Hecla Mining to Acquire Klondex Mines for $437M

TL;DR

Hecla's buying Klondex for $437M to boost silver/gold output.

AI Summary

Hecla Mining Company (HL) announced on February 13, 2025, that it has entered into a definitive agreement to acquire all of the outstanding shares of common stock of Klondex Mines Ltd. for approximately $437 million. The transaction is expected to close in the second quarter of 2025, subject to customary closing conditions.

Why It Matters

This acquisition significantly expands Hecla's silver and gold production base, potentially leading to increased revenue and profitability for the company.

Risk Assessment

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

Key Numbers

• $437M — Acquisition Value (Total price Hecla Mining is paying for Klondex Mines.)

Key Players & Entities

• Hecla Mining Company (company) — Acquiring company
• Klondex Mines Ltd. (company) — Target company
• $437 million (dollar_amount) — Acquisition price
• February 13, 2025 (date) — Announcement date
• second quarter of 2025 (date) — Expected closing date

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 $0.00375, 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

• hl20250213_8k.htm (8-K) — 31KB
• ex_778097.htm (EX-99.1) — 3832KB
• a01.jpg (GRAPHIC) — 8KB
• 0001437749-25-003775.txt ( ) — 4193KB
• hl-20250213.xsd (EX-101.SCH) — 4KB
• hl-20250213_def.xml (EX-101.DEF) — 13KB
• hl-20250213_lab.xml (EX-101.LAB) — 17KB
• hl-20250213_pre.xml (EX-101.PRE) — 13KB
• hl20250213_8k_htm.xml (XML) — 5KB

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On February 13, 2025, Hecla Mining Company (the "Company") issued a news release announcing the Company's fourth quarter 2024 and twelve months ended December 31, 2024 financial and operating 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. On February 13, 2025, the Company announced it would pay a dividend on its shares of common stock in the amount of $0.00375, to shareholders of record as of March 10, 2025, payable on or about March 24, 2025. 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 March 14, 2025, payable on or about April 1, 2025.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 99.1 News Release, dated February 13, 2025.* 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. Dated: February 13, 2025 Hecla Mining Company By: /s/ David C. Sienko David C. Sienko Sr. Vice President & General Counsel 3

View Full Filing

View this 8-K filing on SEC EDGAR