Hecla - 500 Beiträge pro Seite

[GoldenCentury]

Jetzt ist es raus, Hecla erst mal ausgesetzt:

Hecla Tenders Offer for Preferred B Shares

COEUR D`ALENE, Idaho, Jun 13, 2002 (BUSINESS WIRE) -- Hecla Mining Company
(NYSE:HL) (NYSE:HL-PrB) today announced its intent to offer to holders of its
Series B Cumulative Convertible Preferred stock to exchange each of their
Preferred shares for seven (7) shares of Hecla Common stock.

The offer will be open for 20 business days from the time the final offer
document has been mailed to preferred shareholders, which is expected to occur
within the next few days.

At yesterday`s closing stock price (June 12, 2002), the offer would compute to
$29.54 in common stock value for each share of Preferred stock, which closed at
$21.95 yesterday, a 35% premium over market value. Hecla Chairman and Chief
Executive Officer Arthur Brown said, "Our board of directors and management
thought long and hard about an offer that would benefit both our common and
preferred shareholders. We believe acceptance of this offer will bring value to
common shareholders by removing the dividend associated with the preferred
stock, which is currently a total of $8 million annually. It will benefit
preferred shareholders by offering them a premium to the market value of their
preferred stock and give them the opportunity to participate in further upside
value through the common stock." Brown continued, "The board of directors makes
the decision each quarter on whether to declare a dividend for the preferred
stock. However, we have many priorities for our cash and do not intend to resume
payment of preferred dividends at this time. We realize the prospect of no
dividends may be untenable for some Preferred B holders, so we feel this offer
is a good opportunity for preferred shareholders to trade out of the Preferred B
stock at a premium." The offer is more than twice the value the Preferred B
shareholders would get if they exercised their right of conversion at the ratio
of 3.2154 common shares (specified in the preferred stock terms) for each
preferred share.

If every preferred shareholder accepts the tender offer, preferred shareholders
would hold about 17.5% of the total percentage of Hecla stock ownership. This is
approximately the same percentage of common stock ownership rights they received
when the preferred shares were originally issued in 1993. Brown said, "Although
this offer is at a discount to the face value of $50 for the preferred shares
when they were originally issued, it is certainly a premium to the low price
they have traded at in the past year. And on a percentage basis, preferred
shareholders will maintain close to the same total ownership of Hecla that they
had when the shares were issued. In the meantime, they were able to collect
about $58 million in dividends since 1993."

Preferred B shareholders will be notified as to the logistics of accepting and
implementing the tender offer with the mailing of the offer document within the
next two weeks.

Hecla Mining Company, headquartered in Coeur d`Alene, Idaho, mines and processes
silver and gold in the United States, Venezuela and Mexico. A 111-year-old
company, Hecla has long been well known in the mining world and financial
markets as a primary silver producer. Hecla`s common and preferred shares are
traded on the New York Stock Exchange under the symbols HL and HL-PrB.

Statements made which are not historical facts, such as anticipated payments,
production, sales of assets, exploration results and plans, costs, prices or
sales performance are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995, and 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, project development risks and ability to raise financing. Refer to
the company`s Form 10-Q and 10-K 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.



NOTICE

This announcement is neither an offer to purchase nor a solicitation of an offer
to sell common or preferred stock of Hecla Mining Company. At the time the offer
is commenced, Hecla Mining Company will file a Tender Offer Statement with the
U.S. Securities and Exchange Commission. The Tender Offer Statement (including
the Offering Circular attached as an exhibit thereto, a related Letter of
Transmittal and other offer documents) will contain important information which
should be read carefully before any decision is made with respect to the offer.
The Offering Circular, the related Letter of Transmittal and certain other offer
documents will be made available to all holders of the Series B Cumulative
Convertible Preferred Stock at no expense to them. The Tender Offer Statement
(including the Offering Circular, the related Letter of Transmittal and all
other offer documents filed with the Securities and Exchange Commission) will
also be available for free at the Securities and Exchange Commission`s web site
at www.sec.gov.



CONTACT: Hecla Mining Company, Coeur d`Alene

Vicki J. Veltkamp, 208/769-4144

http://www.hecla-mining.com

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[GoldenCentury]

DJ. Hecla/Notes Tender-2:Represents 35% Premium Over Mkt Value

COEUR D`ALENE, Jun 13, 2002 (ODJ Select via COMTEX) -- (Dow Jones)--Hecla
Mining Co. (HL) plans to offer to holders of its Series B cumulative convertible
preferred stock seven common shares for each of their preferred shares.

Based on Wednesday`s closing stock price, the offer would amount to $29.54 in
common stock value for each preferred share, which closed at $21.95 yesterday, a
35% premium over market value, Hecla said in a press release Thursday.

New York Stock Exchange-listed shares of Hecla were halted for news at $4.03.
The shares, which closed Wednesday at $4.22, are indicated to resume trading at
$3.80 to $4.20.

(MORE) Dow Jones Newswires 13-06-02

Kurzfristig wird dies erst mal negativ aufgenommen, längerfristig sollten alle davon profitieren. Es ist jedoch vorerst nur ein Angebot, die preffered-Inhaber müssen da erst mal zustimmen!
gc

[GoldenCentury]

70% der Prev.Stocks-Aktionäre haben dem Umtausch zugestimmt:




|




8:55:09 AM EDT - Tuesday, July 23, 2002 Markets open in 34 minutes.






Latest News


Hecla Announces Extension of Exchange Offer for Preferred Stock to July 25, 2002

COEUR D`ALENE, Idaho, Jul 23, 2002 (BUSINESS WIRE) -- Hecla Mining Company
(NYSE:HL)(NYSE:HLPrB) today announced that it will extend the tender period of
its previously announced offer to holders of its Series B Cumulative Convertible
Preferred stock to exchange each of their preferred shares for 7 shares of Hecla
common stock.

The tender period is being extended to allow additional time for holders of
Series B Cumulative Convertible Preferred stock to tender their shares.

As a result of the extension, holders of Series B Cumulative Convertible
Preferred stock will have until 5:00 p.m. New York City time on Thursday, July
25, 2002, to validly tender their preferred shares to Hecla, for which Hecla
will exchange 7 shares of Hecla common stock for each share of preferred stock
tendered. The exchange offer was initially scheduled to expire at 12:00 Midnight
New York City time on July 22, 2002.

According to American Stock Transfer & Trust Company, the Exchange Agent for the
tender offer, as of July 22, 2002, approximately 1.6 million shares of Hecla`s
Series B Cumulative Convertible Preferred stock have been validly tendered and
not withdrawn, representing approximately 70% of the total number of preferred
shares outstanding. Previously tendered shares may be withdrawn until accepted
at termination of the offer.

This press release is neither an offer to purchase nor the solicitation of an
offer to sell any securities of Hecla. Investors are urged to read the relevant
tender offer documents that have been filed with the Securities and Exchange
Commission by Hecla because they contain important information concerning the
offer. You are able to obtain a free copy of the documents filed by Hecla with
the Commission at the Commission`s website at http://www.sec.gov.

Hecla Mining Company, headquartered in Coeur d`Alene, Idaho, mines and processes
silver and gold in the United States, Venezuela and Mexico. A 111- year-old
company, Hecla has long been well known in the mining world and financial
markets as a primary silver producer.

Contact: Vicki J. Veltkamp, vice president -- investor and public relations,
208/769-4144

Hecla`s Home Page can be accessed on the Internet at:
http://www.hecla-mining.com.



CONTACT: Hecla Mining Company

Vicki J. Veltkamp, 208/769-4144

http://www.hecla-mining.com

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Today`s News On The Net - Business Wire`s full file on the Internet

with Hyperlinks to your home page.


Copyright (C) 2002 Business Wire. All rights reserved.

[vomo]

#1 - #3

Wieso ausgesetzt? Wo und ab wann?
Ich sehe bzw. sah bislang in meinen Reuters-Monitoren munteren Handel in den USA und in D. - Leider dem Silberkurs folgend viele Verkäufe.

[antarra]

Guck mal auf das Datum vom Eingangsposting.

[vomo]

My goodness!

[GoldenCentury]

Die neue Börsenregel lautet "Buy on good news"


Hecla Reports Best Quarterly Performance in More Than a Decade, More Production and
Lower Costs; For the Period Ended June 30, 2002

COEUR D`ALENE, Idaho, Aug 1, 2002 (BUSINESS WIRE) -- Hecla Mining Company
(NYSE:HL)(NYSE:HL-PrB) today reported second quarter 2002 net income of $4.8
million, compared to a net loss of $1.6 million in the second quarter of 2001.

Cash flow provided by operating activities increased more than 60% during the
comparative period, from $3.8 million in last year`s second quarter to $6.1
million in the second quarter of 2002. Gross profit more than tripled compared
to the second quarter of 2001, from $2.4 million to $7.9 million in the second
quarter of 2002. For the first six months of 2002, Hecla reported net income of
$5.2 million, compared to net income of $8 million in the first half of 2001.
Last year`s first half was positively impacted by the nonrecurring benefit of a
gain of $13 million on the sale of the majority of Hecla`s industrial minerals
operations.

Arthur Brown, Hecla`s Chairman and Chief Executive Officer, said, "Hecla`s
second quarter 2002 results were the best in recent history. This is further
evidence that Hecla has turned around. We produced more gold than in any other
quarter during Hecla`s 111-year history. Net income from continuing operations
was the highest it`s been for 12 years. We had the highest quarterly precious
metals revenue since 1990 and we had the lowest costs per ounce of silver since
we began calculating it this way in 1986. Obviously, we`re extremely pleased
with the company`s excellent performance this quarter and in the first half of
the year." Brown continued, "Our low-cost operations will keep us on track for
profitability, regardless of the volatility of precious metals prices. We will
continue to work at what we do best...mine gold and silver safely, efficiently
and at a low cost."



Highlights

-- 29% increase in gold production quarter-on-quarter, 41%

increase for the first six months, while maintaining low

production costs

-- Record low silver costs per ounce, with a 39% decrease in the

average total cash cost per ounce of silver quarter-on-quarter

-- Increased 2002 production estimates

-- Gross profit from operations more than tripled

-- Successful tender offer for Hecla`s Preferred B stock

-- Exciting exploration developments

-- Dramatically increased cash and cash equivalents

-- 26% decrease in total debt

Operations

Excellent performance from operations in the first half of the year prompted
Hecla to increase its 2002 production estimates to approximately 215,000 ounces
of gold and 8 million ounces of silver.

In the second quarter, Hecla produced 65,323 ounces of gold, bringing the first
half total to 121,725 ounces of gold produced, a 41% increase over the first
half of 2001. Average total cash costs improved compared to last year, at $131
per ounce of gold for the second quarter and $134 per ounce of gold for the
first half of the year.

The La Camorra operation in Venezuela is the main contributor to Hecla`s gold
segment, producing 45,869 ounces of gold in the second quarter and a total of
86,086 ounces in the first half of the year. La Camorra has become a steady
performer for Hecla, producing at these levels for the past year.

Hecla`s silver production totaled 2.3 million ounces in the second quarter and
4.3 million ounces for the first half of 2002. The average total cash cost per
ounce of silver decreased 39% during the second quarter compared to the same
period last year, from $3.30 per ounce to $2.00 per ounce. For the first six
months, the average total cash cost per ounce of silver was among the lowest in
the industry, at $2.17 per ounce.

Hecla`s Greens Creek mine in Alaska, in which the company holds a 29.73%
interest, produced 1.7 million ounces of silver for Hecla`s account in the first
half of 2002, at an average total cash cost of $1.68, including by-product
credits.

The San Sebastian mine in central Mexico has produced about 1.6 million ounces
of silver during the first six months of the year at just $1.38 average total
cash cost per ounce. San Sebastian`s ore grade has increased since it has been
in full production, and it mined an average grade of nearly 24 ounces of silver
per ton and 0.29 ounce of gold per ton for the first six months of the year.

Hecla`s Lucky Friday mine contributed just over 1 million ounces of silver for
the first half of 2002, at an average total cash cost of $4.29 per ounce,
excluding approximately $0.4 million in costs classified as care-and-maintenance
costs. Costs have continued to decrease at Lucky Friday, and second quarter
costs were reduced to $3.91 total cash cost per ounce, excluding approximately
$0.2 million in costs classified as care-and-maintenance costs. This is a 20%
improvement over the second quarter of last year.

Brown said, "We spent about $6 million on capital expenditures at our properties
during the first six months of the year, and we expect to maintain approximately
that level of expenditures through the remainder of the year."

After factoring in the charge for unpaid preferred share dividends of $2
million, Hecla`s income applicable to common shareholders in the second quarter
of 2002 was $2.7 million, or 4 cents a share, compared to a loss of $3.6
million, or 5 cents a share, for the same period last year. For the first half
of 2002, including $4 million in unpaid dividend charges, Hecla reported income
applicable to shareholders of $1.2 million, or 2 cents a share, compared to $4
million, or 6 cents a share, in the first half of 2001.



Exploration

In June, Hecla reported continued drilling success in central Mexico, at the
Cerro Pedernalillo gold/silver project. Multiple targets have been identified in
the area and Hecla President and Chief Operating Officer Phillips S. Baker, Jr.
said, "Our exploration progress at Cerro Pedernalillo is exciting. Preliminary
evaluation indicates a possible ore shoot there. We will continue our activity
at Cerro Pedernalillo and hope to define an indicated gold and silver resource
by the end of the year. We are intensifying our exploration efforts overall and
expect to spend about $5 million this year on Hecla`s exploration projects."

On June 10, Hecla entered into an agreement on Great Basin Gold`s Hollister
Block deposit in Nevada`s golden Carlin Trend, subject to a final definitive
agreement. The two companies would participate in a 50/50 joint venture
arrangement, where Hecla funds the exploration and development stages of the
underground gold project, and then earns 115% of its investment back before
paying Great Basin Gold a sliding royalty. Baker said, "This is a project that
is low risk in terms of getting our investment back, and the additional
potential there is tremendous. It is another underground, narrow vein,
high-grade deposit that Hecla is expert at developing. The Hollister Block is
exactly the kind of low capital, low risk, high potential return type of project
we do well."



Tender Offer

On June 13, Hecla announced an offer to holders of its Series B Cumulative
Convertible Preferred stock to exchange each of their Preferred shares for 7
shares of Hecla common stock. The offer closed on July 25, 2002. Preliminary
results showed that approximately 1.55 million shares of the Preferred B stock
were tendered, representing approximately 68% of the total number of preferred
shares outstanding. As a result of the exchange, the outstanding shares of
common stock will increase from about 75 million to about 86 million.
Approximately 745,000 shares of the Preferred B stock remain issued and
outstanding. Future annual preferred dividends of approximately $5.4 million
were eliminated by the exchange. Also eliminated were undeclared but accumulated
dividends of approximately $10.9 million. Hecla will be required to take a
one-time noncash dividend charge against earnings in the third quarter in the
amount of approximately $17.6 million as a result of the tender offer. Although
no cash was distributed or debt incurred, accounting principles require the
disclosure and presentation on the income statement of the fair market value of
the additional shares exchanged above the original exchange ratio of 3.2 shares
of common stock for each share of Preferred B stock. This dividend is noncash
and does not impact the total equity on the company`s balance sheet.



Annual Meeting

Hecla held its annual meeting of shareholders on May 10, 2002, at which
Preferred B shareholders elected David J. Christensen and Dr. Anthony P. Taylor
to the board of directors. Shareholders also approved increasing the number of
authorized shares of common stock to 200 million and the selection of BDO
Seidman, LLP as Hecla`s auditor for 2002. The meeting was adjourned until July
18, 2002, at which time shareholders overwhelmingly approved an amendment to the
existing 1995 Stock Incentive Plan, an amendment to the Corporation`s existing
Stock Plan for Nonemployee Directors and an adoption of a Key Employee Deferred
Compensation Plan. About 73% of the shares present at the adjourned meeting were
voted in favor of the three proposals.



Financial

Hecla`s financial condition continues to improve, with a current ratio at the
end of the quarter of 1.4:1 compared to 0.99:1 at December 31, 2001. In
addition, Hecla`s cash position increased to $13.1 million at the end of the
second quarter. As of June 30, 2002, total debt had decreased 26% since the
beginning of the year, to $14.1 million.

During the second quarter, Hecla was notified by the New York Stock Exchange
that the company`s average stock price is within the NYSE`s minimum requirement
and therefore is viewed as "in good standing" with the NYSE.

Hecla Mining Company, headquartered in Coeur d`Alene, Idaho, mines and processes
silver and gold in the United States, Venezuela and Mexico. A 111-year-old
company, Hecla has long been well known in the mining world and financial
markets as a quality silver and gold producer. Hecla`s common and preferred
shares are traded on the New York Stock Exchange under the symbols HL and
HL-PrB.

Statements made which are not historical facts, such as anticipated payments,
production, sales of assets, exploration results and plans, costs, prices or
sales performance are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995, and 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, project development risks and ability to raise financing. Refer to
the company`s Form 10-Q and 10-K 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.

Hecla Mining Company news releases can be accessed on the Internet at:
http://www.hecla-mining.com



HECLA MINING COMPANY

(dollars in thousands, except per share, per ounce

and per pound amounts - unaudited)

Second Quarter Ended Six Months Ended

Highlights -------------------- ----------------

---------- June 30, June 30, June 30, June 30,

Financial Data 2002 2001 2002 2001

-------------- ------- ------- -------- --------

Total revenue $29,348 $25,033 $ 53,139 $ 42,078

Gross profit 7,857 2,358 11,590 3,209

Net income (loss) 4,755 (1,555) 5,241 7,980

Income (loss) from continuing

operations 5,058 (1,288) 6,027 (4,898)

Income (loss) applicable to

common shareholders 2,742 (3,568) 1,216 3,955

Basic and diluted income

(loss) per common share 0.04 (0.05) 0.02 0.06

Cash flow provided by

operating activities 6,056 3,751 6,579 4,008

Sale of Products by Segment

---------------------------

Gold operations $12,037 $11,410 $ 23,310 $ 18,107

Silver operations 16,626 13,151 28,735 22,871

------- ------- -------- --------

Total sales $28,663 $24,561 $ 52,045 $ 40,978

Gross Profit (Loss) by Segment

------------------------------

Gold operations $5,076 $3,108 $ 8,146 $ 4,728

Silver operations 2,781 (750) 3,444 (1,519)

------- ------- -------- --------

Total gross profit $7,857 $2,358 $ 11,590 $ 3,209

OTHER DATA

----------

EBITDA by Segment (1)

---------------------

Gold operations $8,165 $5,866 $ 13,944 $ 9,343

Silver operations 5,823 1,863 9,335 3,631

------- ------- -------- --------

Total EBITDA $13,988 $7,729 $ 23,279 $ 12,974

Production Summary -- Totals

----------------------------

Gold - Ounces 65,323 50,569 121,725 86,152

Silver - Ounces 2,333,573 1,970,062 4,343,571 4,098,457

Lead - Tons 5,298 8,417 9,319 17,446

Zinc - Tons 7,052 5,863 13,367 11,752

Average cost per ounce of

gold produced:

Cash operating costs ($/oz.) 131 131 134 137

Total cash costs ($/oz.) 131 131 134 137

Total production costs

($/oz.) 201 203 204 208

Average cost per ounce of

silver produced(2):

Cash operating costs ($/oz.) 1.90 3.27 2.08 3.22

Total cash costs ($/oz.) 2.00 3.30 2.17 3.23

Total production costs

($/oz.) 3.44 4.71 3.66 4.57

Average Metal Prices

--------------------

Gold - Realized ($/oz.) 304 277 300 278

Gold - London Final ($/oz.) 313 268 302 266

Silver - Handy & Harman

($/oz.) 4.75 4.40 4.63 4.48

Lead - LME Cash (cents/pound) 21.6 22.3 21.4 21.7

Zinc - LME Cash (cents/pound) 36.3 45.3 35.7 44.3

(1) EBITDA represents earnings before interest, income taxes,

depreciation, depletion, amortization and items classified as

other operating expenses not occurring at the operating site. The

company believes EBITDA is helpful in understanding cash flow

generated from operations that is available for income taxes, debt

service, capital expenditures, and other nonsite operating

expenses.

(2) During the second quarter and the first six months of 2002,

approximately $0.2 million and $0.4 million, respectively, of

costs were classified as care-and- maintenance costs and excluded

from the determination of the costs per ounce at the Lucky Friday

mine. Including the care-and-maintenance costs, the cash

operating, total cash and total production costs per ounce total

$1.99, $2.09 and $3.52, respectively, for the second quarter and

$2.18, $2.26 and $3.75, respectively, for the year.

HECLA MINING COMPANY

Consolidated Statements of Operations

(dollars and shares in thousands, except

per share amounts - unaudited)

Second Quarter Ended Six Months Ended

-------------------- ----------------

June 30, June 30, June 30, June 30,

2002 2001 2002 2001

------- ------- ------- --------

Continuing Operations:

Sales of products $28,663 $24,561 $52,045 $40,978

------- ------- ------- -------

Cost of sales and other

direct production costs 14,675 16,832 28,766 28,004

Depreciation, depletion

and amortization 6,131 5,371 11,689 9,765

------- ------- ------- -------

20,806 22,203 40,455 37,769

------- ------- ------- -------

Gross profit 7,857 2,358 11,590 3,209

------- ------- ------- -------

Other operating expenses:

General and administrative 1,767 1,808 3,645 3,322

Exploration 1,206 778 1,730 1,294

Depreciation and

amortization 15 68 67 136

Provision for closed

operations and environmental

matters 148 418 257 991

------- ------- ------- -------

3,136 3,072 5,699 5,743

------- ------- ------- -------

Income (loss) from operations 4,721 (714) 5,891 (2,534)

------- ------- ------- -------

Other income (expense):

Interest and other income 685 472 1,094 1,100

Miscellaneous, net 237 (435) 91 (848)

Interest expense (473) (611) (937) (2,616)

------- ------- ------- -------

449 (574) 248 (2,364)

------- ------- ------- -------

Income (loss) from continuing

operations, before income taxes 5,170 (1,288) 6,139 (4,898)

Income tax provision (112) -- (112) --

------- ------- ------- -------

Income (loss) from continuing

operations 5,058 (1,288) 6,027 (4,898)

Discontinued Operations:

Income (loss), net

of income tax (303) (2) (786) 160

Gain (loss) on disposal,

net of income tax -- (265) -- 12,718

------- ------- ------- -------

Net income (loss) 4,755 (1,555) 5,241 7,980

Preferred stock dividends(1) (2,013) (2,013) (4,025) (4,025)

------- ------- ------- -------

Income (loss) applicable to

common shareholders $2,742 $(3,568) $1,216 $3,955

Basic and diluted income (loss)

per common share:

Income (loss) from continuing

operations after preferred

stock dividends $0.04 ($0.05) $0.03 ($0.13)

Income (loss) from

discontinued operations,

including gain (loss) on

disposal -- -- (0.01) 0.19

------- ------- ------- -------

Basic and diluted income (loss)

per common share $0.04 ($0.05) $0.02 $0.06

======= ======= ======= =======

Weighted average number of common

shares outstanding 75,010 66,839 74,426 66,818

======= ======= ======= =======

(1) For the quarters and six months ended June 30, 2002 and 2001,

preferred stock dividends of $2 million and $4 million,

respectively, were not declared but are included in income (loss)

applicable to common shareholders.

HECLA MINING COMPANY

Consolidated Balance Sheets

(dollars and shares in thousands - unaudited)

Assets June 30, Dec. 31,

-------- 2002 2001

Current assets: -------- --------

Cash and cash equivalents $ 13,073 $ 7,560

Accounts and notes receivable 12,750 6,648

Inventories 14,288 10,868

Other current assets 2,122 1,426

Net assets of discontinued operations 401 2,714

---------- ----------

Total current assets 42,634 29,216

Investments 123 69

Restricted investments 6,375 6,375

Properties, plants and equipment, net 94,049 104,593

Other noncurrent assets 13,047 12,863

---------- ----------

Total assets $ 156,228 $ 153,116

========== ==========

Liabilities

-----------

Current liabilities:

Accounts payable and accrued expenses $ 8,039 $ 7,938

Accrued payroll and related benefits 7,967 7,832

Current portion of long-term debt 6,545 7,043

Accrued taxes 924 787

Current portion of accrued reclamation and

closure costs 6,810 6,026

---------- ----------

Total current liabilities 30,285 29,626

Deferred income taxes 300 300

Long-term debt 7,545 11,948

Accrued reclamation and closure costs 44,925 46,455

Other noncurrent liabilities 6,977 6,823

---------- ----------

Total liabilities 90,032 95,152

---------- ----------

Shareholders` Equity

--------------------

Preferred stock 575 575

Common stock 18,788 18,267

Capital surplus 406,122 404,354

Accumulated deficit (358,940) (364,183)

Accumulated other comprehensive income (loss) (8) 173

Stock held by grantor trust (198) (330)

Unearned stock compensation (25) (6)

Treasury stock

[GoldenCentury]

Wieder gute Meldungen zu Hecla, dazu hält sich der Goldpreis in diesem miesem Szenario prächtig, die 305 hat gehalten, z.Zt. wieder über 306,--

Hecla and Great Basin Ink Final Agreements to Start Development of High-grade Gold
Deposit on Carlin Trend, Nevada

COEUR D`ALENE, Idaho, Aug 6, 2002 (BUSINESS WIRE) -- Arthur Brown, Chairman and
CEO of Hecla Mining Company (NYSE:HL)(NYSE:HLPrB) and Ronald Thiessen, President
and CEO of Great Basin Gold Ltd. (TSX Venture:GBG)(OTCBB: GBGLF) are pleased to
announce that final Earn-In and Joint Operating Agreements were signed today in
connection with a development plan for commercial production of high-grade gold
and silver within Great Basin`s Ivanhoe property in Nevada.

The Ivanhoe property is one of the largest contiguous mineral claim holdings
located on the famous Carlin Trend and is located between the high-grade
underground Midas gold mine owned by Newmont Mining to the north and Barrick
Gold`s rich Meikle and Goldstrike operations to the south.

Within a key portion of the Ivanhoe property known as the Hollister Development
Block, one million high-grade gold equivalent ounces have already been outlined
by Great Basin in the Clementine, Gwenivere and South Gwenivere gold-silver vein
systems. This deposit is contained within an inferred mineral resource of
719,000 tons grading 1.29 oz gold/ton and 7.0 oz silver/ton, as audited by Behre
Dolbear & Company, Ltd. This mineralization has been delineated at the
relatively shallow depth of 500 to 1500 feet from surface and is open at depth.
Hecla and Great Basin believe that there is excellent potential to build
substantial further high-grade gold resources from these and numerous additional
vein structures.

The Agreements provide that Hecla will vest in a 50% working interest in the
Hollister Development Block, subject to a royalty in favor of Great Basin,
providing that Hecla funds a US$21.8 million, two-stage, advanced exploration
and development program, or otherwise achieves commercial production, and issues
4 million Hecla share purchase warrants to Great Basin. Concurrent with and in
proportion to the Hecla warrants, Great Basin will issue 2 million share
purchase warrants to Hecla. Hecla, which has an established track record of
being an efficient underground miner, will manage the exploration, development
and mining operations on behalf of the parties. Current economic modeling
forecasts annual production from the Hollister Development Block to be
approximately 180,000 ounces of gold and 920,000 ounces of silver, at a cash
cost of US$114 per ounce of gold equivalent. Due to the nearby location of
several competing processing plants and the relatively easy access to develop
the high-grade veins, the projected total capital cost of the project (Stage I
and II) is forecast at an exceptionally low US$22 million.

Hecla has already commenced engineering and permitting work to facilitate the
underground drive into the gold veins. Upon receipt of permits, Hecla will
complete the Stage 1 program in about 12 months. To vest in its 50% working
interest, Hecla must proceed to Stage 2 within 60 days and complete the Stage 2
program in approximately the next 12 months. During Phases 1 and 2 and in
commercial production, Hecla will be the operator. A US$50 per ounce sliding
scale Purchase Price Royalty is payable by Hecla at a cash operating profit per
ounce of gold equivalent production within the range of US$100-200 per ounce.
The Royalty will be payable by Hecla commencing at the point it has received a
return of its pre-production expenditures plus 15% for Stage 1 and 2 program
costs. From the recently completed economic assessments, it is estimated that
recovery of the Stage 1 and 2 program costs plus 15% could occur within 9 months
of commencement of commercial production.

Hecla`s Mr. Brown said, "We see this project as one with low risk and extremely
high future potential. At the very least, we would expect to recoup our costs,
and at most, we could find the next major underground gold deposit on the Carlin
Trend."

Great Basin`s Mr. Thiessen stated, "These Agreements with Hecla are the start of
what we know will be a very exciting period at Ivanhoe. We are pleased to have
Hecla, one of America`s most efficient and responsible miners, operate this
project. The Hollister Block at Ivanhoe has all the ingredients for a successful
low-cost gold mine; including location, management and above all, high-grade
gold."

For further details on the respective companies contact Hecla Mining Company
Investor Relations at 208/769-4144 or http://www.hecla-mining.com and Great
Basin at 800/667-2114/604/684-6365 or http://www.hdgold.com.

Hecla Mining Company, headquartered in Coeur d`Alene, Idaho, mines and processes
silver and gold in the United States, Venezuela and Mexico. A 111-year-old
company, Hecla has long been well known in the mining world and financial
markets as a quality silver and gold producer. Hecla`s common and preferred
shares are traded on the New York Stock Exchange under the symbols HL and
HL-PrB.

Statements made which are not historical facts, such as anticipated payments,
production, sales of assets, exploration results and plans, costs, prices or
sales performance are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995, and 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, project development risks and ability to raise financing. Refer to
the company`s Form 10-Q and 10-K 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.

[GoldenCentury]

Weitere gute Nachrichten zu Hecla, daher auch prozentual derzeit bester Wert in NY ($4,22):

Hecla Finalizes Lease On Block B in Venezuela

COEUR D`ALENE, Idaho, Sep 6, 2002 (BUSINESS WIRE) -- Hecla Mining Company
(NYSE:HL)(NYSE:HL-PrB) and CVG-Minerven, the Venezuelan government-owned gold
mining company, have finalized the lease agreement on Block B in Venezuela`s
prolific El Callao gold mining district.

Hecla currently operates the La Camorra gold mine in Venezuela, a low-cost,
high-grade mine that produced more than 86,000 ounces of gold in the first half
of 2002 at an average total cash cost of $134 per ounce. Hecla`s Chairman and
Chief Executive Officer, Arthur Brown, said, "Block B is a very high quality
property with identified resources that contains several promising exploration
targets as well as numerous other historically operated gold mines which have
exciting further potential. Our operations have performed very well in Venezuela
and we look forward to increased production from this country. Block B is an
excellent complement to the La Camorra gold mine and the other exploration
targets we have developed in Venezuela. We see this as a very good opportunity
to grow the company and add to our resource base in the near future."

Block B is a 1,795 hectare land position (approximately seven square miles) in
the heart of the historic El Callao gold district. Included in the land position
are the Chile, Laguna and Panama mines, which produced more than 1.5 million
ounces of gold between 1921 and 1946. These operations were narrow vein,
high-grade underground mines which were shut down due to events surrounding the
end of World War II and technical difficulties. Brown said, "These deposits are
a perfect fit with Hecla`s expertise in hardrock, narrow vein mining. The
Venezuelan government has entered into this agreement with us in order to revive
this historically rich mining area."

Hecla will initially focus on the Chile mine, which produced more than 550,000
ounces of gold at an average ore grade of more than one ounce of gold per ton. A
recent drilling program conducted by CVG-Minerven has already identified a
resource below the old mine workings of approximately 245,000 ounces of gold at
a grade of approximately 21.7 grams of gold per ton (about 0.63 ounce per ton).
Hecla has initiated the permitting process and plans an extensive drilling
program in the fourth quarter to confirm and expand the identified resource.

Hecla has agreed to pay $500,000 upon signing the final agreement. Six months
after signing, Hecla would pay $1.25 million to CVG-Minerven, with an additional
$1 million payment in one year. These payments give Hecla the right to explore
and develop Block B. CVG-Minerven would also receive a sliding royalty of 2% to
3% on any future production from the property.

Hecla Mining Company, headquartered in Coeur d`Alene, Idaho, mines and processes
silver and gold in the United States, Venezuela and Mexico. A 111-year-old
company, Hecla has long been well known in the mining world and financial
markets as a quality silver and gold producer. Hecla`s common and preferred
shares are traded on the New York Stock Exchange under the symbols HL and
HL-PrB.

Statements made which are not historical facts, such as anticipated payments,
litigation outcome, production, sales of assets, exploration results and plans,
costs, prices or sales performance are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995, and 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, exploration risks and results, project
development risks and ability to raise financing. Refer to the company`s Form
10-Q and 10-K 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.

Hecla`s Home Page can be accessed on the Internet at:
http://www.hecla-mining.com