Hecla Enters Into Toll Mining Agreement With Excellon
Hecla Mining Co. (NYSE: HL) says it entered into an agreementwith Excellon Resources Inc. (TSX: EXN) in which sulphide ore from SanSebastian in Mexico would be trucked 26 miles to Excellon’s Miguel Auzaflotation mill facility for processing. Under the deal, Excellon will provide440 tons per day of milling capacity to Hecla, with the mill to eventually beupgraded to include a copper flotation circuit. “This is a significant steptowards extending the life of the San Sebastian mine, and is in keeping withour strategy of maximizing the cash flow and minimizing capital investment byusing third-party facilities,” says Phillips S. Baker, Jr., Hecla’s presidentand chief executive officer. “We will take a bulk sample in the third quarter,and if it is positive, could begin mining sulphide ore next year. San Sebastiansulphides have the potential for five years of mine life and considerableupside with the recent exploration discoveries.”
By Allen Sykoraof Kitco News; asykora@kitco.com
EndeavourSilver Posts Fourth-Quarter Profit
Monday February 26, 2018 09:03
EndeavourSilver Corp. (NYSE: EXK; TSX: EDR) reversed to a profit inthe fourth quarter as output rose and costs fell. Net earnings were put at $2.7 million, or 2cents per share, compared to a loss of $5.2 million, or 4 cents, in the fourthquarter of 2016. Silver production increased 32% year-on-year to 1,436,962ounces, while gold production increased 28% to 14,577 ounces. All-in sustainingcosts decreased 37% to $12.70 per ounces of silver payable, net of goldcredits. “After a tough start to the year in the firstquarter, Endeavour posted three consecutive quarters of improved production,making the fourth quarter our best of the year,” says Bradford Cooke, chief executive officer. “Ore grades andthroughput both improved in the second half. In 2017, silver-equivalentproduction met the low end of our original guidance and the high end of ourrevised guidance, despite overcoming operational challenges at the Guanacevimine.” For full-year2017, net earnings increased148% to $9.7 million, or 8 cents, compared to $3.9 million, or 3 cents, in2016. Silver production decreased 9% to 4,919,788 ounces, while gold productiondecreased 8% to 53,007 ounces.
By Allen SykoraFor Kitco News
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asykora@kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.