Hecla Mining Company (NYSE:HL) Q2 2023 Earnings Conference Call August 9, 2023 10:00 AM ET
Company Participants
Anvita Patil - Vice President of Investor Relations and Treasurer, Hecla Limited
Phillips Baker - President and Chief Executive Officer
Russell Lawlar - Senior Vice President and Chief Financial Officer
Lauren Roberts - Senior Vice President and Chief Operating Officer
Conference Call Participants
Lucas Pamatat - Canaccord Genuity
Lucas Pipes - B. Riley Securities
Joseph Reagor - ROTH MKM
Mike Parkin - National Bank of Canada Financial Markets
Heiko Ihle - H.C. Wainwright & Co.
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. [Operator Instructions]
I would now like to turn the conference over to Anvita Patil, Vice President, Investor Relations and Treasurer. Please go ahead.
Anvita Patil
Good morning, Regina, and thank you all for joining us for Hecla's second quarter 2023 financial and operations results conference call. I'm Anvita Patil, Hecla's Vice President of Investor Relations and Treasurer. Our financial results news release that was issued yesterday, along with today's presentation, are available on Hecla's website.
On today's call, we have Phil Baker, Hecla's President and CEO; Lauren Roberts, Hecla's Senior Vice President and Chief Operating Officer; and Russell Lawlar, Hecla's Senior Vice President and Chief Financial Officer.
Any forward-looking statements made today by the management team come under the Private Securities Litigation Reform Act and involve risks as shown on Slides 2 and 3 in our earnings release and in our 10-K and 10-Q filings with the SEC. These and other risks could cause results to differ from those projected in the forward-looking statements. Non-GAAP measures cited in this call and related slides are reconciled in the slides or the news release.
I'd like to remind you if you would like to have a call with the management, you can do so by using the link under the section Virtual Investor Event in our earnings release that was issued yesterday.
With that, I will pass the call to Phil.
Phillips Baker
Thanks, Anvita. Good morning, everyone. Thanks for joining our call. This second quarter was a good quarter for safety, production, cash flow and starting changes at Casa, but maybe the most significant event of the quarter is the restart of the Keno mill, because when you combine that with what is happening at Greens Creek and Lucky Friday, I think that Hecla is now in another period of substantial growth in silver production reserves and maybe even faster than what we had over the last five years. And if you look at Slide 4, you can see why I'm saying that because what that shows is what we've done over the last five years. And the numbers for those five years are pretty remarkable, 27% growth in revenue, 79% growth in silver reserves, 37% growth in production, $0.75 billion of free cash flow from our three mines.