Hecla Reports First Quarter 2001 Earnings
May 15, 2001
The sale of industrial minerals subsidiaries and record gold production and lower per ounce costs at the La Camorra gold mine in Venezuela led Hecla Mining Co. to first quarter 2001 earnings of $7.5 million, or 11 cents a share. This compares to a loss applicable to common shareholders of $9.3 million, or 14 cents a share, in the first quarter of 2000. Hecla recognized a gain of $13 million on the sale of the Kentucky-Tennessee Clay Co. group during the first quarter. The loss from continuing operations before the gain on the sale and before a $2 million charge for deferred dividends to holders of the preferred stock was $3.6 million, or 5 cents a share, compared to $7 million, or 11 cents a share, in the first quarter of 2000.
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