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HECLA ANNOUNCES TERMS FOR MANDATORY CONVERSION OF
FOR IMMEDIATE RELEASE
December 29, 2010
COEUR D’ALENE, IDAHO -- Hecla Mining Company ( NYSE:HL ) today announced its conversion rate for its 6.5% Mandatory Convertible Preferred Stock (the “Preferred Stock”), which automatically converts into shares of Hecla’s common stock on January 1, 2011.
Under the terms of the Preferred Stock, the conversion rate will be 9.3773, which is the number of shares of common stock into which each share of Preferred Stock will convert. No fractional shares of Hecla’s common stock will be issued as a result of the conversion. Holders of fractional shares will receive cash based upon the average closing price of Hecla’s common stock ove