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Hecla Reports Third Straight Year Of Record Production

Discussion in 'Gold Silver (All things Metal)' started by Scorpio, Jan 10, 2017.



  1. Scorpio

    Scorpio Скорпион Founding Member Board Elder Site Mgr Site Supporter ++

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    Hecla Reports Third Straight Year Of Record Production

    By Kitco News
    Tuesday January 10, 2017 09:08

    Hecla Mining Co. (NYSE: HL) reports 2016 was the company’s third straight year of record output, with production also exceeding guidance. Officials list silver production of 17.2 million ounces, a 48% year-on-year increase; gold production of 233,929 ounces, a 24% increase; silver-equivalent output of 46.1 million ounces, or gold-equivalent production of more than 631,000 ounces, a 23% increase. Lead production increased 6%, although zinc production decreased 2%. “The 17.2 million ounces of silver produced and the 46 million silver-equivalent ounces produced mark the third consecutive year we have broken our 125-year production record, a result of our strategy of investing in organic growth,” said Phillips S. Baker, Jr., president and chief executive officer. “Through the down cycle, we continued to build our production capacity with the start-up of San Sebastian, the development of the pit at Casa Berardi and the construction of the #4 Shaft at Lucky Friday. The performance of these investments plus the ongoing strong performance of Greens Creek allowed Hecla to generate substantial cash flows this year and we expect well into the future.” Fourth-quarter operations turned out 4 million ounces of silver, a 9% year-on-year increase, and 63,149 ounces of gold, up 5% from a year ago.

    By Allen Sykora of Kitco News; asykora@kitco.com

    http://www.kitco.com/news/2017-01-10/Hecla-Reports-Third-Straight-Year-Of-Record-Production.html
     
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  2. Scorpio

    Scorpio Скорпион Founding Member Board Elder Site Mgr Site Supporter ++

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    Endeavour Silver: 2016 Silver-Equivalent Output Within Guidance
    Tuesday January 10, 2016 09:06

    Endeavour Silver Corp.(TSX: EDR; NYSE: EXK) reports a 24% year-on-year decline in 2016 silver production to 5.4 million ounces and a 4% decline in gold production to 57,375 ounces. This was slightly above guidance for gold and slightly below for silver, the company says. Silver-equivalent production totaled 9.7 million ounces at a 75:1 silver-gold ratio, in line with guidance. Silver production in the fourth quarter was 1.1 million ounces and gold output was 11,402 ounces, resulting in silver-equivalent production of 1.9 million. Production fell in 2016 from 2015 “due to our decisions in January to significantly reduce spending on exploration and development in 2016 at low metal prices, which reduced our mine access and therefore metal production,” says Bradford Cooke, chief executive officer. “We reversed those decisions at the end of the second quarter and restarted our exploration and development programs to once again expand resources and access reserves.” Endeavour owns and operates three silver mines in Mexico: Guanaceví, Bolañitos and El Cubo.

    By Allen Sykora of Kitco News; asykora@kitco.com



    Royal Gold Reports Quarterly Gold, Silver Sales
    Tuesday January 10, 2016 09:06

    Streaming and royalty company Royal Gold, Inc. (Nasdaq: RGLD) reports that wholly owned subsidiary RGLD Gold AG sold approximately 53,000 gold ounces and 543,000 silver ounces, related to streaming agreements, during the fiscal 2017 second quarter that ended Dec. 31. The company also had approximately 24,000 gold ounces and 323,000 silver ounces in inventory as of Dec. 31. The average realized gold and silver prices were $1,226 and $17.51 per ounce sold, respectively, compared to $1,329 and $19.52 in the prior quarter. The cost of sales was approximately $373 per gold-equivalent ounce in the second quarter, using the quarterly average silver-gold ratio of approximately 71 to 1, compared to $352 per gold-equivalent ounce in the prior quarter. Also in the second quarter, Royal Gold made its second and final advance payment of $75 million as part of its Rainy River gold and silver stream acquisition. On Jan. 3, the company made its final $10 million advance payment as part of its Wassa and Prestea gold stream acquisition.

    By Allen Sykora of Kitco News; asykora@kitco.com



    Richmont Mines Transferring U.S. Stock Listing To NYSE
    Tuesday January 10, 2016 09:06

    Richmont Mines Inc. (TSX, NYSE MKT: RIC) says it will transfer the listing of its common shares from NYSE MKT to the New York Stock Exchange, expected on Jan. 18 under its current ticker symbol RIC. The shares will continue to trade on the NYSE MKT until the transfer is completed. Richmont's listing on the Toronto Stock Exchange will not be affected by the transfer. To celebrate its new listing, Richmont officials will be ringing the NYSE closing bell on Feb. 16, the company reports.

    By Allen Sykora of Kitco News; asykora@kitco.com



    Osisko Reports Record Gold-Equivalent Ounces In 2016
    Tuesday January 10, 2016 09:06

    Osisko Gold Royalties Ltd’s (TSX, NYSE: OR) preliminary data show a record 38,270 gold-equivalent ounces earned in 2016, which was 25% higher compared to 2015. The company also lists record revenues of $62.7 million in 2016, which was 38% higher compared to 2015. Osiko reports a gain of $15.9 million on sale of equity holdings. “During 2016, we earned record royalty revenue from our strong asset base, and we continued to position the company for future growth through our accelerator/incubator project development model,” says Sean Roosen, chair and chief executive officer.

    By Allen Sykora of Kitco News; asykora@kitco.com





    Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
     
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