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Hecla Mining Adjusts Reportable Segments

Hecla Mining Company, in its recent filing, disclosed a change in its reportable segments effective in the first quarter of its fiscal year 2024. This change aligns with the chief operating decision makers' evaluation of Hecla and has resulted in the Nevada operations, historically reported as a separate segment, now being reported in "other."

In accordance with accounting standards, segment information for all periods presented has been revised for these changes, with all prior period information recast to reflect this change in reportable segments. This will allow Hecla to incorporate the recast financial statements by reference in future SEC filings.

The change impacts various items initially filed, including business, management's discussion and analysis of financial condition and results of operations, financial statements, and supplementary data. Notably, the reconciliation of total cost of sales to cash cost, before by-product credits and cash cost, after by-product credits (non-GAAP) and all-in sustaining cost, before by-product credits and all-in sustaining cost, after by-product credits (non-GAAP) has also been updated to reflect this change.

Investors and stakeholders should take note of these changes when analyzing Hecla's financial performance and position, as the recasting of prior period information could have implications for trend analysis and comparisons with historical data. As a result of these announcements, the company's shares have moved 2.1% on the market, and are now trading at a price of $6.23. For the full picture, make sure to review Hecla Mining's 8-K report.

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