COEUR D’ALENE, Idaho--(BUSINESS WIRE)--
Hecla Mining Company (NYSE:HL)
today announced that Ressources Quebec, a wholly owned subsidiary of
Investissement Québec, is making a C$40 (US$31.6) million loan
investment in Hecla (“the investment”).
The investment will be in the form of a senior unsecured term loan with
a coupon rate of 4.68%, to mature at the same time as the outstanding
high yield notes, in 37 months. The proceeds are to be used for
development and expansion of the Casa Berardi mine located in the
Abitibi-Témiscamingue region in Quebec.
“Today’s announcement is another example of why Quebec is a leading
mining jurisdiction in North America,” said Phillips S. Baker, Jr.,
Hecla’s President and CEO. “Since we acquired the Casa Berardi mine, we
have seen a significant improvement in its operations, including
doubling the throughput, increased gold production and reserves, and a
70% reduction in the All Injury Frequency Rate. We have also added about
250 workers to the mine since it was acquired, bringing the total to
around 950 currently. We welcome this opportunity to work closer with
the Quebec government as we continue to grow and strengthen the
operation.”
ABOUT HECLA
Founded in 1891,Hecla Mining Company (NYSE:HL)
is a leading low-cost U.S. silver producer with operating mines in
Alaska, Idaho and Mexico, and is a growing gold producer with an
operating mine in Quebec, Canada. The Company also has exploration and
pre-development properties in seven world-class silver and gold mining
districts in the U.S., Canada, and Mexico, and an exploration office and
investments in early-stage silver exploration projects in Canada.
ABOUT INVESTISSEMENT QUÉBEC
Investissement Québec’s mission is to foster the growth of investment in
Québec, thereby contributing to economic development and job creation in
every region. The Corporation offers businesses a full range of
financial solutions, including loans, loan guarantees and equity
investments, to support them at all stages of their development. It is
also responsible for administering tax measures and prospecting for
foreign investment.
Cautionary Statements Regarding Forward-Looking Statements
Statements made or information provided in this news release that are
not historical facts are “forward-looking statements” within the meaning
of the Private Securities Litigation Reform Act of 1995 and
“forward-looking information” within the meaning of Canadian securities
laws. Words such as “may”, “will”, “should”, “expects”, “intends”,
“projects”, “believes”, “estimates”, “targets”, “anticipates” and
similar expressions are used to identify these forward-looking
statements. Such forward-looking statements or forward-looking
information include statements or information regarding silver
production for 2017 on a consolidated basis and at each of the Greens
Creek, Lucky Friday and San Sebastian mines, annual gold production for
2017 at Casa Berardi, and fourth quarter 2017 production. The material
factors or assumptions used to develop such forward-looking statements
or forward-looking information include that 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, to which the Company’s operations are subject.
Forward-looking statements involve a number of risks and uncertainties
that could cause actual results to differ materially from those
projected, anticipated, expected or implied. These risks and
uncertainties include, but are not limited to, metals price volatility,
volatility of metals production and costs, litigation, regulatory and
environmental risks, operating risks, project development risks,
political risks, labor issues, ability to raise financing and
exploration risks and results. Refer to the Company’s Form 10K and 10-Q
reports for a more detailed discussion of factors that may impact
expected future results. The Company undertakes no obligation and has no
intention of updating forward-looking statements other than as may be
required by law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180305006133/en/
Hecla Mining Company
Mike Westerlund, 800-HECLA91 (800-432-5291)
Vice
President, Investor Relations
hmc-info@hecla-mining.com
www.hecla-mining.com
or
Investissement
Québec
Isabelle Fontaine, 514-876-9359
Senior Director, Public
and Governmental Affairs
Isabelle.fontaine@invest-quebec.com
Source: Hecla Mining Company