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Huckleberries Online

Thu., Aug. 14, 2014, 2:28 p.m.

Hecla Makes Final Cleanup Payment

News Release: "Hecla Mining Company is pleased to announce the Company has fulfilled the Coeur d'Alene Basin Environmental Settlement's financial obligations. The final payment of $41.3 million was made today from the exercise of the remaining outstanding warrants. 'We are pleased to put this litigation completely behind us. With this final payment, we can continue our focus on growing the Company's production and cash flow," said Hecla's President and Chief Executive Officer, Phillips S. Baker, Jr. "Our operations are expected to generate enough cash flow to meet all planned capital, pre-development, and exploration requirements for 2014. So our strong balance sheet with over $200 million in cash and cash equivalents and a revolving credit facility of $100 million is largely available to pursue other value-generating initiatives for our shareholders.'" More here.

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D.F. Oliveria
D.F. (Dave) Oliveria joined The Spokesman-Review in 1984. He currently is a columnist and compiles the Huckleberries Online blog and writes about North Idaho in his Huckleberries column.

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