United
States
China
India
Japan
Germany
South
Korea
-
0.10
0.20
0.30
0.40
0.50
0.60
0.70
0.80
(10,000) 10,000 30,000 50,000 70,000
SilverOuncePerCapita
2010 GDP Per Capita (2000 US$)
Increasing Silver Consumption Per Person in China and India
51
Source – World Bank, GFMS 2011
Size of bubbles indicate relative consumption per person
Appendix 6
52. H E C L A M I N I N G C O M P A N Y
Zinc Supply - US Production
Hecla is the 3rd largest zinc producer in the US
52
Source: Wood Mackenzie 2014
Appendix 7
% of USA Zinc Production 2013
125
87
56
Lundin Hudbay Hecla
ZincProduction(thousandstonnes)
Comparison of 2013 Zinc Production
Doe Run
3.92%
East
Tennessee
Mines
9.37%
Gordonsville
6.61%
Greens
Creek
6.90%
Lucky
Friday
0.45%Red Dog
72.75%
53. H E C L A M I N I N G C O M P A N Y
Added 240 million Ounces of Reserves Over Past 11 Years1
1. See Proven and Probable reserves data in the Appendix.
53
173 Moz
114 Moz
(150)
(100)
(50)
0
50
100
150
200
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Silver Ounces
Millions
11-Year Reserves and Cumulative Ounces Mined
Lucky Friday reserves Greens Creek reserves
Lucky Friday production Greens Creek production
Discovered or Acquired 240 Moz Over the Past 11 Years
Reserve
Additions
Cumulative
Production
240MillionOunces
Appendix 8
54. H E C L A M I N I N G C O M P A N Y
Proven & Probable Reserves
54
(a) Mineral reserves are based on $1225 gold, $17.25 silver, $0.95 lead, $0.90 zinc and $3.00 copper, unless otherwise stated.
(1) Mineral reserves are based on $1225 gold and a US$/CAN$ exchange rate of 1:1.1. Reserve diluted to an average of 23.7% to minimum width of 3 meters.
Open pit mineral reserves of the East Mine were estimated in August 2013 based on $1300 gold and a US$/CAN$ exchange rate of 1:1. Reserve diluted to 20%.
Open pit mineral reserves of the Principal Mine were estimated in February 2011 based on $950 gold and a US$/CAN$ exchange rate of 1:1. Reserve diluted to 10%.
Proven Reserves
Silver Gold Lead Zinc Silver Gold Lead Zinc
Asset Location Ownership Tons (000) (oz/ton) (oz/ton) % % (000 oz) (000 oz) Tons Tons
Greens Creek (a) United States 100.0% 4.7 15.7 0.10 3.7 9.2 74 0.5 180 440
Lucky Friday (a) United States 100.0% 3,840 13.7 - 8.3 2.6 52,556 - 318,610 98,230
Casa Berardi (1) Canada 100.0% 1,606 - 0.15 - - - 237 - -
Total…………… 5,450 52,630 238 318,790 98,670
Probable Reserves
Silver Gold Lead Zinc Silver Gold Lead Zinc
Asset Location Ownership Tons (000) (oz/ton) (oz/ton) % % (000 oz) (000 oz) (Tons) (Tons)
Greens Creek (a) United States 100.0% 7,691 12.2 0.10 3.1 8.3 93,947 738 240,670 639,490
Lucky Friday (a) United States 100.0% 2,043 12.9 - 7.4 2.2 26,346 - 151,590 44,910
Casa Berardi (1) Canada 100.0% 7,806 - 0.14 - - - 1,100 - -
Total……………… 17,540 120,293 1,838 392,260 684,400
Proven and Probable Reserves
Silver Gold Lead Zinc Silver Gold Lead Zinc
Asset Location Ownership Tons (000) (oz/ton) (oz/ton) % % (000 oz) (000 oz) (Tons) (Tons)
Greens Creek United States 100.0% 7,696 12.2 0.10 3.1 8.3 94,021 739 240,850 639,930
Lucky Friday United States 100.0% 5,883 13.4 - 8.0 2.4 78,902 - 470,200 143,140
Casa Berardi Canada 100.0% 9,412 - 0.14 - - - 1,337 - -
Total……………… 22,990 172,923 2,076 711,050 783,070
Appendix 8
55. H E C L A M I N I N G C O M P A N Y
55
Reserves & Resources Update
(on Dec. 31, 2014 unless otherwise noted)
Measured Resources
Silver Gold Lead Zinc Silver Gold Lead Zinc
Asset Location Ownership Tons (000) (oz/ton) (oz/ton) % % (000 oz) (000 oz) (Tons) (Tons)
Greens Creek (b) United States 100.0% - - - - - - - - -
Lucky Friday (2)(b) United States 100.0% 14,433 5.7 - 3.9 2.2 81,716 - 555,960 316,560
Casa Berardi (3) Canada 100.0% 1,838 - 0.18 - - - 330 - -
Heva (4) Canada 100.0% 5,480 - 0.06 - - - 304 - -
Hosco (4) Canada 100.0% 33,070 - 0.04 - - - 1,296 - -
San Sebastian (5)(b) Mexico 100.0% - - - - - - - - -
Rio Grande Silver (6)(b) United States 100.0% - - - - - - - - -
Star (7)(a) United States 100.0% - - - - - - - - -
Total…………………… 54,821 81,716 1,930 555,960 316,560
Indicated Resources
Silver Gold Lead Zinc Silver Gold Lead Zinc
Asset Location Ownership Tons (000) (oz/ton) (oz/ton) % % (000 oz) (000 oz) (Tons) (Tons)
Greens Creek (b) United States 100.0% 823 11.0 0.12 3.5 8.0 9,062 102 28,720 66,170
Lucky Friday (2)(b) United States 100.0% 7,674 5.6 - 3.9 2.1 43,307 - 299,560 163,250
Casa Berardi (3) Canada 100.0% 9,552 - 0.11 - - - 1,016 - -
Heva (4) Canada 100.0% 5,570 - 0.07 - - - 369 - -
Hosco (4) Canada 100.0% 31,620 - 0.04 - - - 1,151 - -
San Sebastian (5)(b) Mexico 100.0% 2,417 8.2 0.07 - - 19,838 171 14,570 18,980
Rio Grande Silver (6) United States 100.0% 516 14.8 - 2.1 1.1 7,620 - 10,760 5,820
Star (7)(b) United States 100.0% 1,074 3.0 - 6.4 7.6 3,221 - 68,700 81,200
Total………………… 59,246 83,048 2,808 422,310 335,420
Measured & Indicated Resources
Silver Gold Lead Zinc Silver Gold Lead Zinc
Asset Location Ownership Tons (000) (oz/ton) (oz/ton) % % (000 oz) (000 oz) (Tons) (Tons)
Greens Creek (b) United States 100.0% 823 11.0 0.12 3.5 8.0 9,062 102 28,720 66,170
Lucky Friday (2)(b) United States 100.0% 22,107 5.7 - 3.9 2.2 125,023 - 855,520 479,810
Casa Berardi (3) Canada 100.0% 11,391 - 0.12 - - - 1,346 - -
Heva (4) Canada 100.0% 11,050 - 0.06 - - - 672 - -
Hosco (4) Canada 100.0% 64,690 - 0.04 - - - 2,447 - -
San Sebastian (5)(b) Mexico 100.0% 2,417 8.2 0.07 - - 19,838 171 14,570 18,980
Rio Grande Silver (6) United States 100.0% 516 14.8 - 2.1 1.1 7,620 - 10,760 5,820
Star (7)(b) United States 100.0% 1,074 3.0 - 6.4 7.6 3,221 - 68,700 81,200
Total………………… 114,067 164,764 4,738 978,270 651,980
Appendix 8
56. H E C L A M I N I N G C O M P A N Y
56
Reserves & Resources Update
(on Dec. 31, 2014 unless otherwise noted)
Inferred Resources
Silver Gold Lead Zinc Silver Gold Lead Zinc
Asset Location Ownership Tons (000) (oz/ton) (oz/ton) % % (000 oz) (000 oz) (Tons) (Tons)
Greens Creek (b) United States 100.0% 3,452 13.6 0.09 2.8 6.6 46,881 315 97,180 229,240
Lucky Friday (8)(b) United States 100.0% 5,359 7.7 - 5.4 1.8 41,152 - 289,420 98,890
Casa Berardi (3) Canada 100.0% 3,710 - 0.16 - - - 604 - -
Heva (4) Canada 100.0% 4,210 - 0.08 - - - 350 - -
Hosco (4) Canada 100.0% 7,650 - 0.04 - - - 314 - -
San Sebastian (9) (b) Mexico 100.0% 3,721 4.2 0.03 - - 15,744 129 22,550 32,070
Rio Grande Silver (10) United States 100.0% 3,078 10.7 0.01 1.3 1.1 33,097 36 40,990 34,980
Star (11)(b) United States 100.0% 2,957 3.1 - 5.9 5.6 9,128 - 173,500 166,100
Monte Cristo (12) United States 100.0% 913 0.3 0.14 - - 271 131 - -
Total…………………… 35,051 146,273 1,879 623,640 561,280
Appendix 8
Note: All estimates are in-situ except for the proven reserve at Greens Creek which is in a surface stockpile. Resources are exclusive of reserves.
(a) Mineral reserves are based on $1,225 gold, $17.25 silver, $0.95 lead, and $0.90 zinc, unless otherwise stated.
(b) Mineral resources are based on $1,300 gold, $20 silver, $0.95 lead, $0.90 zinc and $3.00 copper, unless otherwise stated.
(1) Mineral reserves are based on $1,225 gold and a US$/CAN$ exchange rate of 1:1.1. Reserve diluted to an average of 23.7% to minimum width of 3 meters.
Open pit mineral reserves of the East Mine were estimated in August 2013 based on $1,300 gold and a US$/CAN$ exchange rate of 1:1. Reserve diluted to 20%.
Open pit mineral reserves of the Principal Mine were estimated in February 2011 based on $950 gold and a US$/CAN$ exchange rate of 1:1. Reserve diluted to 10%.
(2) Measured and indicated resources from Gold Hunter and Lucky Friday vein systems are diluted and factored for expected mining recovery.
(3) Measured, indicated and inferred resources are based on $1,300 gold and a US$/CAN$ exchange rate of 1:1.1. Underground resources are reported at a minimum mining
width of 2 to 3 meters.
Open pit mineral resources of the Principal Mine were estimated based on $950 gold and a US$/CAN$ exchange rate of 1:1.
Open pit mineral resources of the 160 Zone were based on $1,250 gold and a US$/CAN$ exchange rate of 1:1. Resources diluted to 12%.
(4) Measured, indicated and inferred resources are based on $1,300 gold and a US$/CAN$ exchange rate of 1:1. The resources are in-situ without dilution and material loss.
Resource model completed in 2011.
(5) Indicated resources reported at a minimum mining width of 2.0 meters for Hugh Zone and 1.5 meters for Andrea Vein, Middle Vein, and North Vein. East Francine resources
reported at actual vein width.
San Sebastian Hugh Zone also contains 8,400 tons of copper at 1.7% Cu within 492,700 tons of indicated resource.
(6) Indicated resources reported at a minimum mining width of 6.0 feet for Bulldog; resources based on $26.5 Ag, $0.85 Pb, and $0.85 Zn.
(7) Indicated resources reported at a minimum mining width of 4.3 feet.
(8) Inferred resources from Gold Hunter and Lucky Friday vein systems are diluted and factored for expected mining recovery.
(9) Inferred resources reported at a minimum mining width of 2.0 meters for Hugh Zone and 1.5 meters for Andrea Vein, Middle Vein, and North Vein. East Francine resources
reported at actual vein width.
San Sebastian Hugh Zone also contains 18,860 tons of copper at 1.5% within 1,255,100 tons of inferred resource.
(10) Inferred resources reported at a minimum mining width of 6.0 feet for Bulldog, 5.0 feet for Equity & North Amethyst veins; resources based on $1,400 Au, $26.5 Ag,
$0.85 Pb, and $0.85 Zn.
(11) Inferred resources reported at a minimum mining width of 4.3 feet.
(12) Inferred resource reported at a minimum mining width of 5.0 feet; resources based on $1,400 Au, $26.5 Ag.
* Totals may not represent the sum of parts due to rounding.
57. H E C L A M I N I N G C O M P A N Y
57
Cash Cost GAAP Reconciliation
1. Includes all direct and indirect operating cash costs related directly to the physical activities of producing metals, including mining, processing and other plant costs, third-party
refining and marketing expense, on-site general and administrative costs, royalties and mining production taxes, net of by-product revenues earned from all metals other than the
primary metal produced at each unit.
2014 Q4/2014 Q3/2014 Q2/2014 Q1/2014
Cash costs, before by-product credits
(1) 276,842$ 70,189$ 72,083$ 70,051$ 64,519$
By-product credits (223,654) (55,510) (56,523) (56,638) (54,983)
Cash cost, after by-product credits 53,188 14,679 15,560 13,413 9,536
Divided by silver ounces produced 11,065 3,205 2,864 2,509 2,487
Cash cost, before by-product credits, per silver ounce 25.02$ 21.89$ 25.17$ 27.91$ 25.94$
By-product credits per silver ounce (20.21)$ (17.31)$ (19.74)$ (22.57)$ (22.11)$
Cash cost, after by-product credits, per silver ounce 4.81$ 4.58$ 5.43$ 5.34$ 3.83$
Reconciliation to GAAP:
Cash cost, after by-product credits 53,188$ 14,679$ 15,560$ 13,413$ 9,536$
Depreciation, depletion and amortization 72,936 19,230 17,204 19,280 17,222
Treatment costs (82,639) (21,293) (21,430) (20,010) (19,906)
By-products credits 223,654 55,510 56,523 56,641 54,983
Change in product inventory (1,649) (5,617) 6,384 (7,211) 4,795
Reclamation, severance and other costs 2,046 176 959 536 525
Costs of sales and other direct production costs and
depreciation, depletion and amortization (GAAP) 267,529$ 62,678$ 75,200$ 62,649$ 67,155$
Reconciliation of cash cost, after by-product credits, per silver ounce to cost of sales and other direct production costs and depreciation,
depletion and amortization, the most comparable GAAP measurements, for Greens Creek & Lucky Friday
(dollars and ounces in thousands, except per ounce - unaudited)
Appendix 9
58. H E C L A M I N I N G C O M P A N Y
58
Cash Cost GAAP Reconciliation
1. Includes all direct and indirect operating cash costs related directly to the physical activities of producing metals, including mining, processing and other plant costs, third-party refining and marketing expense,
on-site general and administrative costs, royalties and mining production taxes, net of by-product revenues earned from all metals other than the primary metal.
Q4/2014 Q3/2014 Q2/2014 Q1/2014 Q4/2013
Cash costs, before by-product credits(1) 51,828$ 50,415$ 50,405$ 46,599$ 50,906$
By-product credits (45,088) (43,326) (44,459) (43,777) (41,425)
Cash cost, after by-product credits 6,740 7,089 5,946 2,822 9,481
Divided by silver ounces produced 2,459 1,891 1,689 1,787 1,841
Cash cost, before by-product credits, per silver ounce 21.08$ 26.66$ 29.84$ 26.08$ 27.65$
By-product credits per silver ounce (18.34)$ (22.91)$ (26.32)$ (24.50)$ (22.50)$
Cash cost, after by-product credits, per silver ounce 2.74$ 3.75$ 3.52$ 1.58$ 5.15$
Reconciliation to GAAP:
Cash cost, after by-product credits 6,740$ 7,089$ 5,946$ 2,822$ 9,481$
Depreciation, depletion and amortization 16,803 14,716 16,960 15,026 14,149
Treatment costs (17,255) (15,676) (14,993) (15,389) (16,766)
By-products credits 45,088 43,326 44,462 43,777 41,425
Change in product inventory (5,295) 5,966 (7,376) 4,999 (5,133)
Reclamation, severance and other costs 169 909 340 528 634
46,250$ 56,330$ 45,339$ 51,763$ 43,790$
Greens Creek
Costs of sales and other direct production costs and
depreciation, depletion and amortization (GAAP)
Q4/2014 Q3/2014 Q2/2014 Q1/2014 Q4/2013
Cash costs, before by-product credits
(1) 18,361$ 21,668$ 19,646$ 17,920$ 18,766$
By-product credits (10,422) (13,197) (12,179) (11,206) (10,036)
Cash cost, after by-product credits 7,939 8,471 7,467 6,714 8,730
Divided by silver ounces produced 746 973 820 700 642
Cash cost, before by-product credits, per silver ounce 24.62$ 22.27$ 23.95$ 25.62$ 29.22$
By-product credits per silver ounce (13.97)$ (13.56)$ (14.85)$ (16.02)$ (15.63)$
Cash cost, after by-product credits, per silver ounce 10.65$ 8.71$ 9.10$ 9.60$ 13.59$
Reconciliation to GAAP:
Cash cost, after by-product credits 7,939$ 8,471$ 7,467$ 6,714$ 8,730$
Depreciation, depletion and amortization 2,427 2,488 2,320 2,196 2,319
Treatment costs (4,038) (5,754) (5,017) (4,517) (4,002)
By-products credits 10,422 13,197 12,179 11,206 10,036
Change in product inventory (322) 418 165 (204) 1,048
Reclamation, severance and other costs 6 51 43 (3) 92
16,434$ 18,871$ 17,157$ 15,392$ 18,223$
Lucky Friday
Costs of sales and other direct production costs and
depreciation, depletion and amortization (GAAP)
Casa Berardi
2014 Q4/2014 Q3/2014 Q2/2014 Q1/2014 2013 Q4/2013
Cash costs, before by-product credits(1) 106,438$ 25,145$ 26,134$ 27,351$ 27,808$ 59,717$ 26,806$
By-product credits (464) (134) (112) (114) (104) (262) (112)
Cash cost, after by-product credits 105,974 25,011 26,020 27,237 27,704 59,455 26,694
Divided by gold ounces produced 128 39 28,977 28,620 31,260 62,530 32,386
Cash cost, before by-product credits, per gold ounce 829.97$ 638.44$ 901.70$ 955.54$ 889.61$ 954.98$ 827.70$
By-product credits per silver ounce (3.62)$ (3.40)$ (3.87)$ (3.98)$ (3.33)$ (4.19)$ (3.46)$
Cash cost, after by-product credits, per gold ounce 826.35$ 635.04$ 897.83$ 951.56$ 886.28$ 950.79$ 824.24$
Reconciliation to GAAP:
Cash cost, after by-product credits 105,974$ 25,011$ 26,022$ 27,237$ 27,704$ 59,455$ 26,694$
Depreciation, depletion and amortization 38,198 11,562 9,600 8,456 8,581 18,030 11,436
Treatment costs (564) (227) (108) (131) (98) (268) (143)
By-products credits 464 134 112 114 104 262 112
Change in product inventory 3,151 414 2,450 395 (107) (3,766) (723)
Reclamation, severance and other costs 820 199 207 207 205 142 60
Costs of sales and other direct production costs and
depreciation, depletion and amortization (GAAP) 148,043$ 37,093$ 38,283$ 36,278$ 36,389$ 73,855$ 37,436$
Appendix 9
59. H E C L A M I N I N G C O M P A N Y
Hecla Adjusted EBITDA Reconciliation
This presentation refers to a non-GAAP measure of adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”), which is a measure of our operating
performance. Adjusted EBITDA is calculated as net income (loss) before the following items: interest expense, income tax provision, depreciation, depletion, and amortization expense,
exploration expense, predevelopment expense, Aurizon acquisition costs, Lucky Friday suspension-related income, interest and other income (expense), foreign exchange gains and
losses, gains and losses on derivative contracts, and provisional price gains and losses. Management believes that, when presented in conjunction with comparable GAAP measures,
Adjusted EBITDA is useful to investors in evaluating our operating performance. The table above reconciles net income (loss), the most comparable GAAP measurement, to Adjusted
EBITDA.
*Numbers in thousands
59
31-Dec-14 31-Dec-13 31-Dec-14 31-Dec-13
Net income (loss) 12,340$ (2,908)$ 13,259$ (25,130)$
Plus: Interest expense, net of amount capitalized 6,468 7,183 26,775 21,689
Plus/(Less): Income taxes 114 (7,873) (948) (9,795)
Plus: Depreciation, depletion and amortization 30,792 27,903 111,134 81,127
Plus: Exploration expense 4,612 4,991 17,698 23,502
Plus: Pre-development expense 722 1,401 1,969 14,148
Plus: Aurizon acquisition costs - 29 - 26,397
Plus: Aurizon product inventory fair value adjustment - - - 550
Plus/(Less): Lucky Friday suspension-related costs (income) - - - (1,401)
Plus/(Less): Foreign exchange (gain) loss (5,474) (4,043) (11,525) (2,959)
Less: Gains on derivative contracts (11,694) 5,537 (9,134) (17,979)
Plus/(Less): Provisional price (gains)/losses 213 900 2,277 16,955
Plus/(Less): Other 7,797 4,100 22,916 8,142
Adjusted EBITDA 45,890$ 37,220$ 174,421$ 135,246$
Reconciliation of Net Income (Loss) (GAAP) to Adjusted EBITDA (non-GAAP)
Twelve Months EndedThree Months Ended
Appendix 9
60. H E C L A M I N I N G C O M P A N Y
Hecla Adjusted EBITDA Reconciliation
This presentation refers to a non-GAAP measure of adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”), which is a measure of our operating
performance. Adjusted EBITDA is calculated as net income (loss) before the following items: interest expense, income tax provision, depreciation, depletion, and amortization expense,
exploration expense, predevelopment expense, Aurizon acquisition costs, Lucky Friday suspension-related income, interest and other income (expense), foreign exchange gains and
losses, gains and losses on derivative contracts, and provisional price gains and losses. Management believes that, when presented in conjunction with comparable GAAP measures,
Adjusted EBITDA is useful to investors in evaluating our operating performance. The table above reconciles net income (loss), the most comparable GAAP measurement, to Adjusted
EBITDA.
*Numbers in thousands
60
2014 2013 2012 2011 2010
Net Income (Loss) 17,824$ (25,130)$ 14,954$ 151,164$ 48,983$
Plus: Interest expense, net of amount capitalized 26,775 21,689 2,427 2,875 2,211
Plus/(Less): Income taxes (5,240) (9,795) 8,879 81,978 (123,532)
Plus: Depreciation, depletion and amortization 111,134 81,127 43,522 47,066 60,011
Plus: Exploration expense 17,698 23,502 31,822 26,959 21,605
Plus: Pre-development expense 1,969 14,148 17,916 4,446 -
Foreign exchange (gain) loss (11,535) (2,959) 63 216 37
Plus: Aurizon acquisition costs - 26,397 - - -
Less: Lucky Friday supension-related income - (1,401) 25,309 - -
Plus/(Less): Losses (gains) on derivative contracts (9,134) (17,979) 10,457 (37,988) 20,758
Plus: Provision for closed operations and environmental matters - 1,788 1,106 7,004 196,262
Plus/(Less): Provisional price (gains) losses 2,277 16,955 (3,820) 2,611 (11,817)
Other 22,647 6,324 4,187 2,024 3,084
Adjusted EBITDA 174,415$ 134,666$ 156,822$ 288,355$ 217,602$
Reconciliation of Net Income (Loss) (GAAP) to Adjusted EBITDA (non-GAAP)
Twelve Months Ended December 31,
Appendix 9
61. H E C L A M I N I N G C O M P A N Y
Date Gross Current
Issuer Issued Coupon Maturity Proceeds
1
Rating
Hecla 12-Apr-13 6.875% Sr. Unsecured 1-May-21 $500 B3/B
AuRico Gold 17-Mar-14 7.750% Sr. Secured 1-Apr-20 $315 B3/B
Coeur 24-Jan-13 7.875% Sr. Unsecured 1-Feb-21 $450 B3/B+
Eldorado Gold 10-Dec-12 6.125% Sr. Unsecured 20-Dec-20 $600 Ba3/BB
IAMGOLD Corp. 14-Sep-12 6.750% Sr. Unsecured 1-Oct-20 $650 B1/BB-
New Gold 8-Nov-12 6.250% Sr. Unsecured 15-Nov-22 $500 B2/BB-
2-Apr-12 7.000% Sr. Unsecured 15-Apr-20 $300 B2/BB-
Allied Nevada Gold 18-May-12 8.750% Sr. Unsecured 1-Jun-19 $400 Caa2/CCC+
Hudbay Minerals 6-Sep-12 9.500% Sr. Unsecured 1-Oct-20 $920 B3/B-
Fresnillo 7-Nov-13 5.500% Sr. Unsecured 13-Nov-23 $800 Baa2/BBB
HL: No Debt Repayment Obligations Until 2021
Peer Comparison
1. In millions
Source: Bloomberg
61
Appendix 9