Day: April 7, 2020

“Production at Parral has increased for 6 consecutive quarters, as it continues to perform well. This quarter we also have the benefit of some copper by-product from the SART as it completed commissioning, which equates to 9,509 silver equivalent ounces.” said Brad Langille, President and CEO. “We anticipate the Parral heap leach will continue to produce residual metal from inventory and provide positive cash flow in the June quarter, while we operate in accordance with the Mexican federal government’s COVID-19 mandate and temporarily suspend non-essential services at Parral.”

Akiba Leisman, Chief Executive Officer of Mako states, “in a time of severe operational stress across our entire industry due to the COVID-19 global pandemic, being granted this additional concession demonstrates Mako’s commitment to Nicaragua for many years to come.”

Coeur Mining, Inc. today announced that it has begun taking steps toward the temporary suspension of active mining and processing activities at its Palmarejo gold-silver complex in the State of Chihuahua, Mexico in accordance with a government-mandated decree in response to the 2019 novel coronavirus. The decree, issued by the Federal government of Mexico, restricts all non-essential business activities through April 30, 2020. The Mexican government provided additional guidance on the decree on April 6, 2020, clarifying that mining does not qualify as an essential business activity.

“Hecla’s quick response to the COVID-19 outbreak began in February and has protected our workforce, enabling them to continue to safely operate our mines,” said Phillips S. Baker, Jr., Hecla’s President and CEO. “While government orders have shut down two mines, our U.S. mines continue to operate as planned. Our balance sheet is strong with over $200 million in cash, and no near-term debt maturities with our revolver debt not due until 2023 and senior notes in 2028. Also, our charitable foundation is stepping up to support the communities we operate in during this time of need.”