Why Analysts Believe In 2020 Gold Was Used By Many As A Strategic Asset Versus a Tactical Play - Seite 3

Other recent developments in the mining markets include:

Hecla Mining Company (NYSE: HL) recently announced fourth quarter and full year 2020 financial and operating results.

Highlights were: Fourth quarter sales of $188.9 million; cash flow from operations of $64.9 million; free cash flow $28.3 million net income of $0.8 million; adjusted net income applicable to common shareholders of $13.0 million, or $0.02 per share; and adjusted EBITDA of $55.8 million; 2020 silver production of 13.5 million ounces, up 7% and gold production of 208,962 ounces, down 23%, from 2019, which was Hecla's highest annual gold production; 2020 sales of $691.9 million (the highest in the Company's history); cash flow from operations of $180.8 million; free cash flow of $89.8 million; adjusted net income applicable to common shareholders of $23.1 million, or $0.04 per share; net loss of $16.8 million; and adjusted EBITDA of $224.3 million; Third highest silver and gold reserves in Company's 130-year history despite significant interruptions to 2020 exploration program due to COVID-19; Exploration discoveries at Midas, Casa Berardi, San Sebastian, Heva Hosco, and Kinskuch expect to be further drilled in 2021; Net debt reduction of approximately $81 million, or 17%, from March 31, 2020; Year-end cash position of $130 million, an increase of $67 million from 2019 with the credit facility undrawn; All-Injury Frequency Rate (AIFR) of 1.22 for 2020, lowest in the Company's history and a reduction of 24% over 2019; Lucky Friday returned to full production levels in the fourth quarter of 2020; and Production guidance increases projected silver production over 2020 production.

New Gold Inc. (TSX: NGD) (NYSE American: NGD) recently reported fourth quarter and annual results as of December 31, 2020, achieving the mid-range of the revised annual production and cash cost guidance, with All-in Sustaining Costs ("AISC") below revised annual guidance. An earnings conference call and webcast will begin on February 19, 2021 at 8:30 am Eastern Time to discuss the fourth quarter and year-end financial results (details provided at the end of this news release).

The Company ended the year repositioned for long-term success and is expected to transition to positive free cash flow in 2021. Operational and cost performance has improved, strategic capital projects have been advanced, the balance sheet was restructured, and our liquidity position has significantly improved. The focus in 2021 has now shifted to driving further operational and cost optimizations at Rainy River and advancing B3 and C-Zone development at the New Afton Mine. Exploration drilling programs at Rainy River and New Afton are currently underway that could potentially increase resource inventory and extend mine life as we advance on our growth strategy. New Gold begins 2021 as a much stronger Company with a growing, higher-margin production profile from the Rainy River Mine and the Company now fully benefits from higher gold and copper prices.