Hecla reports first quarter earnings of $12.4M

Hecla Mining Co. reported Tuesday a first-quarter net income of $12.4 million, or 4 cents per share, on revenues of $91.2 million. That’s down from a net income of $43.2 million in the first-quarter of 2011, or 16 cents per share. Work continues on shaft rehabilitation at the Coeur d’Alene company’s Lucky Friday Mine, where the company spent $11.7 million during the first quarter. Production halted at the underground silver mine in January as a result of shaft safety issues identified by federal inspectors. About 1,500 feet of work has been completed on the 6,100-foot long shaft, with the work expected to be finished in December.