Hecla Mining Company has entered into a definitive agreement to divest its wholly owned subsidiary that operates the Casa Berardi gold mine in Quebec, Canada, to Orezone Gold Corporation for total consideration of up to $593 million. The deal comprises $352 million in upfront and deferred payments—$160 million in cash upon closing, $112 million in Orezone common shares representing 9.9% of the enlarged share base, and $80 million in cash installments at 18 and 30 months post-closing—and contingent payments of up to $241 million linked to gold prices and future production milestones from the Principal and WMCP open pits. The sale advances Hecla’s strategy to refocus on its core silver assets and is expected to bolster its balance sheet and liquidity profile upon closing.

In 2025 Hecla delivered silver production of 17.0 million ounces—5% above the prior year—at the top end of guidance, with Lucky Friday producing a record 5.3 million ounces and Greens Creek contributing 8.7 million ounces. Gold output totaled 150,509 ounces, slightly exceeding the 150,000-ounce target, including 91,160 ounces from Casa Berardi before its sale. Lead and zinc production also rose to 56,130 and 68,558 tons respectively. These results reflect grade improvements—5% higher silver grades at Greens Creek and 9% higher at Keno Hill—and throughput gains at Lucky Friday, where average mill throughput reached 1,170 tons per day.

For 2026 Hecla forecasts consolidated silver production of 15.1–16.5 million ounces and gold production of 134,000–146,000 ounces, anticipating modest grade declines at Greens Creek and Casa Berardi. The company plans a record $55 million investment in exploration and pre-development—nearly double 2025 levels—focused on Nevada projects and its existing silver mines. Total capital expenditure is guided to $255–279 million, including $182–199 million in sustaining capital and $73–80 million in growth capital, with significant allocations to mine development, tailings facility expansions and the Lucky Friday cooling project. Hecla expects silver cash costs, after by-product credits, of negative $1.50 to negative $1.25 per ounce and all-in sustaining costs of $15.00–16.25 per ounce, underpinning its commitment to maximizing free cash flow generation.