Hecla Completes Acquisition Of Revett Mining Company, Inc.

 

COEUR D'ALENE, ID - Hecla Mining Company reported that acquisition of Revett Mining Company, Inc. is now complete. The acquisition brings to Hecla the Rock Creek Project, considered to be one of the largest undeveloped silver and copper deposits in North America. Hecla intends to continue to advance its permitting.

We welcome the Revett shareholders to Hecla and share their vision of seeing Rock Creek becoming large, responsibly-operated, silver mine, said Phillips S. Baker, Jr., Hecla’s President and CEO.

Under the terms of the transaction, Hecla acquired all the outstanding shares of Revett for total consideration of approximately $19 million in Hecla stock.

Hecla is a leading low-cost U.S. silver producer with operating mines in Alaska and Idaho, and is a gold producer with an operating mine in Quebec, Canada. The Company also has exploration and pre-development properties in six world-class silver and gold mining districts in the U.S., Canada, and Mexico, and an exploration office and investments in early-stage silver exploration projects in Canada.