Positive free cash flow generation from all operations for the first nine months

COEUR D'ALENE, Idaho--(BUSINESS WIRE)-- Hecla Mining Company (NYSE:HL) today announced third quarter 2022 financial and operating results.

THIRD QUARTER HIGHLIGHTS

Record throughput at Greens Creek; Lucky Friday produced 1 million silver ounces for two consecutive quarters
Consolidated silver production guidance increased, operating and capital cost guidance maintained
Deferred approximately $24 million in sales at Greens Creek and Lucky Friday to the fourth quarter
Keno Hill has completed 30% of total planned pre-production development as of October 31, 2022
Net loss applicable to common stockholders of $(23.7) million or $(0.04) per share (basic), and adjusted net loss of $(12.0) million or $(0.02) per share1
Adjusted EBITDA of $26.6 million, net debt to adjusted EBITDA ratio of 1.92
All operations free cash flow positive year to date with total cost of sales for silver of $246.4 million and all-in sustaining cost (AISC) per silver ounce of $10.17
$144.7 million in cash and cash equivalents with approximately $260 million in available liquidity
Positive drilling results at Keno Hill and Greens Creek with intercepts in excess of 100 ounces of silver per ton at Keno Hill and wide high-grade intercepts at Greens Creek
Strong safety performance with an all-injury frequency rate of 1.32 for the first nine months, 37% below the U.S. average and an improvement of 19% over the nine-month period in 2021
“Hecla reported another quarter of solid operational performance as Greens Creek achieved its best ever throughput and Lucky Friday's production exceeded 1 million ounces for the second consecutive quarter,” said Phillips S. Baker Jr., President & CEO. “Free cash flow generation was lower for the quarter due to deferral of the sale of about a million ounces of silver and other metals, increased capital investment in our mines, and Alexco acquisition costs. All operations are free cash flow positive year to date and reflect the strong margins at our silver operations despite lower prices and an inflationary environment.”

Baker continued, “Hecla is the United States’ largest silver miner, producing about 40% of all the silver mined. With Keno Hill's pre-production development on plan, we should become Canada's largest silver miner in the next few years.”

FINANCIAL OVERVIEW

"Total cost of sales" as used in this release is comprised of cost of sales and other direct production costs and depreciation, depletion and amortization.

In Thousands unless stated otherwise
Q3-2022 Q2-2022 Q1-2022 Q4-2021 Q3-2021 YTD-2022 YTD-2021

FINANCIAL AND OPERATIONAL HIGHLIGHTS
see & read more on
https://ir.hecla.com/News--Media/news-releases/news-details/2022/Hecla-Reports-Third-Quarter-2022-Results/default.aspx