Ihle points to the company's third quarter results as a key component of his bullish thesis. Revenue came in at $199.7 million and net income attributable to shareholders clocked in at $13.5 million, or $0.03 per share, versus revenue of $161.5 million and a net loss attributable to shareholders of $19.7 million, or per share, in the prior-year quarter.
The strong showing came thanks to a 41% year-over-year increase in silver ounces sold, as well as 39% growth in the average realized silver price, with the figures landing at 3.1Moz and $25.32/oz, respectively. "The meaningfully better earnings were a result of the higher revenue figure as cost of sales remained mostly flat," Ihle commented. This performance prompted the company to bump up its consolidated FY20 silver production guidance to 12.8-13.4Moz, compared to the previous guidance of 12.4 – 13.0Moz.repaid its revolver. In Q1 2020, the company drew down $210 million from its credit facility in response to the coronavirus pandemic.
When it comes to Lucky Friday, its mine located in Idaho, management believes it will reach full capacity in Q4 2020 and expects to see production of over 3Moz of silver for FY21. "We note that Hecla believes Lucky Friday can produce about 5Moz annually in three to five years without significant capital outlays. The company is also analyzing other mining methods to improve safety and increase production from the site," Ihle said.
Permabullshit
thanks for this news
Vaccine hopes? Buhahaha! They're not even sure how long vaccine immunity will last.
good luck
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