Hecla Mining Company has entered into a definitive agreement to sell its wholly owned subsidiary that operates the Casa Berardi gold mine in Quebec to Orezone Gold for total consideration of up to $593 million. The package comprises $352 million in upfront and deferred payments—$160 million in cash and $112 million in newly issued Orezone shares at closing, plus $80 million in cash installments at 18 and 30 months post-closing—and contingent payments of up to $241 million tied to gold prices and future mine permitting and production milestones. The divestiture aligns with Hecla’s strategic pivot to concentrate on its core silver assets and is expected to bolster its balance sheet by reducing debt and freeing capital for reinvestment in higher-margin operations.

In 2025 Hecla achieved silver output of 17.0 million ounces—5 percent above the prior year and at the top end of guidance—with each primary silver mine meeting or exceeding targets. Greens Creek produced 8.7 million ounces of silver and 59,349 ounces of gold; Lucky Friday delivered a record 5.3 million ounces of silver; and Keno Hill contributed 3.0 million ounces of silver. Consolidated gold production reached 150,509 ounces, exceeding the guided range. For 2026, Hecla projects 15.1–16.5 million ounces of silver and 134–146 thousand ounces of gold, underpinned by a near doubling of exploration and pre-development spending to $55 million. Cost guidance anticipates silver all-in sustaining costs of $15.00–$16.25 per ounce and gold AISC of $2,150–$2,350 per ounce, reflecting discipline even at conservative metal price assumptions.

Hecla’s share performance has surged alongside a dramatic climb in silver, with year-to-date gains of 66 percent and a twelve-month jump of 482 percent. In Q3 2025 the company reported revenue of $409.5 million—up 67 percent year-over-year—and net income of $100.6 million, or $0.15 per share. Silver production totaled 4.6 million ounces at an all-in sustaining cost of $11.01 per ounce, translating to negative cash costs of $2.03 per ounce after by-product credits. The strength of the balance sheet, evidenced by revolver repayment and a leverage ratio of 0.3x, combined with diversified revenue from gold, lead and zinc, positions Hecla to capitalize on further upside in silver while mitigating downside risk.