Hecla posts 3rd quarter loss

Hecla posts 3rd quarter loss

Credit: KING

Hecla posts 3rd quarter loss

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by Associated Press

KTVB.COM

Posted on November 5, 2013 at 4:19 PM

COEUR D'ALENE, Idaho -- Hecla Mining Co. is reporting an $8.6 million loss in the third quarter, and blames that on lower prices for precious metals.

The Coeur d'Alene-based company said Tuesday that it expects its fourth quarter financial performance to show improvement.

Hecla reported the $8.6 million loss on third quarter revenues of $106.6 million. That's compared to a $1 million loss on $81.8 million in revenues during the third quarter of 2012.

Despite the losses, Hecla says the re-opened Lucky Friday silver mine in Mullan is meeting expectations.

Silver prices over the summer averaged about $22.22 per ounce, down from $35 an ounce during 2012.

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