Klondex Mines Q1 Profit Narrows, Sale To Hecla Mining Expected To Close By June 30

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Klondex Mines Q1 Profit Narrows, Sale To Hecla Mining Expected To Close By June 30

posted on May 04, 2018 11:57AM

2018-05-03 04:46:35 PM ET (MT Newswires)

04:46 PM EDT, 05/03/2018 (MT Newswires) -- Klondex Mines (KDX.TO), which has agreed to be acquired by Hecla Mining (HL) for US$462 million, said after market close Thursday its first-quarter loss narrowed on higher gold and silver prices.

The company said it lost US$8.0 million, or US$0.04 per share, compared with a loss of US$10.23 million, or US$0.06, in the first quarter of 2017. Revenue rose 36% to US$56.77 million.

Klondex said it expects Hecla's acquisitions of its U.S. mines to close by the end of June. The company's Canadian assets, including the True North mining complex in Manitoba, are being spun out to shareholders.

Klondex shares closed down $0.02 to $3.14 Thursday on the Toronto Stock Exchange.

Price: 3.14, Change: -0.02, Percent Change: -0.63

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