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Hecla Mining (NYSE:HL) on Wednesday reported a 10% Y/Y production increase to 14.18M oz for FY 2022, driven by a 24% surge at the Lucky Friday mine in Idaho and a 5% gain at the Greens Creek mine in Alaska.
Full-year gold output dropped, as expected, 13% Y/Y to 175.8K oz, as production ended in Nevada, while full-year production of lead rose 12% and zinc was unchanged from 2021.
Q4 production of silver increased 3% Q/Q to 3.66M oz while gold output slipped 2% to 44.7K oz.
The company said development of the Keno Hill mine in Canada’s Yukon remains on schedule and is expected to begin production in Q3 2023.
Hecla (HL) said it could achieve as much as 17M oz of silver production in 2023, with Keno Hill expected to produce more than 2.5M oz of silver, which the company said would make it the largest silver producer in the U.S. as well as Canada.
Hecla Mining’s (HL) outperformance following the Alexco acquisition has left the stock trading at a large premium to net asset value and a slight premium to its historical cash flow multiple, Taylor Dart writes in an analysis published recently on Seeking Alpha.
