HL 10-K Annual Report Dec. 31, 2023 | Alphaminr
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HL 10-K Fiscal year ended Dec. 31, 2023

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HECLA MINING CO/DE/
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TABLE OF CONTENTS
Part IItem 1. BusinessItem 1A. Risk Factors A Substantial Or Extended Decline in Metals Prices Would Have A Material Adverse Effect on UsItem 7. Management S Discussion and Analysis Of Consolidated Financial Condition and Results Of OperationsItem 7. Management S Discussion and Analysis Of Consolidated Financial Condition and Results Of Operations - Nevada OperationsItem 1A. Risk FactorsItem 7. Management's Discussion and Analysis Of Financial Condition and Results Of OperationsItem 1. Business - IntroductionItem 7. ManagementItem 2. Properties - Lucky FridayItem 2. PropertiesItem 1B. Unresolved Staff CommentsItem 1C. CybersecurityItem 1a, Risk FactorsItem 7. Management's Discussion and Analysis Of Financial Condition and Results Of Operations,Item 7. Management S Discussion and Analysis Of Financial Condition and Results Of Operations,Item 7. Management S Discussion and Analysis Of Financial Condition and Results Of Operations - Results Of Operations - Keno HillItem 3. Legal ProceedingsItem 4. Mine Safety DisclosuresPart IIItem 5. Market For Registrant S Common Equity, Related Stockholder Matters and Issuer Purchases Of Equity SecuritiesItem 6. ReservedItem 6. ResItem 7. Management S Discussion and Analysis Of Financial Condition and Results Of OperationsItem 1A. Risk Factors - Our Mineral Reserve and Resource Estimates May Be ImpreciseItem 1A. Risk Factors - Our Profitability Could Be Affected By Inflation, Including The Prices Of Other CommoditiesItem 1A. Risk Factors - Our Profitability Could Be Affected By Inflation, Including The Prices Of Other Commodities"Item 1A. Risk Factors - Operation, Development, Exploration and Acquisition RisksItem 7A. Quantitative and Qualitative Disclosures About Market Risk - Commodity-price Risk ManagementItem 7A. Quantitative and Qualitative Disclosures About Market RiskItem 7. Management's Discussion and Analysis Of Financial Condition and Results Of Operations - Critical Accounting EstimatesItem 8. Financial Statements and Supplementary DataItem 9. Changes in and Disagreements with Accountants on Accounting and Financial DisclosuresItem 9A. Controls and ProceduresItem 9B. Other InformationItem 9B. Other IItem 9C. Disclosure Regarding Foreign Jurisdictions That Prevent InspectionsItem 9C. Disclosure RegardPart IIIItem 10. Directors, Executive Officers and Corporate GovernanceItem 11. Executive CompensationItem 12. Security Ownership Of Certain Beneficial Owners and Management and Related Stockholder MattersItem 13. Certain Relationships and Related Transactions, and Director IndependenceItem 14. Principal Accountant Fees and ServicesPart IVItem 15. Exhibits and Financial Statement SchedulesItem 16. Form 10-k SummaryItem 16. Form 1Note 1: The CompanyNote 2: Summary Of Significant Accounting PoliciesNote 3: InvestmentsNote 4: Business Segments, Sales Of Products and Significant CustomersNote 5: Environmental and Reclamation ActivitiesNote 6: Employee Benefit PlansNote 7: Income and Mining TaxesNote 8: (loss) Income Per Common ShareNote 9: Debt, Credit Facility and LeasesNote 10: Derivative InstrumentsNote 11: Fair Value MeasurementNote 12: Stockholders EquityNote 13: Accumulated Other Comprehensive Income (loss)Note 14: Product InventoriesNote 15: Properties, Plants, Equipment and Mineral Interests, and Lease CommitmentsNote 16: Commitments, Contingencies, and ObligationsNote 17: Subsequent Events

Exhibits

1.1 Equity Distribution Agreement, dated as of February 18, 2021, by and among Hecla Mining Company and the sales agents party thereto. Filed as exhibit 1.1 to Registrants Current Report on Form 8-K filed on February 18, 2021 (File No. 1-8491) and incorporated herein by reference. 1.2 First Amendment to Equity Distribution Agreement, dated as of February 15, 2024, by and among Hecla Mining Company and the sales agents party thereto. * 2.1(a) Arrangement Agreement dated as of April 5, 2023, by and among Hecla Mining Company, Alexco Resources Corp. and ATAC Resources Ltd. Filed as exhibit 2.1 to Registrants Current Report on Form 8-K filed on April 6, 2023 (File No. 1-8491) and incorporated herein by reference. 3.1 Restated Certificate of Incorporation of the Registrant. Filed as exhibit 3.1 to Registrants Current Report on Form 8-K filed on May 26, 2023 (File No. 1-8491) and incorporated herein by reference. 3.2 Bylaws of the Registrant as amended to date. Filed as exhibit 3.2 to Registrants Current Report on Form 8-K filed on May 26, 2023 (File No. 1-8491) and incorporated herein by reference. 4.1(a) Indenture, dated as of February 19, 2020, by and among Hecla Mining Company and The Bank of New York Mellon Trust Company, N.A., as trustee. Filed as exhibit 4.1 to Registrants Current Report on Form 8-K filed on February 19, 2020 (File No. 1-8491) and incorporated herein by reference. 4.1(b) First Supplemental Indenture, dated as of February 19, 2020, among Hecla Mining Company, as Issuer, certain subsidiaries of Hecla Mining Company, as Guarantors hereto, and the Bank of New York Mellon Trust, N.A., as Trustee. Filed as exhibit 4.2 to Registrants Current Report on Form 8-K filed on February 19, 2020 (File No. 1-8491) and incorporated herein by reference. 4.1(c) Second Supplemental Indenture, dated as of February 6, 2023, among Hecla Mining Company, as Issuer, certain subsidiaries of Hecla Mining Company, as Guarantors hereto, and the Bank of New York Mellon Trust, N.A., as Trustee. Filed as exhibit 4.1(c) to Registrants Form 10-Q for the quarter ended March 31, 2023, filed on April 10, 2023 (File No. 1-8491) and incorporated herein by reference. 4.2 Registration Rights Agreement, dated as of October 16, 2023, among Hecla Mining Company, as Issuer, and Hecla Mining Company Retirement Plan Trust, which is the funding vehicle for the Hecla Mining Company Retirement Plan, a tax-qualified employee benefit pension plan sponsored by Hecla Mining Company, and the Lucky Friday Pension Plan Trust, which is the funding vehicle for the Lucky Friday Pension Plan. * 4.3 Designations, Preferences and Rights of Series B Cumulative Convertible Preferred Stock of the Registrant. Included as Annex II to Restated Certificate of Incorporation of Registrant filed as exhibit 3.1 to Registrants Form 10-Q for the quarter ended March 31, 2018 (File No. 1-8491) and incorporated herein by reference. 4.4 Form of 7.250% Senior Note due 2028 (included in Exhibit 4.1(b). 4.5 Description of Securities. Filed as exhibit 4.4 to Registrants Form 10-K for the year ended December 31, 2022 (File No. 1-8491) and incorporated herein by reference. 10.1 Credit Agreement dated as of July 21, 2022, by and among Hecla Mining Company, Hecla Limited, Hecla Alaska LLC, Hecla Greens Creek Mining Company, and Hecla Juneau Mining Company, as the Borrowers, Bank of America, N.A., as the Administrative Agent for the Lenders, and various Lenders. Filed as exhibit 10.1 to Registrants Current Report on Form 8-K on July 21, 2022 (File No. 1-8491) and incorporated herein by reference. 10.2 Form of Change of Control Agreement entered into on March 5, 2015, between Registrant and each of Phillips S. Baker, Jr., and David C. Sienko, on February 19, 2016 with Robert D. Brown, on August 5, 2019, on March 1, 2020 with Michael L. Clary, on March 1, 2021 with Russell D. Lawlar, on July 1, 2021 with Kurt Allen, and on August 16, 2023 with Carlos Aguiar. Filed as exhibit 10.2 to Registrants Form 10-K for the year ended December 31, 2015 (File No. 1-8491) and incorporated herein by reference. (1) 10.3 Form of Indemnification Agreement dated November 8, 2006, between Registrant and Phillips S. Baker, Jr. Identical Indemnification Agreements were entered into between the Registrant and Charles B. Stanley on May 4, 2007, David C. Sienko on January 29, 2010, Robert D. Brown on January 4, 2016, Stephen F. Ralbovsky and George R. Johnson on March 1, 2016, Catherine J. Boggs on January 1, 2017, Alice Wong on February 26, 2021, Michael L. Clary on March 1, 2020, Russell D. Lawlar on March 1, 2021, Kurt Allen on July 1, 2021, and Carlos Aguiar on August 16, 2023. Filed as exhibit 10.7 to Registrants Form 10-Q for the quarter ended September 30, 2006 (File No. 1-8491) and incorporated herein by reference. (1) 10.5 Hecla Mining Company 2010 Stock Incentive Plan (Amended and Restated as of August 21, 2021). Filed as exhibit 10.1 to Registrants Form 10-Q for the quarter ended September 30, 2021 (File No. 1-8491) and incorporated herein by reference. (1) 10.6 Hecla Mining Company Short-Term Incentive Plan. Filed as exhibit 10.1 to Registrants Form 10-Q for the quarter ended March 31, 2019 (File No. 1-8491) and incorporated herein by reference. (1) 10.7 Hecla Mining Company Executive and Senior Management Long-Term Performance Payment Plan (as Amended and Restated Effective January 1, 2017). Filed as exhibit 10.3 to Registrants Form 10-Q for the quarter ended March 31, 2017 (File No. 8491) and incorporated herein by reference. (1) 10.8(a) Hecla Mining Company Retirement Plan for Employees and Supplemental Retirement and Death Benefit Plan. Filed as exhibit 10.17(a) to Registrants Form 10-K for the year ended December 31, 2008 (File No. 1-8491) and incorporated herein by reference. (1) 10.8(b) Hecla Mining Company Post-2004 Supplemental Excess Retirement Plan Master Plan Document, effective January 1, 2019. Filed as exhibit 10.8(a) to Registrants Form 10-K for the year ended December 31, 2021 (File No. 1-8491) and incorporated herein by reference. (1) 10.8(c) Hecla Mining Company Pre-2005 Supplemental Excess Retirement Plan Master Plan Document, effective January 1, 2019. Filed as exhibit 10.8(b) to Registrants Form 10-K for the year ended December 31, 2021 (File No. 1-8491) and incorporated herein by reference. (1) 10.10 Hecla Mining Company Stock Plan for Nonemployee Directors, as amended. Filed as exhibit 10.3 to Registrants Form 10-Q for the quarter ended June 30, 2017 (File No. 1-8491) and incorporated herein by reference. (1) 19 Hecla Mining Company Policy on Insider Trading. * 21 List of subsidiaries of Registrant. * 23.1 Consent of BDO USA, P.C. * 23.2 Consent of Qualified Person for Technical Report Summary of Greens Creek Mine. * 23.3 Consent of Qualified Person for Technical Report Summary of Lucky Friday Mine. * 23.4 Consent of Qualified Person for Technical Report Summary of Casa Berardi Mine. * 23.5 Consent of Qualified Person for Technical Report Summary of Casa Berardi Mine. * 23.6 Consent of Qualified Person for Technical Report Summary of Keno Hill Mine. * 23.7 Consent of Qualified Person for Technical Report Summary of Keno Hill Mine. * 23.8 Consent of Qualified Person for Technical Report Summary of Keno Hill Mine. * 23.9 Consent of Qualified Person for Technical Report Summary of Keno Hill Mine. * 31.1 Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. * 31.2 Certification pursuant to Section 302 of Sarbanes-Oxley Act of 2002. * 32.1 Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. * 32.2 Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. * 95 Mine safety information listed in Section 1503 of the Dodd-Frank Act. * 96.1 Technical Report Summary on the Greens Creek Mine, Alaska, U.S.A. Filed as exhibit 96.1 to Registrants Form 10-K for the year ended December 31, 2021 (File No. 1-8491) and incorporated herein by reference. 96.2 Technical Report Summary on the Lucky Friday Mine, Idaho, U.S.A. Filed as exhibit 96.2 to Registrants Form 10-K for the year ended December 31, 2021 (File No. 1-8491) and incorporated herein by reference. 96.3 Technical Report Summary on the Casa Berardi Mine, Northwestern Qubec, Canada. * 96.4 Technical Report Summary of the Keno Hill Mine, Yukon Territory, Canada. * 97 Hecla Mining Company Incentive-Based Compensation Recovery Policy. *