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Pastimes : coug's news and views -- Ignore unavailable to you. Want to Upgrade?

To: coug who wrote (3910)	9/9/2011 1:32:28 PM
From: coug	1 Recommendation Respond to of 3961

""Under the terms of the Consent Decree previously disclosed, Hecla will pay a total of $263.4 million, plus certain interest payments, over a period of three years, to the United States, the State of Idaho, and the Coeur d’Alene Tribe. The initial payment of $167 million is payable by October 8, 2011. The second and third payments of $25 million and $15 million will be payable one and two years later, respectively. In addition, proceeds from the exercise of any outstanding Series 1 and Series 3 warrants (which have an exercise price between $2.45 and $2.50 per share) with an aggregate exercise price of $56 million, will be paid as quarterly payments, with the remaining balance, if any, due in August 2014. The payments are before any income tax benefits. Hecla has a strong balance sheet with $377 million in cash and cash equivalents as of June 30, 2011 and no debt, low cash costs, and excellent silver margins. During the first half of 2011 alone, we generated $127 million of operating cash flow. The Company has sufficient cash on hand to fulfill our settlement obligations, meet all capital, pre-development, and exploration requirements for 2011; and adequate funding to pursue other value generating initiatives for our shareholders."" messages.finance.yahoo.com