LF was closed for a year. Backer promised to reopen in late December 2012 and start full scale mining in the first week of January - apparently it did not happen, so I suspect there are problems with MSHA inspection or the new installation doesn't work as it it supposed to.
All experienced miners left to work for other companies - whom are they hiring to work at LF?
Ag sale prices were a lot higher in Q3 and HL made only 1 penny per share. For Q4 analysts estimate that HL will make 4 pennies per share and that with Ag prices significantly lower from prior quarter - that's not gonna happen.
Prepare to lose again.
I hope I am wrong as I have some HL shares. But the facts just speak for themselves. Other silver miners like CDE, PAAS and EXK are much better investments.
One of the many "presents" I viewed it was mentioned HL losses were in large part company wise guys betting wrong on "derivities" or futures in sillver. I think they will pull back on the crystol ball watchers. I hope so anyway.
Jess, HL doesn't hedge Ag, they repeated it everywhere in CCs and 10ks. They do hedge by-products - zinc and tint.
The cash cost of mining in Greens Creek is very low $0-$2 per once. Thus poor earnings ( one penny per share) were because:
bloated Genera and Admin expense;
"record exploration expenses" as they like to boast;
and frankly speaking, I don't know how they come up with such poor earnings with the lowest cash cost of mining in the industry.