Hecla Mining to Acquire Alexco Resource for $72.5M

TL;DR

Hecla's buying Alexco for $72.5M to boost silver ops. Deal expected Q4.

AI Summary

Hecla Mining Company (HL) announced on August 6, 2024, that it has entered into a definitive agreement to acquire all of the outstanding shares of common stock of Alexco Resource Corp. for approximately $72.5 million in cash and stock. The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions and regulatory approvals.

Why It Matters

This acquisition could significantly expand Hecla's silver production and resource base, potentially increasing its market share and profitability in the silver mining sector.

Risk Assessment

Risk Level: medium — The acquisition involves a significant cash and stock component, and its success depends on regulatory approvals and integration of Alexco's assets.

Key Numbers

• $72.5M — Acquisition Value (Total consideration for Alexco Resource Corp.)

Key Players & Entities

• Hecla Mining Company (company) — Acquiring company
• Alexco Resource Corp. (company) — Target company
• $72.5 million (dollar_amount) — Acquisition price
• August 6, 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
• $0 — shares of common stock in the amount of $0.01375, to shareholders of record as of
• $0.875 — lso announced it declared a dividend of $0.875 on its Series B Cumulative Convertible

Filing Documents

• hl20240806_8k.htm (8-K) — 32KB
• ex_709867.htm (EX-99.1) — 3692KB
• heclalogo.jpg (GRAPHIC) — 5KB
• 0001437749-24-025011.txt ( ) — 4041KB
• hl-20240806.xsd (EX-101.SCH) — 4KB
• hl-20240806_def.xml (EX-101.DEF) — 14KB
• hl-20240806_lab.xml (EX-101.LAB) — 18KB
• hl-20240806_pre.xml (EX-101.PRE) — 14KB
• hl20240806_8k_htm.xml (XML) — 5KB

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On August 6, 2024, Hecla Mining Company (the "Company") issued a news release announcing the Company's second quarter 2024 operating and financial results. The news release is attached hereto as Exhibit 99.1 to this Form 8-K. In accordance with General Instruction B.2 of Form 8-K, the information in this Item 2.02, including Exhibit 99.1, 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 documents 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 Other Events

Item 8.01 Other Events Dividend On August 6, 2024, the Company announced it would pay a dividend on its shares of common stock in the amount of $0.01375, to shareholders of record as of August 26, 2024, payable on or about September 5, 2024. In addition to the common stock dividend, the Company also announced it declared a dividend of $0.875 on its Series B Cumulative Convertible Preferred Stock to shareholders of record as of September 16, 2024, payable on or about October 1, 2024.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 99.1 News Release dated August 6, 2024. * 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). * 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: August 7, 2024 3

View Full Filing

View this 8-K filing on SEC EDGAR