Earnings call transcript Q2 2023

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Operator

Hello and thank you for standing by. My name is Regina, and I will be your conference operator today. At this time, I would like to welcome everyone to the Hecla Mining Company Second Quarter 2023 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. Instructions] [Operator

like Investor conference go Relations now Patil, to ahead. turn President, Vice and to would over the Anvita I Treasurer. Please

Anvita Patil

for Treasurer. I'm Anvita Good for Hecla's Vice financial thank and Investor Patil, operations Hecla's Relations of us and and call. morning, XXXX second conference you results President quarter Regina, joining all

presentation, on Hecla's website. Our financial was that available release issued yesterday, are results news along with today's

Operating Vice Officer; Financial President On Russell today's and Hecla's President call, and Hecla's Roberts, Officer. Baker, Senior Chief we Hecla's CEO; Senior and Chief Lawlar, Vice have Lauren and Phil President

cause the Any XX-K team reconciled as forward-looking These statements differ and news XX-Q slides in our Non-GAAP made today measures release. Reform with and X to involve projected and under the by Litigation Private and could filings risks call Act in earnings X are and this risks management other related Securities forward-looking release results in our SEC. slides the the cited in Slides on statements. those from the the shown or in come and

you Event you release was I'd the remind so issued under using a Virtual you can if the earnings to would do by have like link section the call in like our with Investor to management, yesterday. that

I will Phil. call that, pass With to the

Phillips Baker

had Hecla maybe period production good growth Lucky Friday, is but silver because Good Anvita. Casa, safety, is the that restart and years. for remarkable, reserves, at quarter done five cash the production, quarter years combine happening reserves the shows Greens a you because most revenue, This And last Slide when what morning, are pretty and $X.XX that in changes we've last those I'm you is cash over growth maybe think another years. see you three if from in at Creek flow silver over of of can in billion is was at faster free that for what now the mines. Thanks, XX% what everyone. what production, and five in five mill, quarter Keno growth growth that XX% X, Thanks look substantial in call. of the for significant And our the I numbers with our second XX% flow starting of why event joining we the than even saying

whether And mining longer the It's per or producing Greens Lucky respectively, Friday at mill day, hoist X without than tons higher. month no it's XX at and can at XX% the X,XXX of maybe quarter a And operate more now already rate question day. that X,XXX or that maintain tons in rate. we even ounce run can is million question the and of even which this more operation about Creek a a ore fourth the months ago service bunker, is in is per

experiencing and the grade At have – exploration an that ore, discovery of we – given continuous mineralization. the of have we if with teething remarkable look, the the our are district exceptional we have but having problems, we will restart the you recoveries of success Keno,

cash in just So we close positive over should all I flow and production We think this next the growth result share performance. three of growth to years, the reserves And expect performance XX% will our we more years last had this generation. probably that XX% share five XX% see also over in in and – growth year. free

is important It especially from the scale gives the exposure And higher concentrate gold Berardi gold us we and grow. us is our It against silver believe during to gives are reasons. will silver's It be to company with always portfolio. hedges these exposure portfolio volatility, for a important to market. our Now Hecla reasons many recessions. Casa diversification

per As last double, inflation causing than our buttressing. mining and we've Casa other been higher requires are underground costs more half, a grades construction tailings costs it expected, impacted underground sites by indicated to for declined we more because ton as and the year has have

moving the So pit. permitting to while the higher going moment. grade talk about we pits, are we mine to quickly in a more are Casa is Lauren's only XXX

So a now X specifically what move to for comments the I'd like to quarter. Slide do is few on

started half a the was our production that's that the it four production produced and and X.X the even first think last million point Lucky I this quarter evidence now. faster silver growing think of silver out Friday second ounces is I I with of we've is than doing With quarter great quarters, the Friday is at produced in to close just context, XXth largest Friday was in in And Lucky Lucky world. mine XX% rate, it's now. that more silver that being And five X.X XXXX, and what the ounces. about put a less million than producing to

at the was Creek's Hill and X.X million to ounces as consistent up well, we by of on the and secondary of proceeding completed improvements grades by course, production The of circuit restarted are And underpinned leading the flow. anticipate of being year-end. better mentioned, $XX cash the we Keno all I Greens full mill modifications restart schedule. crushing performing at And than free and we production modeled, this million performance

focus out risk at the X.XX, mining the company puts was method, reflects accomplishment is lowest safer, safer I in UCB engineering behavior changing are which And out rate best frequency risk. in the injury our places think miners history that that tasks. and example of all-in of the on Our an the engineering doing

property. the can And who at the to is will retire going low Friday. each focused rate Lauren, year, end be of talk more the Lucky about frequency injury will go the We how at on

are Now, growing silver revenues gold. to relative

little and likely bit. a our strengthen revenues silver We are have generation the the operations flow the prices good the I of from more end year. almost XX% quarter, XX% for than of silver have we'll and cash can by think The

our We wildfires half impact the quickly have The for guidance only have the open and production that cost operations. we Russell the but the we to moving should pit fact consolidated and and production guidance, will and of cost better, even second adjusted the production on on Berardi are be based silver more Casa maintained this.

And I'll call the to Russell. pass now,

Russell Lawlar

Phil. as been the Thanks, a leader has start long the Hecla on known miners among U.S. I'll producer. Slide and silver X. largest silver

more mines past we will is see Keno this already where and to $XXX the easy As what at slide, add XX% they've look margin over of profile. at year months, it free flow and our was excited see cash this produced the million to why, Hill this than six are we silver to

well years, Greens Creek a Friday Lucky half of This the $XXX and invest free and reserves silver Hill, we debt as in million anticipate us generated acquire and flow. in improve which more production our mines allowed have invest both metrics. in add and will Over the balance and Keno profile our to grow has production sheet to past exploration to than three as cash our

metals. I'll from strength balance year, quarter Silver first the silver This profile to approximately our XX% revenue of sheet. XX% coming show gold of our for continues half of consistency discuss and our first Slide leads base the accounted me to where and revenues mines in with XX% which revenue from X, and in our the

balance million of liquidity with We had ended and our cash million. quarter of on the $XXX sheet $XXX

since to for the leverage most zinc one flexibility our price than strength objectives. of XXXX. quarter sheet $X.X important net balance its lowest and financial Xx, a the zinc million hedges We also approximately with of of in less point second our declined The April, our monetized ratio remains as

quarter. suspension the we of Canadian wildfires, end into to June third being the in as than quarter, less to the quarter, this is we Keno both at expect of As of Xx the This come these slightly as in were production our continued as Berardi our than due the to will mining Casa of operations goal. I our primarily during well investment mines mine of due due that higher Hill. revert to the

I'll now the turn Lauren. to call

Lauren Roberts

Thanks, Russell.

our vacancy start fill and internally. position steady us me role put will saying in and have have Carlos job. ops and VP it's to Chris satisfying a planning and Let development that great succession that backfill do a by to the hands very

lot hung five spurs next There's for up me, the a in accomplish I haven't As my to months. yet. just

to and And total Creek, another Greens in cash ounces million improved XXXX. turned gravity flow of at $XX plan of production $XX of to in performance for free better turn of solid first more million than I'd and Slide cash with in quarter for X.X our XX. million half the strong cornerstone flow circuit. asset with Gold and like a due ounces free grades to that, range the of XX,XXX silver production

due Both total per due zinc million a to metrics of quarter year. $X.XX per Cash byproduct and spending was zinc million previous was quarter, lower the the Capital primarily in cost higher the the to ounce was slightly for than for quarter $X.XX. are the for $X.X a lower price. $XX credit AISC ounce,

Our guidance. at the million Creek expected million a $XX previous which between capital for is and the year, spend $XX decrease now slight over Greens is

gold planned because capital Creek Greens spend lower our guidance our increasing of are the for lowering We guidance and AISC for sustaining year. the

at XX, AISC ounce X.X of Slide ounces second Lucky of per silver $XX.XX to in million an Friday the Moving produced quarter.

remarkable an at of end XX highest marked the a the all-injury of rate production new a exceeding years, of production past silver quarter quarter in and X achievement. X.XX fifth with ounces, the record This consecutive June, quarterly million safety frequency

at capacity, ore mill our we to adding per the is for ore fourth achieve this to hoisting to projects spending mine was the earlier capacity by ore tons focused to we mine on multiple goal the critical by service XXX,XXX key ore the completed of expected two by and bunker was debottleneck achieving year-end. are service in both the Capital month, year, rate the days, while bunker, hoist which we will our as the hoist, expect the million production production completing anticipate $XX.X The the which quarter. stockpile coarse projects, coarse decouple

half Free of the flow first mines for million year. the the during cash reflecting performance the year was strong generation $XX

$X.X equipment million Agreement, timing and cost to production related of $XX credits per wage of of is silver because zinc $XX.XX This new the guidance, to byproduct target. in for deliveries due development and prices, the capital reiterating to production to increasing sustaining throughput guidance the of increase higher cost to mobile related and are cost but labor the Bargaining in achieve $X zinc We to ounce. the per $X.XX lowers guidance increased to XXXX our higher cash costs sustaining Collective ounce all-in lower increases

our are include We debottlenecking the to increasing which spend, sustaining projects. higher guidance primarily major related two capital is capital to and growth

full the second the in the fourth ore quarter Moving Keno using remain achieve At production now grade to on the for quarter. Hill, we a with portable next milestone mill to track lower restarted XX. operating stockpiled The Slide mill secondary the complete in to crusher. third startup. the while temporary XXX,XXX in improvements, produced mill ounces in is which the quarter crusher quarter. in the We The anticipate we

be We spend to million year, than capital million slightly at the improvements. increased mine no development to $XX for our and to the expect initial due guidance higher $XX

progress by Keno I’m at our encouraged Hill.

advancing have grades for our and zinc. the The process is a is the and then prior While to reconciliation including The very expected. exceeded showing model we more the size, good. second the the map and XX% control, made tons Silver the through quality is performing same well to silver model content as limited better slightly recovery quarter. at are improvements performing fewer lead mill level we sample concentrate of in mill resource target restart, at

the forward quarter expect reliability looking commissioning are the it that efficiency improve circuit in of upgraded third the We secondary circuit. crushing to and to and

with and to the through in in up how headings. The the ore In is incorporated typical that being going and ramp is the learned working the primary ground learning expected, Bear manage more are the requiring mining shock process curve. now mine, Zone are the development we cycle. through into headings the We've an

completed for Our third project key the be year. a we finish and the infrastructure to quarter should strong underground in forward look

excited XX.XX expect and can guidance cost ounces and X.X and the than We million ounce. XXXX. reiterating and I'm the at sustaining mine ounces up future Keno in about all-in to cost between our an per production produce XX.XX X are million more

slide there of a on which pretty most right very a little to in of Bear On XX, XXX impressive. shows are example space, encountering see in the presentation, we components a The hand circuit ounce grades the crusher the the photo excellent is the we but Slide of left hand are discern an you can that's glean and difficult replacing the where lot shows Vein. photo in crusher high is progress our itself. The except secondary

XX. of to was Turning the Abitibi, in road per Casa ounce. the of wildfires cost lower due June. caused of which Slide access quarter produced all-in $X,XXX ounces gold Berardi to Production for at for approximately XX,XXX majority closures sustaining

comments, Berardi and his past years. in said the experienced has Phil Casa several pressure cost As grades declining over head increasing

We noted report, of East Casa careful After an make We future. the Mine and As quarter. the the prepare pit to margin decided future. in technical yield becomes to analysis conducted that a resources in stope underground some during the that changes stope operation by our now did closed evaluation, attractive economics open and it. only reserves better concluded we not remaining for

insourcing For and changes mining on production showed put we more These the XXX begin process the about to of analysis there. mid-XXXX. West attractive made decision the mine, until pit open economics the pressure the the

surface which operators. busy it XX million been and about and delivered, mobile authorized in equipment, has we purchase We are of of training the million XX assembling

our crews and construction of ramp the received, pit through by XXXX. by the we and open being tailings the waste being rock end stripping this the of of directed X to balance to Cell up the calendar mining XXXX. all year produced is Much the equipment is over year take the As of expect of

to reflect We are adjusting guidance our production changes. cost these

Previously, we would mine bridge production get pit our as the until underground act with open to the pits. a with combined grade permits plans higher the modeled the XXX

fully years then, we I With anticipate for a multiple tailing the XXXX Once production which XXXX. possible it mined, will on tailings just facility we about to facility. estimated XXX X the and Until is build as higher long-term it two changes permeating existing our gap, void be Cell not pits. grade storage described, raises between we'll our

of it. ongoing reflected a engineer been for our determined build to has in require height That with buttress our and facility we've will independent of consultation the review that In the record panel, us substantial plans. capital increasing

think phases. way three I that Casa in the I think about

some modest are four returned the resources. next in reserves the make permitted period years, and the Over to produce we'll investments that remaining

we of ore. in the years. builds complete first Then falls and there expected invest the to comes complete the while a operation to flow Once expose free surface the will infrastructure be a equipment necessary investment the and positive and first over in to pits, then quickly generation ore the fully period of higher transition XXXX, and cash that's coming grade the permitting

want the call the significant the pass I Before I on a Casa’s potential emphasize long back large and reserve to package life exploration Phil, to land on break. Casa Berardi

the today back path flow making to are cash free right generation brighter the decisions Casa a to on and We put future.

With to pass the call that, Phil. I'll back

Phillips Baker

Lauren. Thanks,

that XX, the gold increasing reasons guidance. Casa, of Berardi reiterating to production are Capital our Friday million, increase at at the cost Lauren is and are consolidated guidance the and for mostly $XXX year. and AISC our the million three-year for Slide we silver has changes we Turning guidance Casa to to to Lucky With $XXX due revising explained. our production

remarks, XX% that renewable to widely want new and silver the like in demand. of demand and XXX was silver the go the critical of XXX% two used to and in silver technologies the ounces some XXXX, and energy. emphasize technology. XX% account to all XX% expected million And Slide technologies respectively that's my as to are before total I end about transition are facilities. In XX these role than manufacturing use that TOPCon photovoltaic Silver known I in about to HJT more currently for PERC I'd plays So XXXX, photovoltaic

clean in if XX% demand that silver in demand to energy the even the grow I'm next, further to not confident or continue. happens renewable silver solar of that's than the total and solar slows, silver been energy XX%, commitment demand. solar raising more And economy will and And surprised this year increase going maybe solar to to accelerates. XX% if for to of silver set growth the I'm to cause as be So is transition made

And demand. silver that the with swamp is exception other to investment so demand it maybe categories going inevitable seems of solar

that, open With call to the Regina, like questions. to I'd

Operator

of from Pamatat line come first with ahead. Genuity. Lucas Canaccord Please Our the go Instructions] question [Operator will

Lucas Pamatat

question. thanks Hey. taking Phil team, my and good and morning for

you Just wondering mine mining. Berardi, those down and in think would color invest you to provide $XXX much three next the pit a Because million to has closed more had expect could I to Casa $XXX the to years you about on XX that open how over previously it said months? cost transition million

much and so, wondering that Just valid if how is into still baked if number the that guidance? CapEx of

Phillips Baker

costs without stripping of million, is Yes. XXXX. maybe and $XXX The number in little order XXXX, This valid magnitude it's XXXX And the a is that out add stripping. short still million. was in and answer you if that $XXX is bit

that's not capital And so it's an anything immediate outlay.

not this small free we'll Casa all does year, are capital that some of year costs relatively We but the next amount. relatively cash flow of making small in a it's cover make and

and think I timeframe, following XXXX XXXX, then year that investing million. that million, free the years cash $XX we're it's it's XXXX, those we'll each XXXX the yes return flow that positive $XX over And capital XXXX years. three and in

Lucas Pamatat

Got it. for one Thanks. And just me. more

had employees retaining – them, mine how You sort on to about because are area. of were or you shut What I past down for you that labor due how demand the to doing you the in in of just are guess? with the those planning hesitant planning talked on

Phillips Baker

it's to is economic. in reality that largest it's want the want But employees need – employer we the mine private we something the we're be certainly the something is, Well, do and retain to to has to region. the

down determination West the of Mine are we'll have And we looked to pit, period East workforce the only mine, at that through that very need and of went we'll open then and through stopes carefully move time. that stopes pit And And the made economic we will shut to an Mine. open so the could we mine what mine.

some so those into transition people have of to roles. will that? Lauren, that And to add what certainly those we'll you like would

Lauren Roberts

we've into role. So of workforce begun already pit of the that open transitioning underground the some process

were the So a East the from displaced that going the significant that purchased new into operate we number people of fleet fleet. to are new Mine

Lucas Pamatat

queue. back Thanks guys. get the it. in I'll Got

Operator

ahead. next of Pipes line Your go Riley. Lucas the Please question from B. with comes

Lucas Pipes

Thank everyone. you very much, Good operator. morning

Phillips Baker

Lucas. Hi,

Lucas Pipes

on is Can transition Casa would how first manage was touched question net over terms of that. thinking idle little impact the a underground of there the labor. the the in as it in much the there. transitioning would kind understand very coming on longer for what and also need of you Thank kind workings. operations? if that? for model frame up And costs bit then years It to the prior from is My and question be you to works Just mine following trying we the relates there's anything you underground underground term to through exit

Phillips Baker

you I'm before – second understood. Lucas, question? I not your So you sure can repeat

Lucas Pipes

underground pull away for costs So remaining plug is underground underground when of costs, or the you section underground essentially walk you it have even from anymore? you the and maintenance just abandon produce the don't Casa, you as do workings, the actively – works,

Phillips Baker

to underground. not do we It have of maintenance the determine the the future as make sterilize a will what does to in on do we underground level and

exploration. the revived drive currently could go attempt the tuned, underground in stay be costs, to we're that add mine to what We're further West to where ability to different the drilling But the do, different of we'll continuing we do we price we where drift back operating into conditions, The to Mine. on west exploration will will So plus environment. underground, that. see can maintain certainly,

the for tuned the over year. of will that occur and stay coming So that course

but ultimately such not reduce that Yes, enough roughly course large the with With respect fact are coming what employees. the but we will the up that is having having good. issue Lauren, be the a employees, going we're employer, we to It's end the being half that And year. to that go the fact number, I occur ahead. think over of to

Lauren Roberts

Yes.

And put of west year employees, now the the the course things will changes. come about year, we down in to perspective. company many mine. attrition, XXX, aren't we're over more XXX started about employees. So next the just And closure the change of to of in Honestly, with terms there company at normal the

Lucas Pipes

for it. detailed Thank the very much Got responses. you

my For stay topic. to I the second want do on question, labor

had on leave update labor I'll could mentioned especially you So side, Lucky an from labor there in going Keno, constraints, the And wondered I very now. if for much. front? and give the you the past Thank things on how skilled you it Friday, Greens us Creek, are

Phillips Baker

Sure, people good done I general add if in then can the Lauren there's the about, job a talk and in we we've maybe We attracting need specifically. guess you But very of can Lucas. general, anything at mines. that

the turnover the rate distant at Friday, sort in think less more turnover fallen I the technical of we've issue has past, seen is sort that's moment. there's a with rate. biggest the levels at to XX% of Lucky challenge for people, been the have that the of example, a we engineers, or geologists, Frankly,

You're but mechanics, have pretty done Lauren? skilled where have is the always there difficulties areas. going good technical we miners, very vacancies in a some to really job we've with

Lauren Roberts

say able Not to, say, roles a to everywhere competition, skilled the folks say past we're Yes. that, levels of than was material we're to but it find we at in to isn't at prior hasn't contract the it this much pretty difficult been fill impact still seeing the point. those and year but two. that over being trades what would we staffing it and on terms the Broadly less need there business I for supplement we're when

Phillips Baker

to schools up more We engineers need geologists, and right? fill

Lauren Roberts

because a of hairs side, that's gap exactly the in gray where there's bunch Hecla. skill That's right. is on Yes, technical really the

all with doing we're that. right So

Lucas Pipes

appreciate before to degree I'll my think children. And what I recommend I'd color. mentioned the know I I

of So thanks and best luck. again

Phillips Baker

hope Lucas. [indiscernible] I they

Operator

with come will question Reagor next line the Joseph Your MKM. ahead. Please of from ROTH go

Joseph Reagor

labor Kind questions. a question. of bit of following for Hey that, the guys, the thanks on taking little

there in be be any at changes the there also East that on Mine. East force will Will Mine, and for labor that? on any the QX taken of closure Casa the the charges With shutdown of the in

Phillips Baker

wise is both additional anticipate nor to no charge. there impairment labor any is a answer The steps questions. don't We

Joseph Reagor

Okay. mining compared to Casa, open fully on rates as February, think, you will the And be put in I pit was how out different you compared what in that report to XXXX XXXX document? guys then to technical the switch

Phillips Baker

Fundamentally, there's really to shown be going document. was just it's not that underground And the anything will then XXXX. and to past we there I that Otherwise, Lauren, that's that production capital plan – think to two And Russell, the changes will always occur that XXXX. about originally is One then additional have had. there's anything? reflected. add?

Lauren Roberts

Let's bit, changes say XXX is the accelerating we purchased shortening the we in with underground, terms of are equipment. the why of the the which immediate

context, XX go We this million year. so acceleration to circa is a from little moved massive. under And for XX not next tons year the

not at point the rate fully be that's the a drops So huge in-sourced time. and change. following that off And in of then we'll years, couple

Joseph Reagor

great All Okay. started to obviously, help Thanks it there. see for up right. on then And Keno, early.

guidance, I think this going started quarter originally to you Is you full-year it smoothly upside are QX. to there in to for guys targeting guys it? and achieve But the any early? chance are confident things how start you since were

Phillips Baker

of at be the are say, at the certainly so put is us We point, and something this would recoveries. a see We're cause go, function as a that to as to the isn't let's the confident in change guidance and ability we we what and will it moment. tons startup the but be to the going in there what mill Lauren? yes, anything learning is grade the but

Lauren Roberts

to to correct. Nothing add that. That's

Joseph Reagor

Okay. Thanks guys. I'll it turn over.

Operator

Mike will ahead. line Please with Bank. of come go Your the from next National question Parkin

Mike Parkin

Hi, guys.

got beat well. as a I a to horse, on Sorry dead questions Casa couple but

kind now. of employees to indicated like, it you'd expect it where of XXX where say even you give be the still lower? would as just you around are sense many over XXXX-ish, have? or year us how unemployment, You've Is started you Can a

Phillips Baker

insourcing in we're the have of sort range, would because we mining. remember that It's that

done will contractors be by Hecla done that's employees. work by So

Mike Parkin

Okay. pit? of respect the reserves And fit underground with of potentially that is in and reclassification to any resources, open then be to going there into the now, your any categories ounces

Phillips Baker

but My It will be to it's reserves of into not from XX% of pit, But recollection small. total. It's that right. be open – will resources there the is the go underground small. not XX% a or relatively we'll reclassification

Lauren Roberts

not it's a tons, million number. big X.X

Mike Parkin

mine what now? planning And pit, inferred that with seeing right is in we're of future Okay. terms in the open resources what to the you're

Phillips Baker

Yes. in It's so it’s grams reserves pit X.X something and X the the is X.X XXX the gram that. material, like grams, current and

so ratio particularly grade and And attractive. Pillar into Crown the higher the significantly and we when the the West Principal Mine pits strip is go pit on Principal is quite

Mike Parkin

That going a you've Historically, was my just you had Can questions. strip of elevated to us one of actually ratio. what general be be? of sense give an would quite the life mine average

Phillips Baker

Crown it that. is, the Mine but technical advanced remember a to respect and and West of I with Pillar shortened what you're report. Nothing is in to and to one one underground capital that's that, of in the seven the XXX XX technical multiple saying change the and Cell remember the for X don't those timing about the changed Principal has I the big is is being Really in being pit described pits technical at more are the Cell report X. more, that the as report. don't

Mike Parkin

a there with that be at? like move And IRR to threshold And minimum done decision is Okay. price justify the that this, would what silver it? using at to ahead you're

Phillips Baker

capital the XXXX, doesn't really the real terms big in until of yes Well, happen so it's asset, gold decision XXXX. outlay a

Now and you've to where those flow two the cash then now having got make years up is a positive, –between it capital so you end just outlay.

certainly economic, very to generating, say inclusive a a want flow this that's be expect high of forward plus minus different are time could material. and or to billion But $X will forward, go at is grade according it's we while conditions capital. that so that I And report, reason we technical decision it very the cash expected open the different the – made. It's that pit the free over

So it's pits. a very economic set of

Mike Parkin

me. from Okay. That’s it

Phillips Baker

in made XXXX. XXXX, is decision ultimate The

Mike Parkin

Okay.

Operator

Ihle [Operator come the Instructions] go H.C. And Wainwright. line Heiko our ahead. next of Please from will question with

Heiko Ihle

Hello everyone.

been ask on case a I later. for, on something before, Sorry I was that's asked bit call. in another got I little

if So to were happen sincere that here? apologies

Phillips Baker

[Indiscernible]

Heiko Ihle

Yes.

analyst happened new I your for sample call, you parts have transpired on you'll to pass to can would I availability with that me didn't and now stuff? some good decent else labor, the a on modeled for of First expect? time pretty don't maybe versus that of think the cost you costs. mean, I the you parts, think of community have mining output what for at bottleneck Anything by operations on to kind Yukon. what labor actually color you that your provide that up with size be know so operation starting on

Phillips Baker

Well, cadre thing wanted I We've that. of be recognize to they fortunate is we've had they huge the at and and that been say, turnover There the Keno. it's not was there cool Heiko, pretty of there in a a place I'll guess first and people sort grades.

stands. you we're top And can't operation that rotation. competitive. it's the an tell twice So the don’t attract issue where got to have been my in able that as basically it have rate that. it's would need a in turnover technical color, have But the many to think does high any schedule, not as Do you have head, that so I Yukon. the comp you for been wise, you've we've is certainly site. fortunate has we and people been people Lauren? I to off The have Certainly not of rotational

Lauren Roberts

staffing perspective. would that miners we've that Not had trouble say or No. really from technical either people. I not

Phillips Baker

operation. the down given been and The folks, few some has is that supplement Minto a quite have so a operations other thing us other of closed actually there's that

Heiko Ihle

helpful. quite Thank That's you.

Moving But can questions least else for the on focused just heard. the versus year and remainder from your on walk Zone know everyone I to the through money the of that Casa was on meters that, the when spent? for holes I even at maybe and exploration you Zone comes it us Bear Townsite plans

Phillips Baker

which So I'm sorry, zones? which – it muffled, was

Heiko Ihle

the Zone The Bear versus Townsite Zone?

Phillips Baker

Well, have challenge. so we that a many targets it's Okay. look,

it’s – is Chance bit great drill which will be actually there little is a results. the those to a so field. the moved two And from getting we're a zones But Vein, further now off

out we're be is, in things winter. in to going the and winter might drill the try we of should we the how figure to One drilling

guess I that. stay So for tuned

and Keno spend Our Hill total for $X.X is exploration million.

expand got have So we'll we'll the getting will we waiting start to be access drilling budget but to huge in access But and have it there. underground. we're We've plus fairly access quickly. we to, get those don't a start to winter, that if platforms

underground little a see drilling of the were a bit you'll that platforms. quarter result as from fourth in underground So those the more drilling

Heiko Ihle

you just until what the I to going drilling drilling up, it ask summer brought differential between is approximately? wasn't but winter cost and this

Phillips Baker

because tell we couldn't I Having gets more, all surface minus said remember, the on not they the of that but of issue cold, you just Casa experienced we that, almost it's and so other at XX degrees water all. drill, than managing actually occasion there. it the and is have big XX, do it, that it's all

Lauren Roberts

Preferentially in the winter.

Phillips Baker

of nature swampy the of area. because winter the that in Yes,

just see We to do And it. I some. do you'll to we, there. a experience the say it's that there, I Alexco done and think do skills it start the not have not have but it likely did we So

Heiko Ihle

That's very will queue. you. helpful. Thank back And get to I

Phillips Baker

Heiko. Thanks,

Operator

And any with that, I'll back closing over remarks. hand Baker for to Phil the call

Phillips Baker

we this about much, have and in have U.S. working was today position at has silver appreciate They that that for a And is the people I growth, in Friday. see a like Hecla, the very the working expertise that of more Canada because same the Regina. of we've than five and history the thanks sort very Well that and where that think to production. the experienced the Okay. where we're the hope silver see have we really that experience our years the company in things ago. had you'll a able it I we last to years fact And the meaningful dramatic questions. we production have like mining accomplishments of capable. five we group in that think the growth UCB method for that I we're do Lucky is

available So We're certainly questions. stay tuned. for

up to be interested talk set for anyone time or who's some Russell to shareholders, have to We analysts, I. able Lauren,

good And much. Thank day. please request of of a to on your be you one those that, so rest with a have And very make calls.

Operator

conclude That will you Thank joining. conference today's for all call.

now may You disconnect.

Hecla Mining (HL) 9 Aug 232023 Q2 Earnings call transcript