Hecla Announces 2023 Production; Silver Production Of 14.3M Ounces Exceeded 2022 Production Of 14.2M Ounces, Despite The Temporary Shutdown At The Lucky Friday Mine Since August 2023
Portfolio Pulse from Benzinga Newsdesk
Hecla Mining Company (HL) reported its preliminary silver and gold production for 2023, with silver production slightly up at 14.3 million ounces despite a temporary shutdown at the Lucky Friday mine. Gold production decreased by 14% due to a transition at Casa Berardi, while Greens Creek saw a 26% increase in gold production. The Lucky Friday mine is expected to ramp up to full production in 2024, and Keno Hill's Bermingham deposit showed strong potential. Hecla aims to produce up to 20 million ounces of silver by 2025, emphasizing silver's role in energy transition.
January 10, 2024 | 9:46 pm
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POSITIVE IMPACT
Hecla Mining's silver production exceeded the previous year's despite challenges, and the company is optimistic about ramping up production and contributing significantly to the silver market, which may positively influence investor sentiment.
The news of exceeding silver production targets and the positive outlook for 2024, including the expected ramp-up of the Lucky Friday mine and the potential of Keno Hill, is likely to be viewed favorably by investors. The emphasis on silver's role in energy transition could also attract interest due to the growing demand for metals in green technologies. However, the decrease in gold production and the past challenges may temper some of the enthusiasm.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100