Hecla Mining said its average realized silver price in the second quarter was $16.32 per ounce, 17% lower than the $19.62 price realized in the second quarter of 2014.
The company, which reported its financial results today, reported a net loss of $26.8 million, or $0.07 per share compared to a net loss of $14.5 million last year.
Hecla’s CEO Phillips S. Baker, Jr. says the company can weather declining precious metal prices and more cash flow is on the way.
“Our assets, particularly Greens Creek with its recent improvements in recovery, have allowed us to weather the metals price weakness, and we retain the ability to reduce costs and programs if prices remain weak or go lower,” said Baker in a news release.
“With expected mining at San Sebastian early in 2016, and, combined with the deeper Lucky Friday in three years, we anticipate the addition of significant additional cash flow, further strengthening us going forward.”
The precious metal miner highlighted the following second quarter items:
Photo of silver bars by Brian Shamblen