Hecla Updates Regarding The Lucky Friday Mine On Previously Reported Fire In The Mine's Secondary Egress, The #2 Shaft
Portfolio Pulse from Benzinga Newsdesk
Hecla Mining Company has updated on the previously reported fire at its Lucky Friday Mine. The fire has been extinguished, normal ventilation has been reestablished, and the workforce has been recalled. However, the incident will suspend production for the rest of 2023. The company does not anticipate a material change to its 2024 consolidated silver production guidance.
September 18, 2023 | 10:16 am
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Hecla Mining Company's Lucky Friday Mine fire has been extinguished and workforce recalled. However, production will be suspended for the rest of 2023. No material change is expected in the 2024 silver production guidance.
The fire at Hecla's Lucky Friday Mine, while now extinguished, will suspend production for the rest of 2023. This could negatively impact the company's short-term revenues and profitability, potentially leading to a decrease in its stock price. However, the company's assertion that there will be no material change to its 2024 silver production guidance may mitigate some of the negative impact.
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