| 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)
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Three Months Ended |
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March 31, 2026 |
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March 31, 2025 |
|
Sales |
$ |
70,284 |
|
|
$ |
56,005 |
|
COSTS AND EXPENSES |
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|
|
|
|
Costs applicable to sales(1) |
|
37,629 |
|
|
|
42,113 |
|
Depreciation, depletion and amortization |
|
932 |
|
|
|
8,569 |
|
Exploration and pre-development |
|
1,051 |
|
|
|
188 |
|
Other operating expense, net |
|
— |
|
|
|
185 |
|
Total costs and expenses |
|
39,612 |
|
|
|
51,055 |
|
Income from discontinued operations |
|
30,672 |
|
|
|
4,950 |
|
Other (expense) income: |
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|
|
|
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Interest expense |
|
(91 |
) |
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|
(159 |
) |
Fair value adjustments, net |
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(2,231 |
) |
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|
239 |
|
Net foreign exchange loss |
|
— |
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|
|
11 |
|
Total other (expense) income |
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(2,322 |
) |
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|
91 |
|
Income from discontinued operations, before income and mining tax provision |
|
28,350 |
|
|
|
5,041 |
|
Loss on disposal of Hecla Quebec Inc. |
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(192,482 |
) |
|
|
— |
|
Income and mining tax provision |
|
(19,549 |
) |
|
|
(1,841 |
) |
(Loss) income from discontinued operations |
$ |
(183,681 |
) |
|
$ |
3,200 |
|
(1) Excludes depreciation, depletion and amortization
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| 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)
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December 31, 2025 |
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ASSETS |
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|
|
Accounts receivable |
|
$ |
5,091 |
|
Inventories: |
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|
|
Product inventories |
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|
11,615 |
|
Materials and supplies |
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|
21,483 |
|
Prepaid expenses |
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|
2,596 |
|
Assets of discontinued operations, current |
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|
40,785 |
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Property, plants, equipment and mine development, net |
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|
710,246 |
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Other non-current assets |
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|
698 |
|
Assets of discontinued operations, non-current |
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|
710,944 |
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Total assets |
|
$ |
751,729 |
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LIABILITIES |
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|
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Current liabilities: |
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|
|
Accounts payable and accrued liabilities |
|
$ |
24,690 |
|
Accrued payroll and related benefits |
|
|
7,891 |
|
Accrued taxes |
|
|
4,866 |
|
Finance leases |
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|
2,911 |
|
Liabilities of discontinued operations, current |
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|
40,358 |
|
Accrued reclamation and closure costs |
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|
75,980 |
|
Deferred tax liabilities |
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|
88,840 |
|
Other non-current liabilities |
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|
5,456 |
|
Liabilities of discontinued operations, non-current |
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|
170,276 |
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Total liabilities |
|
$ |
210,634 |
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The following table presents the major classes of line items constituting income from discontinued operations, net of tax, in our Consolidated Statements of Operations and Comprehensive Income (Loss) for the years ended December 31, 2025, 2024, and 2023:
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Year ended December 31, |
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2025 |
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2024 |
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2023 |
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Sales |
$ |
319,117 |
|
|
$ |
209,679 |
|
|
$ |
177,678 |
|
COSTS AND EXPENSES |
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|
|
|
|
|
|
|
Costs applicable to sales(1) |
|
173,486 |
|
|
|
150,779 |
|
|
|
155,304 |
|
Depreciation, depletion and amortization |
|
33,233 |
|
|
|
72,835 |
|
|
|
66,037 |
|
General and administrative |
|
— |
|
|
|
— |
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|
|
2,084 |
|
Exploration and pre-development |
|
393 |
|
|
|
1,863 |
|
|
|
5,685 |
|
Other operating expense, net |
|
(6,381 |
) |
|
|
1,688 |
|
|
|
5,251 |
|
Total costs and expenses |
|
200,731 |
|
|
|
227,165 |
|
|
|
234,361 |
|
Income (loss) from discontinued operations |
|
118,386 |
|
|
|
(17,486 |
) |
|
|
(56,683 |
) |
Other (expense) income: |
|
|
|
|
|
|
|
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Interest expense |
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(590 |
) |
|
|
(503 |
) |
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|
(254 |
) |
Fair value adjustments, net |
|
4,123 |
|
|
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(5,744 |
) |
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|
1,190 |
|
Other income |
|
204 |
|
|
|
257 |
|
|
|
418 |
|
Net foreign exchange gain (loss) |
|
255 |
|
|
|
(512 |
) |
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|
335 |
|
Total other income (expense) |
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3,992 |
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|
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(6,502 |
) |
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|
1,689 |
|
Income (loss) from discontinued operations, before income and mining taxes |
|
122,378 |
|
|
|
(23,988 |
) |
|
|
(54,994 |
) |
Income and mining tax (provision) benefit |
|
(58,725 |
) |
|
|
9,555 |
|
|
|
11,024 |
|
Income (loss) from discontinued operations, net of income and mining taxes |
$ |
63,653 |
|
|
$ |
(14,433 |
) |
|
$ |
(43,970 |
) |
(1) Excludes depreciation, depletion and amortization The following table presents the carrying amounts of the major classes of asset and liabilities of discontinued operations to the Consolidated Balance Sheet as of December 31, 2025 and 2024:
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December 31, 2025 |
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December 31, 2024 |
|
ASSETS |
|
|
|
|
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Accounts receivable |
|
$ |
5,091 |
|
$ |
6,431 |
|
Inventories: |
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|
|
|
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Product inventories |
|
|
11,615 |
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|
13,732 |
|
Materials and supplies |
|
|
21,483 |
|
|
19,869 |
|
Other current assets |
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|
2,596 |
|
|
8,737 |
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Assets of discontinued operations, current |
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|
40,785 |
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|
48,769 |
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Property, plants, equipment and mine development, net |
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|
710,246 |
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|
627,697 |
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Other non-current assets |
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|
698 |
|
|
810 |
|
Assets of discontinued operations, non-current |
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|
710,944 |
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|
628,507 |
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Total assets |
|
$ |
751,729 |
|
$ |
677,276 |
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LIABILITIES |
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Current liabilities: |
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Accounts payable and accrued liabilities |
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$ |
24,690 |
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$ |
26,454 |
|
Accrued payroll and related benefits |
|
|
7,891 |
|
|
6,243 |
|
Accrued taxes |
|
|
4,866 |
|
|
— |
|
Finance leases |
|
|
2,911 |
|
|
2,659 |
|
Other current liabilities |
|
|
— |
|
|
5,787 |
|
Liabilities of discontinued operations, current |
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|
40,358 |
|
|
41,143 |
|
Accrued reclamation and closure costs |
|
|
75,980 |
|
|
17,005 |
|
Deferred tax liabilities |
|
|
88,840 |
|
|
50,193 |
|
Other non-current liabilities |
|
|
5,456 |
|
|
9,292 |
|
Liabilities of discontinued operations, non-current |
|
|
170,276 |
|
|
76,490 |
|
Total liabilities |
|
$ |
210,634 |
|
$ |
117,633 |
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