Info about Hecla????

[other1z]

Hello all.

I tried finding this, but can anyone enlighten me why Hecla dropped from $13 to $1.xx over the last couple months? It's showing upward movement today, but I can't find info on the drop.

[deuce]

I seem to remember something about their failure to convert a bridge loan to permanent financing before the credit markets dried up. They were forced to sell shares and issue warrants. I think the shares were diluted by about 40%. Many investors probably lost confidence in management.

[other1z]

Thanks. If anyone can find a link, I'd appreciate it.

[chux03]

I'd probably go to their website www.hecla-mining.com and see if they have a list of analysts that write about and follow them.
Right off hand, I'm thinking it had to do with their purchase of their partners share (Rio Tinto) of their HUGE Greens Creek project in Alaska several months ago now. Look through their news releases there at their website. Do a google on HL in the News area, check www.seekingalpha.com as I have read several articles about Hecla over there too. Search here at SilverSeek. Your best source will be a newsletter that has them as either a reco or they just write about them. Some PM newsletters can be spendy but the advice they give can be priceless, especially if you can't find the info in any other place.
Good luck!!

[sliver]

One cause for the drop....the Greens Creek mine is primarily a copper producer with a good percentage of silver. The price of copper went from almost $4 a lb. to around $1.50 for awhile. The other Chux referred to. They had a chance to purchase the part of the Green's Creek mine they didn't own. Just as they were completing the purchase and arranging financing, silver also dropped. All they had was a bridge loan(temporary loan until they could arrange a more long term loan). So the long term financing became more expensive because world wide credit on anything became more expensive even when you could get it.. They also own the Lucky Friday mine and have an interest in locations in South America. They have been around for over a hundred years and are a good company. It would make a good long term investment now , in my opinion. In fact I'm thinking of buying a little. Short term I think it depends on what the copper market does.
Sliver