Hecla Mining Company has entered into a definitive agreement to sell its Casa Berardi gold mine subsidiary in Quebec to Orezone Gold Corporation for total consideration of up to $593 million. The deal comprises $352 million of upfront and deferred payments—$160 million in cash at closing, $112 million in Orezone common shares representing 9.9% of pro forma equity, and $80 million in two cash installments at 18 and 30 months—plus contingent consideration of up to $241 million tied to future gold prices and mine performance. The transaction supports Hecla’s shift toward its core silver portfolio and is expected to strengthen its balance sheet by reducing net debt and freeing capital for exploration and development of its primary silver assets. Closing is anticipated in the second quarter of 2026, subject to customary approvals and regulatory clearances.

For the full year 2025, Hecla delivered record consolidated silver production of 17.0 million ounces, 5% above 2024 and at the top end of guidance. Lucky Friday led growth with 5.3 million ounces, Greens Creek produced 8.7 million ounces, and Keno Hill contributed 3.0 million ounces. Consolidated gold output reached 150,509 ounces, surpassing guidance. Looking ahead to 2026, Hecla forecasts 15.1–16.5 million ounces of silver and 134,000–146,000 ounces of gold. It plans a record $55 million in exploration and pre-development investment—nearly double 2025—while targeting consolidated silver cash costs of $(1.50)–$(1.25) per ounce and all-in sustaining costs of $15.00–$16.25, based on assumed metal prices that remain below current spot levels. Total capital expenditures are projected at $255–$279 million, reflecting modest increases at Greens Creek and Keno Hill and sustaining outlays across all operations.