Q3 2024 Hecla Mining Co Earnings Call Transcript
Key Points
- Hecla Mining Co (HL) has a strong leadership team with the appointment of Rob Krcmarov as the new President and CEO, bringing extensive experience in the mining industry.
- The company has world-class assets with reserve lives extending over a decade, particularly at the Lucky Friday mine.
- Hecla Mining Co (HL) is committed to innovation, having implemented advanced mining methods and integrated AI into drilling programs.
- The company has a strong focus on ESG practices, prioritizing safety and environmental stewardship, as demonstrated by their operations at Keno Hill.
- Hecla Mining Co (HL) has significant exploration potential beyond its active mines, with projects like Midas and Aurora in Nevada and exploration in Montana.
- The company experienced unplanned maintenance at the Greens Creek mine, leading to lower production and increased costs.
- Lucky Friday mine faced higher maintenance costs and increased use of contractors, impacting overall costs.
- Keno Hill faced operational challenges due to permitting delays, affecting production and delaying the transition to a new mining method.
- The company has a high leverage ratio, which they aim to reduce, indicating financial constraints.
- Hecla Mining Co (HL) is facing challenges in ramping up production at Keno Hill, with potential risks related to stakeholder relations and cost management.
Thank you for standing by. At this time. I'd like to welcome you to the third quarter, 2024 Hecla Mining Company earnings conference call. After the speaker's remarks, there will be a question and answer session. If you'd like to ask a question during this time, simply press star followed by the number one on your telephone keypad. Thank you. I would now like to turn the call over to Anvita Patil. Please go ahead.
Good morning Adam and thank you all for joining us for Heckler's third quarter, 2024 results conference call, Irita Patel, Vice President of Investor relations and treasurer. Our earnings release that issue yesterday, along with today's presentation are available on our website. On the call is Cassie Boggs, interim President and Chief Executive Officer Rob Krisher of incoming President and Chief Executive Officer Russell Lawler, senior Vice President and Chief Financial Officer, Carloss Zagar, senior Vice President and Chief Operations Officer and Kurt Allen,
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