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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: peterhamilton who wrote (83705)	3/24/2002 10:41:26 PM
From: IngotWeTrust	Read Replies (2) \| Respond to of 116915

THIS ISN"T GOLD STOCKS 101 thread, jerkface. Besides you exalted gibberish when you put GATA at the head of your reasons to be involved with gold stocks. Believe it or not, some of us were in this sector while Bill was still playing without a helmet for the ignominious OLD N.E. Patriots. Just thought you'd appreciate some facts, that's all. Your beloved HUI index is hot air and gibberish as well. Here's why: HUI by definition is made up of producers who HEDGE TWO YEARS OR LESS. They ONLY have to make that avowal when they first qualified for inclusion in the index umpty years ago. God only knows if they still are only 2 years hedged at this late date or ever "strayed" inbetween origination and current "chart entrails devination.". A hedge is a hedge is a hedge. A two year hedgebook is like being kinda pregnant: Ain't no such thing as only "kinda hedged" if you don't count my first two years of hedges.... Price of gold will go down because it is a dense metal and law of gravity has not been repealed, regardless of Smurphy's railing and ranting, and your touting him on this thread. C'ya, sucker. g_t

To: peterhamilton who wrote (83705)	3/25/2002 8:40:21 AM
From: long-gone	Respond to of 116915

Hecla Acquires Lease On Historic Block B in Venezuela COEUR D'ALENE, Idaho, Mar 25, 2002 (BUSINESS WIRE) -- Hecla Mining Company (HL & HL-PrB:NYSE) today announced it received confirmation from CVG-Minerven, the Venezuelan government-owned gold mining company, that Hecla has been awarded the lease on Block B in Venezuela's prolific El Callao gold mining district, subject to a definitive agreement. Hecla currently operates the La Camorra gold mine in Venezuela, a low-cost, high-grade mine that produced more than 150,000 ounces of gold in 2001 at an average total cash cost of $133 per ounce. Hecla's Chairman and Chief Executive Officer, Arthur Brown, said, "This agreement will give us exclusive rights to a major gold mining district in Venezuela. We have had great success with our current gold operation in that country and are very pleased with the potential to expand our presence there, especially on such a prospective property. One of Hecla's strengths is our ability as underground, narrow vein, hardrock miners and these deposits fit perfectly with Hecla's skills and expertise. This is a good opportunity to grow the company and increase its value to our shareholders for the long term." Block B is a 1,795 hectare land position in the heart of the historic El Callao gold district. Included in the land position are the Chile, Laguna and Panama mines, which produced more than 1.5 million ounces of gold between 1921 and 1946.These operations were shut down due to events surrounding the end of World War II and technical difficulties. Hecla will initially focus on the Chile mine, which produced more than 550,000 ounces of gold at an average ore grade of more than one ounce of gold per ton. Recent drilling at the Chile mine has revealed high-grade intercepts and shows continuation of the structure. Brown said, "In addition to the Chile, Laguna and Panama mines, Block B contains several promising exploration targets as well as numerous other historically operated gold mines which have exciting further potential." Hecla will begin negotiations in April with CVG-Minerven on a definitive lease agreement. Hecla has agreed to pay $500,000 upon signing the final agreement. Six months after signing, Hecla would pay $1.25 million to CVG-Minerven, with an additional $1 million payment in another six months. These payments would give Hecla the right to explore and develop Block B. CVG-Minerven would also receive a sliding royalty of 2% to 3% on any future production from the property. Hecla anticipates an extensive drilling program to confirm the recent drilling performed by Minerven and to expand the already identified resource. Hecla Mining Company, headquartered in Coeur d'Alene, Idaho, mines and processes silver and gold in the United States, Venezuela and Mexico. A 111-year-old company, Hecla has long been well known in the mining world and financial markets as a primary silver producer. Hecla's common and preferred shares are traded on the New York Stock Exchange under the symbols HL and HL-PrB. Statements made which are not historical facts, such as anticipated payments, production, sales of assets, exploration results and plans, costs, prices or sales performance are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to, metals price volatility, volatility of metals production, project development risks and ability to raise financing. Refer to the company's Form 10-Q and 10-K reports for a more detailed discussion of factors that may impact expected future results. The company undertakes no obligation and has no intention of updating forward-looking statements. businesswire.com CONTACT: Hecla Mining Company Vicki J. Veltkamp, 208/769-4144 hecla-mining.com URL: businesswire.com Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. Copyright (C) 2002 Business Wire. All rights reserved. -0- KEYWORD: IDAHO INTERNATIONAL LATIN AMERICA VENEZUELA INDUSTRY KEYWORD: MINING/METALS SOURCE: Hecla Mining Company