Hecla Mining Company (NYSE:HL) Q2 2022 Earnings Conference Call August 4, 2022 10:00 AM ET

Company Participants

Anvita Patil - VP, IR and Treasurer

Phillips Baker - President and CEO

Russell Lawlar - SVP and CFO

Lauren Roberts - SVP and COO

Conference Call Participants

Lucas Pipes - B Riley Securities

Michael Siperco - RBC Capital Markets

Trevor Turnbull - Scotiabank

Joseph Reagor - ROTH Capital Partners

Heiko Ihle - H.C. Wainwright & Co.

Operator

Good morning, my name is David, and I'll be your conference operator today. At this time, I'd like to welcome everyone to the Hecla Mining Company Earnings Call. [Operator Instructions]

Thank you. Anvita Patil, you may begin your conference.

Anvita Patil

Thank you, operator, and welcome everyone. Thank you for joining us for Hecla's second quarter 2022 financial and operations results conference call. I am Anvita Patil, Hecla's Vice President of Investor Relations and Treasurer. Our financial results news release that was issued this morning, 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 and 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. Reconciliations of the non-GAAP measures cited in this call and related slides are found in the slides or the news release.

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

Phillips Baker

Thanks, Anvita. Good morning, everyone, and thank you for joining our call.

I'm going to start on Slide 4, you know, I'm always a little bemused when someone says that we are in unusual times, but I do think this time it is characterized these times is quite unusual. When we had our conference call three months ago, I spoke about the risks facing the world and Hecla such as inflation, COVID the impact of the Russian-Ukrainian war, rising interest rates, and supply chain disruptions and none of those risks have gone away. And added to the list are increased China-Taiwan tensions and metals prices which have declined.

And for Hecla, our realized silver price is 12.5% lower this quarter than it was last quarter. And of course, we have a recession, those that could go lower. When I look at margins and capital projects that are going on across our industry, there is a fair amount of stress for companies with these projects.