US precious metals miner Hecla achieved higher silver, lead and zinc production for the third quarter ended September 30, but its gold production decreased by 47% year-on-year to 41 174 oz.
Silver production increased by 9% year-on-year to 3.54-million ounces, while lead output increased by 60% year-on-year to 9 750 t and zinc output by 17% year-on-year to 17 997 t.
“This operating performance, combined with higher silver prices, allowed us to close the quarter with $97-million of cash and cash equivalents while fully repaying our revolving credit facility.
"Given our free cash flow generation, we expect to spend about $5-million more in exploration, and based on our realised silver price for the quarter being above $25, we expect the silver-linked dividend to be triggered,” comments Hecla president and CEO Phillips Baker Jr.