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anywhere from 15 years to as much as three decades.
On top of that, we’re creating value: improving productivity and safety through game-changing
technological innovation. And we’re developing assets like Rock Creek and Montanore – assets that haven’t received a lot of attention either by the industry or by investors. We’ll be applying new technologies to these as well, advancing those assets in the same way we’ve advanced our long-lived mines. We will continue our aggressive exploration programs, believing that the results we’ll see will indicate a monumental shift in what these assets might be. The relative payoff on the investments we’re making is extraordinary – and we’re able to make those investments with the cash flow we have.
As we strengthen our balance sheet, we will continue to look for opportunities to reduce the cost of borrowing on our $500 million of high-yield debt due in 2021.
THANK YOU
As always, I’d like to thank our employees for a tremendous year. Following a record-breaking performance like 2016 is never easy, but we did it – and exceeded expectations by nearly every measure. I’d also like to acknowledge the leadership of our board of directors, who, with the addition of three new directors in the past year and a half, continue to be a core strength of our company.
I’d also like to thank the National Mining Association for entrusting me with a two-year term as chairman of the board, a term that began in October. It’s an honor to serve an organization that plays such a critical role in the health of our industry. And it’s consistent with Hecla’s commitment to giving back to that industry – and, in turn, to the communities it works so hard to support.
Finally, thank you to our shareholders. With a continued focus on productivity, you can expect Hecla to find even more ways of creating value – and delivering additional high-return investments in our mines.
We are well-positioned for 2018.
Phillips S. Baker, Jr.
president and chief executive officer
March 27, 2018
“WE’RE FOCUSED ON FUNDAMENTALLY IMPROVING THE VALUE PROPOSITION OF
EVERYTHING WE DO.”
HL | 8
Currently being fabricated by Epiroc (Atlas Copco), the Remote Vein Miner uses cutting technology instead of traditional drill-and-blast mining. It’s expected to increase productivity and enhance safety after it arrives at the Lucky Friday mine late in 2019.