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News Breaks | | | | February 22, 2013 | | 08:10 EDT |  | HL | Hecla Mining acquires 19.8% stake in Brixton Metals
Hecla Mining Company announced that a wholly owned subsidiary of Hecla has entered into a subscription agreement to acquire 17.25M common shares of Brixton Metals Corporation, a Canadian-based resource exploration company currently focused on the exploration of the Thorn Project located in the Atlin Mining District in northern British Columbia. Subject to receipt of approval by the TSX Venture Exchange, the common shares will be issued to the wholly owned subsidiary of Hecla from treasury at a price of $0.15 per common share for total gross proceeds to Brixton of $2,587,500. Upon completion of the transactions contemplated by the subscription agreement, the acquired shares will represent and Hecla will exercise control over approximately 19.8% of the then outstanding common shares of Brixton. Hecla has the right to maintain its proportional ownership interest in Brixton through the exercise of a pre-emptive right. In addition, Hecla has the right to appoint one representative to the Board of Directors of Brixton and will be providing technical assistance to Brixton. The common shares will be acquired for investment purposes by Hecla. Hecla does not have any present intention to acquire ownership of, or control over, additional securities of Brixton, it said. | |
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| May 10, 2013 | | 08:27 EDT | | HL | Hecla Mining says Aurizon Mines shareholders voted in favor acquisition
On May 9, Aurizon Mines (AZK) shareholders voted in favor of the Hecla (HL) acquisition, the company announced. Hecla said it expects to complete the acquisition of Aurizon during the second quarter upon receipt of Investment Canada regulatory approval. Aurizon's core asset is the Casa Berardi gold mine in Quebec, Canada, with 2013 gold production estimated by Aurizon of 125,000-130,000 ounces. Also, subsequent to the first quarter, Hecla completed a $500M offering of 6.875% Senior Notes due 2021, which will partially fund the acquisition, it said. | | | 08:24 EDT |  | HL | Hecla Mining reports Q1 adjusted EPS 1c, consensus 4c
Reports Q1 revenue $76.5M, consensus $94.78M. Reports Q1 silver production 1.9M ounces at a cash cost of $7.02 per ounce, net of by-products. | | | May 9, 2013 | | 15:27 EDT | | HL | Notable companies reporting before tomorrow's open
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