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Hecla buys Nevada gold mines

UPDATED: Tue., July 24, 2018

Hecla Mining Co.’s Lucky Friday Mine rises against a hillside in Mullan, Idaho, in this Monday, March 13, 2017, photo.. (Jesse Tinsley / The Spokesman-Review)
Hecla Mining Co.’s Lucky Friday Mine rises against a hillside in Mullan, Idaho, in this Monday, March 13, 2017, photo.. (Jesse Tinsley / The Spokesman-Review)

Hecla Mining Co. has finalized the purchase of three Nevada gold mines in a cash-stock transaction.

Hecla bought all of the outstanding shares of Klondex Mines Ltd., of Reno, for $153.2 million and 76 million shares of stock, officials said Tuesday. Through the purchase, the Coeur d’Alene-based company acquired the Fire Creek, Midas and Hollister mines in Nevada.

The three gold mines are underground, narrow-vein mineral properties, which Hecla is an expert at operating, company officials said when the deal was announced in March. The purchase will give Hecla a 110-square-mile land position in Nevada.

Hecla also owns mines in Alaska, Quebec, Mexico and the Lucky Friday Mine in Mullan, Idaho, where union workers are on strike.

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