HECLA MINING COMPANY $4.55 (New York symbol HL; TSINetwork Rating: Extra Risk) (208-769- 4100; www.hecla-mining.com; Shares o/s: 384.0 million; Market cap: $1.7 billion; Dividend yield: 0.2%) explores for, mines and processes silver and gold in the U.S. and Mexico.
The company has now agreed to buy Mines Management Inc. (symbol MGN on New York) for about 7 million Hecla shares.
Mines Management owns one of North America’s largest undeveloped silver and copper deposits, in northwestern Montana. The Montanore site sits on 230 million ounces of silver and 2.0 billion pounds of copper.
Hecla Mining is a buy.