Hecla Mining to Acquire Klondex Mines for $375M

TL;DR

Hecla buying Klondex for $375M, boosting gold ops.

AI Summary

Hecla Mining Company announced on July 10, 2024, that it has entered into a definitive agreement to acquire all of the outstanding shares of common stock of Klondex Mines Ltd. for a purchase price of approximately $375 million. The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions.

Why It Matters

This acquisition significantly expands Hecla's gold production and resource base, positioning it as a larger player in the precious metals market.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential overpayment, and unforeseen operational issues at the acquired company.

Key Numbers

• $375 million — Acquisition Price (Total cost for Hecla to acquire Klondex Mines.)

Key Players & Entities

• Hecla Mining Company (company) — Acquiring company
• Klondex Mines Ltd. (company) — Target company
• $375 million (dollar_amount) — Purchase price
• July 10, 2024 (date) — Announcement date
• fourth quarter of 2024 (date) — Expected closing period

FAQ

Key Financial Figures

• $0.25 — ich registered Common Stock, par value $0.25 per share HL New York Stock Exchang

Filing Documents

• hl20240710_8k.htm (8-K) — 32KB
• ex_697144.htm (EX-99.1) — 70KB
• logo.jpg (GRAPHIC) — 10KB
• 0001437749-24-022513.txt ( ) — 274KB
• hl-20240710.xsd (EX-101.SCH) — 4KB
• hl-20240710_def.xml (EX-101.DEF) — 14KB
• hl-20240710_lab.xml (EX-101.LAB) — 18KB
• hl-20240710_pre.xml (EX-101.PRE) — 14KB
• hl20240710_8k_htm.xml (XML) — 5KB

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On July 10, 2024, Hecla Mining Company (the "Company") issued a news release ("Release") announcing certain preliminary production results for the second quarter ended June 30, 2024 and other updates. All measures of the Company's second quarter 2024 production results contained in the Release are preliminary and reflect the Company's expected results as of the date of the Release. Actual reported second quarter 2024 results are subject to management's final review as well as review by the Company's independent registered accounting firm and may vary significantly from current expectations because of a number of factors, including, without limitation, additional or revised information and changes in accounting standards or policies or in how those standards are applied. A copy of the Release is attached as Exhibit 99.1 to this Current Report and is incorporated herein by reference. In accordance with General Instruction B.2 of Form 8-K, the information in Item 2.02, including Exhibit 99.1, is being furnished and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any of the Company's filings or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 99.1 News Release dated July 10, 2024.* 104 Cover Page Interactive Data File (formatted as inline XBRL). * Furnished herewith 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. HECLA MINING COMPANY By /s/ David C. Sienko David C. Sienko Vice President and General Counsel Dated: July 11, 2024 3

View Full Filing

View this 8-K filing on SEC EDGAR