v3.26.1
Note 2 - Sale of Hecla Quebec Inc. and Discontinued Operations (Tables)
 3 Months Ended
Mar. 31, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Discontinued Operations and Comprehensive Loss.

Below is a summary of Hecla Quebec's results from discontinued operations for the first quarters of 2026 and 2025 and statement of financial position as of December 31, 2025.

 

Hecla Quebec Inc.

Results of Discontinued Operations

(Dollars are in Thousands)

 

 

Three Months Ended

 

 

March 31, 2026

 

 

March 31, 2025

 

Sales

$

70,284

 

 

$

56,005

 

Cost of sales and other direct production costs

 

37,629

 

 

 

42,113

 

Depreciation, depletion and amortization

 

932

 

 

 

8,569

 

Total cost of sales

 

38,561

 

 

 

50,682

 

Gross profit

 

31,723

 

 

 

5,323

 

Other operating expenses:

 

 

 

 

 

Exploration and pre-development

 

1,051

 

 

 

188

 

Other operating expense, net

 

—

 

 

 

185

 

Total other operating expenses

 

1,051

 

 

 

373

 

Income from discontinued operations

 

30,672

 

 

 

4,950

 

Other expense:

 

 

 

 

 

Interest expense

 

(91

)

 

 

(159

)

Fair value adjustments, net

 

(2,231

)

 

 

239

 

Net foreign exchange loss

 

—

 

 

 

11

 

Total other expense

 

(2,322

)

 

 

91

 

Income of discontinued operations

 

28,350

 

 

 

5,041

 

Loss on disposal of Hecla Quebec Inc.

 

(192,482

)

 

 

—

 

Income and mining tax provision

 

(19,549

)

 

 

(508

)

Net (loss) income from discontinued operations

$

(183,681

)

 

$

4,533

 
Schedule of Assets and Liability of Discountinued Operation

Hecla Quebec Inc.

Reconciliation of Assets and Liabilities of Discontinued Operations to Balance Sheet

(Dollars are in Thousands)

 

 

 

December 31, 2025

 

ASSETS

 

 

 

Accounts receivable

 

$

5,091

 

Inventories:

 

 

 

Product inventories

 

 

11,615

 

Materials and supplies

 

 

21,483

 

Prepaid expenses

 

 

2,596

 

Total current assets

 

 

40,785

 

Property, plants, equipment and mine development, net

 

 

710,246

 

Other non-current assets

 

 

698

 

Total assets

 

$

751,729

 

LIABILITIES

 

 

 

Current liabilities:

 

 

 

Accounts payable and accrued liabilities

 

$

24,690

 

Accrued payroll and related benefits

 

 

7,891

 

Accrued taxes

 

 

4,866

 

Finance leases

 

 

2,911

 

Total current liabilities

 

 

40,358

 

Accrued reclamation and closure costs

 

 

75,980

 

Deferred tax liabilities

 

 

88,840

 

Other non-current liabilities

 

 

5,456

 

Total liabilities

 

$

210,634